Illustrative image (Photo: VNA) In an interview granted to the Vietnam News Agency, Phong stated that the new resolution continues to pursue the restructuring of the economy in a comprehensive and focused way, on the basis of inheriting and developing the achievements of Resolution 24 adopted by the 14th legislature in 2016 on an economic restructuring plan for 2016-2020.
He highlightedpositive results brought about by Resolution 24, sayingthat it helped boost the development of the domestic private sector, attractforeign direct investment (FDI), increase the productivity, quality and efficiencyof industries associated with international economic integration.
However, he pointed to several existing shortcomings, includinga slow change in growth model, a slow growth rate of labour productivity, andlimited contributions of scientific and technological advances to improvinglabour productivity.
However, he pointed to several existing shortcomings, includinga slow change in growth model, a slow growth rate of labour productivity, andlimited contributions of scientific and technological advances to improvinglabour productivity.
According to Phong, the private sector's development has not matched the economy's scale and openness, and the economy's dependence on the FDI sector has not reduced.
He added that a number of legal regulations still hamper the restructuring of the economy, while the reform of economic institutions and economic restructuring are not extensive and strong enough to form a more suitable and dynamic economic structure.
Under the new resolution, priority will be given to the development of industriesand fields with great potential, the formation of reasonable and effective structures for each industry and field as well as among industries and fields and the whole economy.
He added that a number of legal regulations still hamper the restructuring of the economy, while the reform of economic institutions and economic restructuring are not extensive and strong enough to form a more suitable and dynamic economic structure.
Under the new resolution, priority will be given to the development of industriesand fields with great potential, the formation of reasonable and effective structures for each industry and field as well as among industries and fields and the whole economy.
The Resolution aims to speed up economic restructuring inassociation with innovating the growth model towards ensuring macroeconomicstability, improving the economy’s productivity, quality, efficiency andcompetitiveness based on science, technology and innovation and high-qualityhuman resources, thus contributing to promoting socio-economic recovery anddevelopment, building an autonomous economy, improving the adaptability andresilience of the economy.
One of the five key tasks of the 2021-2025 economic restructuring plan is to create an institutional framework and business environment conducive to the development of enterprises.
The VCCI Vice Chairman also stressed the need for enterprisesto pay special attention to restructuring themselves and play an active role inthis process./.
One of the five key tasks of the 2021-2025 economic restructuring plan is to create an institutional framework and business environment conducive to the development of enterprises.
The VCCI Vice Chairman also stressed the need for enterprisesto pay special attention to restructuring themselves and play an active role inthis process./.
VNA
