5 major balances for sustainable national development

At the Government Standing Committee meeting on the organization of the Lunar New Year 2021 on February 17, after listening to and assessing the socio-economic situation during Tet, Prime Minister Nguyen Xuan Phuc pointed out 5 major balances for sustainable national development.

"We must have full determination, a spirit of action and a stronger will than ever. Right from this first quarter, we must be determined to effectively organize the implementation of the Resolution of the 13th National Party Congress in our ministries and localities. Here, I would like to reiterate once again that the greatest achievements and successes in the past 5 years, especially in 2020, are consistent and have convincingly demonstrated the "Party's will, people's heart" crystallized in the direction. Therefore, we must focus on directing the handling of the 5 major balances in national development, especially in the first 6 months of 2021, throughout 2021 and not only that but also in the long term in the 5-year plan", the Prime Minister emphasized when giving an important message to ministries, branches and localities.

Prime Minister Nguyen Xuan Phuc chaired a meeting of the Government Standing Committee to discuss the Tet situation, implementing key tasks after Tet and the work of preventing and fighting the Covid-19 epidemic. Photo: VGP

Accordingly,first major balanceis the balance between opening up, innovation, promoting socio-economic development and consolidating and enhancing the leadership role of the Party. In other words, it is the balance between innovation, stability and development; between following market rules and ensuring socialist orientation; between the State, the market and society; between economic growth and human development; between social progress and environmental protection; between independence and integration.

Second largest balanceis to balance rapid economic development with ensuring social progress and equity, including environmental conservation and the protection of the nation's cultural identity. That also means harmonious and inclusive development, leaving no one behind and no locality missing out on development opportunities.

Tuesdayis the balance between internal and external forces; between domestic and foreign economies; between domestic trade and foreign trade; between building an independent, self-reliant economy with openness and integration into the regional and global international economy; between building a self-reliant economy with deep integration; between attracting strong FDI and developing the private economy.

Wednesdayis to balance short-term priorities with long-term goals. The Prime Minister stated that we are focusing on promoting annual policies for 5-year, 10-year and longer-term goals. Therefore, we must not be subjective, avoid chasing short-term goals that lack sustainability, and abandon long-term goals that are consistent. The Prime Minister asked ministries, sectors and localities to maintain their steadfastness and belief in the ideals and principles of building a socialist-oriented market economy.

5th Great BalanceThe objectives mentioned by the Prime Minister are to balance national financial resources, budget balance, public debt, international balance of payments and other macro balances. We have a good system of macro indicators but they must be more stable and each year must be better than the previous year.

StateThose 5 major balances are for ministries, branches, localities and advisory agencies to discuss for sustainable development.The Prime Minister said that these major balances are the sum total of the major balance of "Party's will and People's heart".

The Prime Minister also requested the Government Party Committee to prepare the Government apparatus for the new term to report to the Politburo and agencies. After this meeting, the Prime Minister will issue a Directive to direct the work, and at the same time require the State apparatus to perform well all functions and tasks under any circumstances./.