The next phase of Vietnam's economic development model should considerthe role of science, technology and modern management, said experts at aworkshop in Hanoi on December 23.
Economic Commission Head VuongDinh Hue shared that restructuring the economy has been a priority inthe implementation of the 2011–2015 socio-economic development plan.
TheVietnamese economy saw some improvement in the first three years ofimplementing the plan, but many weaknesses remained, revealed Hue.
Theinformation was disclosed at the workshop, which was conducted by theCentral Committee of Economy, the State Auditing and the Nhan Dan(People) newspaper. It focused on the Vietnamese economy as the countryenters a new phase of development.
He pointed out a number ofshortcomings in the country’s economy, including no consensus on a newgrowth model. Moreover, Hue said that the country's economic growthstill heavily rely on capital, natural resources and cheap labour,rather than knowledge and technology.
He said that the economystill faces numerous risks and administrative reforms are slow. He alsodisclosed that growth is causing negative impacts on the environment.
ThuanHuu, Editor in Chief of the Nhan Dan newspaper, said that three yearshave been spent in restructuring the local economy, which focused onthree key sectors: public investment, financial and banking system andstate-owned enterprises.
The years allotted inthis endeavour showed positive results. However, the restructuringprocess is still considered generally quite slow with respect to theattainment of the economic reform targets.
Huuexpressed his hope that the experts attending the dialogue will be ableto offer more solutions on building a specific economic growth model inthe future.
Nguyen Quang Thai, Vice Chairman ofthe Economic Science Association of Vietnam, shared that the model ofeconomic growth used over the past years lacked efficiency andcompetitive ability.
The failure of the domesticeconomy to pay attention to efficiency and creation resulted in lowlabour productivity and reduction in efficiency, Thai explained.
The economy is facing difficulties in adapting to the rapid economicdevelopment. It also found it challenging to adjust to the advancementsbrought forward by science and technology. No innovation should lagbehind, he said.
Thai advised that the new economic development model should follow the world economic development standard.
The state should attach immense importance to the private economicsector during the integration period in the future, he advised.
Luu Bich Ho, former head of the Development Strategy Institute underthe Ministry of Planning and Investment, said that the new economicdevelopment model should push the local economy to aim for sustainabledevelopment in terms of productivity, quality and efficiency. Vietnamshould apply modern technologies, scientific breakthroughs andmanagement skills for the development of the local economy and strive toachieve high quality in workforce and input sources.-VNA
Economic Commission Head VuongDinh Hue shared that restructuring the economy has been a priority inthe implementation of the 2011–2015 socio-economic development plan.
TheVietnamese economy saw some improvement in the first three years ofimplementing the plan, but many weaknesses remained, revealed Hue.
Theinformation was disclosed at the workshop, which was conducted by theCentral Committee of Economy, the State Auditing and the Nhan Dan(People) newspaper. It focused on the Vietnamese economy as the countryenters a new phase of development.
He pointed out a number ofshortcomings in the country’s economy, including no consensus on a newgrowth model. Moreover, Hue said that the country's economic growthstill heavily rely on capital, natural resources and cheap labour,rather than knowledge and technology.
He said that the economystill faces numerous risks and administrative reforms are slow. He alsodisclosed that growth is causing negative impacts on the environment.
ThuanHuu, Editor in Chief of the Nhan Dan newspaper, said that three yearshave been spent in restructuring the local economy, which focused onthree key sectors: public investment, financial and banking system andstate-owned enterprises.
The years allotted inthis endeavour showed positive results. However, the restructuringprocess is still considered generally quite slow with respect to theattainment of the economic reform targets.
Huuexpressed his hope that the experts attending the dialogue will be ableto offer more solutions on building a specific economic growth model inthe future.
Nguyen Quang Thai, Vice Chairman ofthe Economic Science Association of Vietnam, shared that the model ofeconomic growth used over the past years lacked efficiency andcompetitive ability.
The failure of the domesticeconomy to pay attention to efficiency and creation resulted in lowlabour productivity and reduction in efficiency, Thai explained.
The economy is facing difficulties in adapting to the rapid economicdevelopment. It also found it challenging to adjust to the advancementsbrought forward by science and technology. No innovation should lagbehind, he said.
Thai advised that the new economic development model should follow the world economic development standard.
The state should attach immense importance to the private economicsector during the integration period in the future, he advised.
Luu Bich Ho, former head of the Development Strategy Institute underthe Ministry of Planning and Investment, said that the new economicdevelopment model should push the local economy to aim for sustainabledevelopment in terms of productivity, quality and efficiency. Vietnamshould apply modern technologies, scientific breakthroughs andmanagement skills for the development of the local economy and strive toachieve high quality in workforce and input sources.-VNA
