Comprehensive competition policy – a need for market economy hinh anh 1Workers of Mtex-Semicoductor assemble electronic devices company (Photo: VNA)

Hanoi (VNA) – A comprehensive competition policy is necessary to shift the Vietnamese economy to a market economy, stated Nguyen Dinh Cung, head of the Central Institute for Economic Management (CIEM), at a workshop in Hanoi on April 15.

According to Cung, during 2011-2015, Vietnam carried out a lot of measures to become a market economy, with the priority given to macro-economic stability, economic restructuring, growth model shifting, administrative reform and human resources development.

However, the macro economy has yet to be stabilised firmly, the economic growth is lower than the set target, and economic restructuring and growth model shifting remain slow.

He attributed the shortcomings to insufficient awareness of the socialist-oriented market economy among Vietnamese people.

Michael Woods, an international consultant on competitiveness, said that the Vietnamese Government is paying attention to sustainable economic growth.

However, it is necessary to clarify competition principles and have an equality among enterprises, he added.

He also emphasised the importance of reviewing the Competition Law and other relevant laws and policies to ensure competitiveness and sustainability.

Meanwhile, the CIEM head suggested clarifying the functions of the State and the market, improve public awareness of the market economy, and determine the tasks of State agencies in the 2016-2020 period.-VNA