Vietnam’s leading economists are re-examining the world’s long-established economic theories in a bid to figure out the optimal way forward for the nation’s future economic development.

At their two-day meeting in the northern province of Quang Ninh, which began on Jan. 22, the economists concentrate on Karl Marx’s economic theory, the Keynesian Theory of Economics, and the New Freedom policy, all of which have had major effects on the world economy.

“It is important to re-study human kind’s economic theories in a basic and systematic manner in the current situation,” To Huy Rua, President of the Central Theoretical Council, said at the event.

According to Rua, after 25 years of renovation, Vietnam is advancing to a new and important stage in its development, which requires new breakthroughs to be made to create fresh dynamism and impetus for its economy.

He underlined that in the next ten years, industrialisation and modernisation will enter a decisive phase that looks to bridge the country’s technological gap with others and dramatically improve its international competitiveness in order to heighten its economic position in the region and across the globe.

“Restructuring becomes an extremely urgent issue for the national economy to enable it to grow quickly and sustainably,” Rua said.

The outcomes of this symposium will help policy makers in supplementing the platform for national construction in a transitional phase to socialism, and perfecting the draft socio-economic development strategy for 2011-2020 as well as a political report to be submitted to the Party at its 11th National Congress.

The symposium is hosted by the Central Theoretical Council in collaboration with economics institutions and universities nationwide./.