In the opening speech of this month’s cabinet meeting in Hanoi on August27, Prime Minister Nguyen Tan Dung highlighted specific tasks requiredin order to achieve 5.8 percent growth as planned for this year.
Barriers affecting growth in agriculture, industry and the servicesector must be removed, he said, demanding easier access to credit, thesettlement of bad debts and a crackdown on counterfeit products.
Regarding economic restructuring, PM Dung prioritised therestructuring of public investment, state-owned enterprises (SOEs),commercial banks and agriculture.
Improvements have alreadybeen made in the restructuring of public investment, but this needs tocontinue if inefficiency is to be avoided, he said. The leader alsopushed for a radical and strict approach to reshuffling ineffective SOEsand banks, saying that “for the sake of the banking system and thepeople, weak banks must be put under control, or undergo acquisitions orbe shut down if needed”.
In terms of administrative reforms,Dung insisted that by the end of 2015 the time required for customsprocedures needs to be halved, and tax filings need to be processed inno more than 200 hours, instead of the 500 hours required at present.
Insurance formalities are also to be processed quicker,accelerating the time they take from 300 hours to less than 100 hours.Similarly, the timeframes for procedures on investments, construction,land acquisition and power supply is to be cut by a third or halved, hedirected.
Ministers must continue to look for and reduce formalities undermining the competitiveness of the economy, he said.
Looking towards socio-economic performance in 2015, the governmentleader called on ministers to develop initiatives for achieving anincrease in gross domestic product of 6-6.2 percent, higher than thegrowth target for 2014, as proposed by the Ministry of Planning andInvestment (MoPI).
According to MoPI forecasts, the economywas expected to expand by 5.54 percent during the first nine months ofthis year, but difficulties for the future remain.
The two-daymeeting will also address a range of other issues, such as examiningthe draft budget task implementation in 2014; devising a plan forissuing government bonds overseas; formulating incentives for scientificand technological establishments; developing a pilot mechanism to grantautonomy to public universities; and launching a scheme for updatingtextbooks.-VNA
Barriers affecting growth in agriculture, industry and the servicesector must be removed, he said, demanding easier access to credit, thesettlement of bad debts and a crackdown on counterfeit products.
Regarding economic restructuring, PM Dung prioritised therestructuring of public investment, state-owned enterprises (SOEs),commercial banks and agriculture.
Improvements have alreadybeen made in the restructuring of public investment, but this needs tocontinue if inefficiency is to be avoided, he said. The leader alsopushed for a radical and strict approach to reshuffling ineffective SOEsand banks, saying that “for the sake of the banking system and thepeople, weak banks must be put under control, or undergo acquisitions orbe shut down if needed”.
In terms of administrative reforms,Dung insisted that by the end of 2015 the time required for customsprocedures needs to be halved, and tax filings need to be processed inno more than 200 hours, instead of the 500 hours required at present.
Insurance formalities are also to be processed quicker,accelerating the time they take from 300 hours to less than 100 hours.Similarly, the timeframes for procedures on investments, construction,land acquisition and power supply is to be cut by a third or halved, hedirected.
Ministers must continue to look for and reduce formalities undermining the competitiveness of the economy, he said.
Looking towards socio-economic performance in 2015, the governmentleader called on ministers to develop initiatives for achieving anincrease in gross domestic product of 6-6.2 percent, higher than thegrowth target for 2014, as proposed by the Ministry of Planning andInvestment (MoPI).
According to MoPI forecasts, the economywas expected to expand by 5.54 percent during the first nine months ofthis year, but difficulties for the future remain.
The two-daymeeting will also address a range of other issues, such as examiningthe draft budget task implementation in 2014; devising a plan forissuing government bonds overseas; formulating incentives for scientificand technological establishments; developing a pilot mechanism to grantautonomy to public universities; and launching a scheme for updatingtextbooks.-VNA
