Prime Minister Phạm Minh Chính chairs the fourth meeting of the 14th Party Congress’s socio-economic sub-committee in Hà Nội on Thursday. — VNA/VNS Photo Dương Giang

HÀ NỘI — The draft socio-economic report must highlight the significant and historically meaningful outcomes of the 2021-25 period, supported by statistical data.

It must accurately assess the situation, stay closely aligned with and respect reality, and use reality as the measure.

It should have greater feasibility, practicality, action and effectiveness, Prime Minister Phạm Minh Chính said on Thursday morning, as he concluded the fourth meeting of the 14th Party Congress’s socio-economic sub-committee in Hà Nội.

The report must demonstrate forward-thinking, deep reflection and a focus on actions, the PM insisted.

It should be linked with the political report and other relevant documents and fully incorporate the directions from Party General Secretary Tô Lâm in the working sessions with the sub-committee.

Chính, chair of the Sub-Committee, ordered that the draft report must pinpoint existing issues, limitations, bottlenecks and obstacles, ensuring the feasibility of achieving the goal set for the 100th anniversary of the Party’s founding and working towards the 100th anniversary of the establishment of the State. The report should emphasise actions and focus on key tasks and solutions.

The report must address the implementation of three strategic breakthroughs. The first was reforming the institutional framework, simplifying administrative procedures, enhancing decentralisation and resource allocation.

The second was advancing infrastructure, particularly transportation and energy sectors.

The third was developing human resources, basic research and integrating various scientific fields.

It also had to include policies to attract high-quality human resources, talented individuals, entrepreneurs and public intellectuals.

Additionally, the report was required to update new issues, taking into account the role of science and technology, innovation and digital transformation as foundational elements for development.

It should also discuss the application of smart governance, the digital society and e-citizenship, creating an open investment environment.

That included implementing the Party General Secretary’s directive on establishing a national investment portal and developing mechanisms to mobilise resources, particularly through public-private partnerships, as well as protecting the rights and interests of citizens and businesses.

Furthermore, it should explore models of public-private governance, public investment management by private entities, and private investment in public projects.

Chính emphasised that the main content of the report must cover the context and situation, especially major issues that significantly impact the socio-economic development of the country, such as the COVID-19 pandemic, the global economic downturn and slow recovery.

“The report also has to highlight the efforts, leadership and directives from the Party, State and Government, which had been pivotal in 'shifting the situation' and mobilising the political system, the public, businesses and international support,” he added.

It must include specific, convincing data on key contributions and the driving forces of the economy, particularly the role of the private sector.

Regarding tasks and solutions, Chính highlighted that institutional reform should be considered, what he called: " the breakthrough of breakthroughs."

The implementation must be focused and result-oriented, avoiding superficiality.

Emphasis should be placed on boosting science, technology, innovation and digital transformation.

There should be strong development of all economic sectors, including the private sector, with robust mechanisms and policies to support entrepreneurship, innovation, the formation of new businesses and the creation of incubation hubs.

The Prime Minister also agreed to include the perspective that the private economy is a key part of the national economy.

“Developing the private sector is the most important driver for economic growth, increasing productivity and improving the competitiveness of the economy,” he said.

There should be mechanisms for contracting private businesses to invest in key national infrastructure projects.

Local governments must be empowered to make decisions and take responsibility for mobilising resources to support socio-economic development, based on effective use and debt repayment capacity.

“The goal is to have two million businesses by 2030,” he said.

The Prime Minister stressed that the draft socio-economic report must be regularly reviewed, updated and supplemented based on the evolving socio-economic landscape, new policies from the Party, State and Government, until it is approved at the 14th Party Congress.

After receiving feedback from the Politburo, the report will be finalised and presented to the Party Central Committee for consideration at the upcoming Party Central Committee Conference in early April.

Concluding the meeting, Chính, praised the sub-committee members for their dedication and for offering insightful and practical contributions to the draft socio-economic report.— VNS