Decide on three areas to restructure
On October 10, the 3rd meeting of the 11th Party Central Committee concluded after more than four days of work. The Politburo fully absorbed and explained issues with different opinions.
The Central Executive Committee adopted the conference resolution.
In his closing speech, General Secretary Nguyen Phu Trong said that a very important new content considered and decided by this Central Conference is to restructure the economy in conjunction with renewing the growth model.
This is a very large and complex task, requiring synchronous implementation in all sectors and fields nationwide and in each locality and grassroots unit for many years. In the next five years, it is necessary to focus on the three most important areas: restructuring investment with a focus on public investment, restructuring the financial market with a focus on restructuring the commercial banking system and financial institutions, and restructuring state-owned enterprises with a focus on economic groups and state-owned corporations.
According to the 3rd conference of the Party Central Committee: Focus on developing state-owned enterprises in important sectors and fields that are of key significance to the national economy.
In photo: Pha Rung Shipbuilding Industry Corporation (under Vietnam Shipbuilding Industry Group - Vinashin) launched the bulk carrier Inlaco Express on September 6, 2011 - Photo: Tuan Phung
Don't let "group interests" dominate
According to the General Secretary, restructuring investment with a focus on public investment can only be successful on the basis of continuing to innovate thinking and methods of building and organizing the implementation of annual and five-year socio-economic development plans to mobilize, allocate and use most effectively, in the most reasonable order of priority, State and social resources, internal and external resources for development investment according to the plan.
Investment strategies, plans, projects and policies must have a long-term vision, not be dominated by “term thinking”, localism, achievement disease, subjective voluntarism or “group interests”. The annual and five-year socio-economic development plans for 2011-2015 must specify the goals, directions and tasks set out in the socio-economic development strategy and be closely linked to the strategies, plans and development plans for sectors, fields and territories so as to best suit the situation of the country and the world in each period.
It is necessary to urgently review and adjust laws, policies and mechanisms for investment management in general and public investment in particular, especially the issue of decentralization of state management of budget revenue and expenditure and investment. It is necessary to urgently determine criteria and order of priority as the basis for approving, rejecting or cutting investment projects, especially public investment projects.
Overcoming the situation of developing too many economic zones, industrial parks, industrial clusters, over-exploiting resources and minerals without fully calculating the ability to attract businesses to invest, socio-economic efficiency and environmental impact as well as the situation of approving too many projects beyond the capacity of existing resources, investment plans being cut into many years leading to scattered investment, prolonged construction time, large basic construction debt, causing waste, loss and low efficiency.
Merger and consolidation of small commercial banks
To restructure the financial market with a focus on restructuring the commercial banking system and financial institutions, it is necessary to innovate and improve the effectiveness and efficiency of state management of the stock market, real estate market, currency market, especially the gold and foreign currency markets, overcome the situation of dollarization; strictly control public debt, bad debt of state-owned enterprises, foreign debt repayment, foreign investment capital sources, especially investment in the real estate sector, the stock market and other hot capital sources; gradually reduce the rate of capital supply for development investment from the commercial banking system; improve the quality of banking services.
Restructure the commercial banking system and financial institutions in the direction of merging and consolidating commercial banks and small financial institutions to have an appropriate number of commercial banks and financial institutions with scale and reputation, healthy operations, ensuring liquidity and system safety.
State-owned enterprises must compete equally.
Resolutely put an end to the situation of economic groups and state-owned corporations investing widely outside their main production and business sectors and fields before 2015.
Focus on developing state-owned enterprises in important sectors and fields that are of key significance to the national economy, mainly in economic and technical fields related to socio-economic infrastructure, public services, and macroeconomic stability. Perfect the state enterprise management system, exercise the rights and responsibilities of state owners over state capital and assets in enterprises, and ensure financial transparency and publicity.
Innovate the governance and operating mechanism of state-owned enterprises towards shifting to the organization and operation model of joint stock companies and limited liability companies in accordance with the provisions of the Law on Enterprises, competing equally in the market.
Determined to keep 3.8 million hectares of rice land
To ensure food security associated with ecological environment protection, it is necessary to continue to promote the implementation of the Resolution of the 7th Central Conference (10th tenure) on agriculture, farmers and rural areas; resolutely maintain 3.8 million hectares of rice land, have a reasonable budget regulation policy for the delta region, especially the Mekong Delta region so that these regions can focus on producing and processing rice and other agricultural and food products, meeting domestic and export demand...
According to VNA
