The closing ceremony of the fourth plenary meeting of the 12th Party Central Committee (Source: VNA)
Hanoi (VNA) – Renewing the growth model which should be propelled by productivity and competitiveness of the economy is a key task set by the 12 th Party Central Committee during its six-day fourth plenary meeting that concluded on October 14.

Other tasks consented by the committee’s members include stabilising the macro economy, ensuring social welfare, stepping up international integration and building the Party.

In his closing speech, Party General Secretary Nguyen Phu Trong said the growth target of 6.3-6.5 percent set for 2016 requires greater efforts to be focused on disbursing investments sourced from the State budget; mobilising all resources to boost production and business activities, especially the farming sector; tackling bottlenecks in coal consumption; and promoting tourism.

Restructuring the economy must be combined with renewing the growth model, improving the business climate and raising the growth quality, productivity and competitiveness of the economy, the Party chief noted.

The committee agreed on the need to ensure democracy and social equality while responding to climate change, managing natural resources and protecting the environment.

The committee’s members displayed their resolve to combat corruption and wastefulness, protect national independence, sovereignty and territorial integrity, maintain political stability and social order, and increase international integration, according to the leader.

He said heeds will be paid to completing the socialist-oriented market economic institutions, facilitating start-ups and developing special administrative-economic areas, smart urban areas, along with industrial and high-tech zones.

Businesses are the centre of renovation, development and scientific-technological transfer. The private economic sector is expected to develop in both quality and quantity, becoming an important driver of the national economy, he affirmed.

The labour, scientific-technological, financial and monetary, and real estate markets will be developed at the same time, the leader said.

The committee stressed that more investments should be poured into the country’s tropical agriculture which holds substantial potential, gearing towards a high-tech and sustainable agriculture.

Regarding economic integration, the committee’s members shared the view that the effective implementation of new-generation free trade agreements will open up opportunities and help the country diversify its market and participate in the global supply chain, as well as regional and international institutions and mechanisms.

It will also enable the country to protect its interests, independence and self-mastery, he added.

The Party chief reminded that it is necessary to maintain the country’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations while realising such agreements.

In the next ten years, attention will be paid to building and implementing policies and measures to actualise the signed deals, he said.

The committee also outlined specific tasks in Party building, focusing on combating the degradation in political thought, morals and lifestyle.

The Party leader asked each Party Central Committee member to promote the sense of responsibility and work with Party committees and administrations to instruct the implementation of the 12th Party Congress and other resolutions and conclusions of the Party Central Committee.-VNA