Economic restructuring is a long but urgent process and impatience could result in wrong decisions, Minister of Planning and Investment Bui Quang Vinh said.
At a number of economic forums and workshops, participants voiced their concerns over the slow process and limited outcomes of economic restructuring. In contrast, others regarded economic restructuring as a major issue which cannot be completed overnight.
In response to reporters’ questions on how he will explain to the eighth session of the 13 th National Assembly the slow progress of reform, Minister Vinh said that while the process of economic restructuring did indeed fall short of expectations, the results achieved so far formed a crucial foundation for accelerating the process in the near future.
Vietnam has achieved notable successes, such as building a legal framework on public investment management and developing a mid-term investment plan, he said.
He also acknowledged the slow progress made on restructuring State-owned enterprises, highlighting that almost all the projects on restructuring State-run corporations and groups have now been approved.
“These are just the first outcomes and there is still much more to do. Economic restructuring is a long process and impatience could result in wrong decisions, but it cannot be delayed,” Vinh said, adding that he believes the restructuring process may make better progress in 2015.
The official noted that in addition to economic restructuring, Vietnam need to accelerate the implementation of two other strategic priorities, improving the investment and business climate, and reforming economic institutions.
According to him, amending the laws on investment and enterprises, which ensure the economic freedom of citizens and businesses, is particularly important for these strategic priorities.-VNA
At a number of economic forums and workshops, participants voiced their concerns over the slow process and limited outcomes of economic restructuring. In contrast, others regarded economic restructuring as a major issue which cannot be completed overnight.
In response to reporters’ questions on how he will explain to the eighth session of the 13 th National Assembly the slow progress of reform, Minister Vinh said that while the process of economic restructuring did indeed fall short of expectations, the results achieved so far formed a crucial foundation for accelerating the process in the near future.
Vietnam has achieved notable successes, such as building a legal framework on public investment management and developing a mid-term investment plan, he said.
He also acknowledged the slow progress made on restructuring State-owned enterprises, highlighting that almost all the projects on restructuring State-run corporations and groups have now been approved.
“These are just the first outcomes and there is still much more to do. Economic restructuring is a long process and impatience could result in wrong decisions, but it cannot be delayed,” Vinh said, adding that he believes the restructuring process may make better progress in 2015.
The official noted that in addition to economic restructuring, Vietnam need to accelerate the implementation of two other strategic priorities, improving the investment and business climate, and reforming economic institutions.
According to him, amending the laws on investment and enterprises, which ensure the economic freedom of citizens and businesses, is particularly important for these strategic priorities.-VNA
