The next phase of Vietnam's economic development model should consider the role of science, technology and modern management, said experts at a workshop in Hanoi on December 23.
Economic Commission Head Vuong Dinh Hue shared that restructuring the economy has been a priority in the implementation of the 2011–2015 socio-economic development plan.
The Vietnamese economy saw some improvement in the first three years of implementing the plan, but many weaknesses remained, revealed Hue.
The information was disclosed at the workshop, which was conducted by the Central Committee of Economy, the State Auditing and the Nhan Dan (People) newspaper. It focused on the Vietnamese economy as the country enters a new phase of development.
He pointed out a number of shortcomings in the country’s economy, including no consensus on a new growth model. Moreover, Hue said that the country's economic growth still heavily rely on capital, natural resources and cheap labour, rather than knowledge and technology.
He said that the economy still faces numerous risks and administrative reforms are slow. He also disclosed that growth is causing negative impacts on the environment.
Thuan Huu, Editor in Chief of the Nhan Dan newspaper, said that three years have been spent in restructuring the local economy, which focused on three key sectors: public investment, financial and banking system and state-owned enterprises.
The years allotted in this endeavour showed positive results. However, the restructuring process is still considered generally quite slow with respect to the attainment of the economic reform targets.
Huu expressed his hope that the experts attending the dialogue will be able to offer more solutions on building a specific economic growth model in the future.
Nguyen Quang Thai, Vice Chairman of the Economic Science Association of Vietnam, shared that the model of economic growth used over the past years lacked efficiency and competitive ability.
The failure of the domestic economy to pay attention to efficiency and creation resulted in low labour productivity and reduction in efficiency, Thai explained.
The economy is facing difficulties in adapting to the rapid economic development. It also found it challenging to adjust to the advancements brought forward by science and technology. No innovation should lag behind, 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 economic sector during the integration period in the future, he advised.
Luu Bich Ho, former head of the Development Strategy Institute under the Ministry of Planning and Investment, said that the new economic development model should push the local economy to aim for sustainable development in terms of productivity, quality and efficiency. Vietnam should apply modern technologies, scientific breakthroughs and management skills for the development of the local economy and strive to achieve high quality in workforce and input sources.-VNA
Economic Commission Head Vuong Dinh Hue shared that restructuring the economy has been a priority in the implementation of the 2011–2015 socio-economic development plan.
The Vietnamese economy saw some improvement in the first three years of implementing the plan, but many weaknesses remained, revealed Hue.
The information was disclosed at the workshop, which was conducted by the Central Committee of Economy, the State Auditing and the Nhan Dan (People) newspaper. It focused on the Vietnamese economy as the country enters a new phase of development.
He pointed out a number of shortcomings in the country’s economy, including no consensus on a new growth model. Moreover, Hue said that the country's economic growth still heavily rely on capital, natural resources and cheap labour, rather than knowledge and technology.
He said that the economy still faces numerous risks and administrative reforms are slow. He also disclosed that growth is causing negative impacts on the environment.
Thuan Huu, Editor in Chief of the Nhan Dan newspaper, said that three years have been spent in restructuring the local economy, which focused on three key sectors: public investment, financial and banking system and state-owned enterprises.
The years allotted in this endeavour showed positive results. However, the restructuring process is still considered generally quite slow with respect to the attainment of the economic reform targets.
Huu expressed his hope that the experts attending the dialogue will be able to offer more solutions on building a specific economic growth model in the future.
Nguyen Quang Thai, Vice Chairman of the Economic Science Association of Vietnam, shared that the model of economic growth used over the past years lacked efficiency and competitive ability.
The failure of the domestic economy to pay attention to efficiency and creation resulted in low labour productivity and reduction in efficiency, Thai explained.
The economy is facing difficulties in adapting to the rapid economic development. It also found it challenging to adjust to the advancements brought forward by science and technology. No innovation should lag behind, 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 economic sector during the integration period in the future, he advised.
Luu Bich Ho, former head of the Development Strategy Institute under the Ministry of Planning and Investment, said that the new economic development model should push the local economy to aim for sustainable development in terms of productivity, quality and efficiency. Vietnam should apply modern technologies, scientific breakthroughs and management skills for the development of the local economy and strive to achieve high quality in workforce and input sources.-VNA
