The National Assembly (NA) on November 28 approved a resolution on the continued improvement of the effectiveness of the economic restructuring in public investment, State-owned enterprises and the banking system with a target of basically completing the work by the end of 2015.

The resolution reads that the economic restructuring, started in 2011, has brought about initial outcomes in the three areas, resulting in comprehensive socio-economic improvements, especially in economic growth, job creation, poverty reduction, people’s incomes, and sci-tech capacity.

However, the process also revealed a number of problems in the economy regarding support industries, competitiveness, workforce quality, investment in public and high technology sectors, and the reorganisation of State-owned enterprises and the banking system.

To improve the economic restructuring’s effectiveness from now to the end of 2015, the NA asks the Government to clarify targets, roadmaps and methods of allocating resources and mobilising social engagement in the work.

It is necessary to combine the restructuring and international economic integration as well as attach industrial and service restructuring to agricultural restructuring, the resolution says.

The parliament also requires the Government to complete the ratification of restructuring projects for sectors and localities in the second quarter of 2015 at the latest, and facilitate the scientific and technological application in production and business.

Basing on the outcomes during 2011-2015, the Cabinet will build a economic restructuring plan for the 2016-2020 period to be submitted to the legislature at its 10 th session in October 2015.-VNA