Proposal To Restructure Vietnamese Economy (24/4)
24/04/2012 - 13 Lượt xem
The proposal includes a range of sectors, such as credit system, stock market, state-owned businesses and economic regions.
Central
Institute for Economic Management deputy director Nguyen Dinh Cung, one
of the main composers said that the overall goal of the proposal is
resource reallocation to boost efficiency, capacity and competitiveness
of the economy.
The
proposal suggests 13 solution groups, including two special groups to
better the macroeconomic environment in order to create foundations for
economic restructuring. The first special solution group emphasizes the
need to achieve the macroeconomic targets in a stable and sustainable
way. In addition, the commercial banking system needs to be
restructured to create a stable financial market, facilitating resource
reallocation. The second special solution group is to further improve
the business environment in order to offer a fair business environment
for all economic sectors.
Nguyen
Dinh Cung admitted that the proposal is very complicated as it affects
many interest groups in the economy. "The biggest challenge to economic
restructuring is that it is unknown how much it will cost.
Restructuring aimed at resource reallocation will create a stagnant
growth period as an exchange. Shall the Government accept an exchange?"
Cung said.
Ministry
of Planning and Investment, the agency in charge of mapping out the
proposal, permanent deputy minister Cao Viet Sinh said that to carry
out the proposal, it is necessary to find a general consensus, but all
seem to be bystanders. He noted that the current unstable macro-economy
is unfavorable for economic restructuring. "Our macro-economic
environment is still risky. Restructuring cannot happen in a couple
days but it will take time," he said.
He
said it is necessary to restructure but will not cause any major
disturbance to the society. Therefore, the Ministry of Planning and
Investment is still afraid of publicizing the proposal.
The
Ministry of Planning and Investment is assigned to carry out the
economic restructuring proposal by the Government with the main
objectives of clarifying the key points, directions and solutions to
restructure sectors, adjust market strategy, increase the domestic
value and added value and the competitiveness of products, businesses
and the economy in the 2011-2020 period.
The
proposal consists of four parts, from the evaluation of the
achievements and limitations of the Vietnam's economy to the
identification of general objectives and solution systems. The economic
sectors having rapidly changing technology will be restructured quickly.
Proposal
to restructure Vietnamese economy was set out in the meetings in 2008
and 2009 when the global economic crisis was taking place. After that,
the Government had assigned the Ministry of Planning and Investment to
sponsor and report. The draft of this proposal completed by the
Ministry of Planning and Investment on March 28 will be discussed at
the next parliamentary session./.
Source: VEN.
