Ten-year socio-economic plan learns from past: PM Dung

Sustainable development is the cornerstone of the country’s socio-economic development strategy for the period from 2011-2020, said Prime Minister Nguyen Tan Dung in a recent article.

Dung said the development of the strategy was based on lessons learned in the implementation of the previous 10 years of socio-economic development (2001-2010).

“During the past 10 years, though our economy was seriously affected by the financial crisis in the region and the world, we still registered many important achievements by overcoming numerous difficulties and challenges,” he said.

Viet Nam was now entering a new strategic period in the context of rapid, yet complex changes in the world, he added.

Dung wrote that there are three main tendencies internationally these days. First, there are big advances in science and technology and the formation of a knowledge-based economy. These are the driving forces for the demand for global economic and market restructuring. They contribute to the speeding up of economic reform and restructuring of each economy as well as economic relations between nations.

The second tendency is the process of globalisation and deeper economic linkage between nations. The third is the rise in economic and political power of some economies, particularly India and China.

“What’s happening in the world presents us with both challenges and opportunities,” said Dung.

“The socio-economic strategy for the next 10 years will no doubt be appropriate for our country’s situation within the context of the world situation.”

Dung said rapid yet sustainable development was the idea underpinning the country’s strategy for the next decade.

“The goal of comprehensive renewal, in both economics and politics, is a socialist Viet Nam with a prosperous people, a mighty nation and a democratic, fair and civilised society,” said Dung.

Writing about the national economy, Dung said the State economy would continue to uphold its dominant role, allowing the Government to regulate and guide the country’s economic development as well as stabilise the macro economy.

The strategy says: “The country is determined to create an environment of fair competition between different economic sectors while encouraging the development of various forms of business production with mixed modes of ownership, particularly with joint stock companies.”

By 2020 Viet Nam wishes to become an industrialised country with stable politics and a wealthy, democratic society governed by the rule of law.

Viet Nam always places a high value on national independence, sovereignty, unity and territorial integrity and wants to raise its prestige in the international arena.

Prime Minister Dung said in the next 10 years, Viet Nam would prioritise three projects. The first would be the creation of the socialist-oriented market economy; central to this would be the establishment of a fair competition environment and administrative reform.

Second, there needed to be rapid development of human resources, particularly skilled workers. In order to do that, the country would focus on making comprehensive changes to its education system while stepping up research and development activities.

Finally, the country needed to build a synchronous infrastructure system, particularly when it came to the transport system and major urban areas.

To ensure the 10-year strategy is feasible, it was imperative to make the first-year socio-economic plan (2011) a successful curtain raiser for the following years, Dung said.

In his article, the Prime Minister also said the National Assembly had already passed the 2011 socio-economic development.The main tasks included stabilising the macro economy and controlling inflation.

To achieve this goal the Government was determined to narrow the gap between savings and investment and revoke licences for projects which are not yet necessary to the economy. The Goverment would also focus resources on projects that generate production forces and produce export products as well as push ahead with projects that directly serve socio-economic development.

To stabilise the macro economy this year, the Government resolved to reduce budget overspending and the trade deficit while doing all it can to control inflation.

“The past few years show that the macro economy must be able to instill confidence in the market and guide business and production development,” said Dung.

“In order to do that it is important to improve the capacity of proactive forecast and flexibility in the adjusting policies, particularly monetary policy.”

Another major task of 2011 is to quickly start the process of economic restructuring and changing the growth modality.

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