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2008: strive to push forward the growth rate, enhance the quality, effectiveness and sustainability of the economy

In 2007, the national economy has reached the highest growth rate within the last 10 years, of which GDP has increased by 8.5%. The economic mechanism continues to shift towards positive trends: the proportion of agricultural sector reduces to 20% from 20.4%; concurrently with the increase in the proportion of industrial


The social investment for development takes an account of 40.6% of the GDP, increasing by 16.4% compared to that of 2006, of which ODA rises by 12%, FDI by 17.1%, private owned investment by 19.5%. However, the economy reveals some shortcomings such as: high growth rate but slow improvement in quality; investment and business environment, especially economic mechanism, administrative procedures, economic and social infrastructure and quality of the labor force still show weaknesses, which constrain the development and influence on the growth rate and sustainability of the economy.
According to the government report delivered in the 2nd session of the 12th National Assembly, the Prime Minister emphasized on the missions: make great efforts, seize opportunities to overcome the difficulties and obstacles, strive to fulfill and basically meet a number of scheduled figures for the 5 year plan of 2006-2010 in 2008. The key missions for economic development in 2008 have been placed as follows: high economic growth rate together with the increase of quality, efficiency, competitiveness and sustainability of the economy; strive to deliver the country out of the group of “developing country with low income” in 2008.
To reach this goals, the Government will continue to steer the comprehensive implementation of directions and measures in the 5 year plan (2006-2010) and set of measures delivered in the Government reports in this session, of which one of the key measures should be “to actively improve the investment and business environment, increase the growth rate, enhance the quality, efficiency, competitiveness and sustainability of the economy”. The Government highly encourages domestic and foreign enterprises of all economic entities to intensify their investment activities in all aspects of the economy, including: agricultural and rural development, industrial promotion together with the increase of products’ quality and competitiveness and service development. The measure of top priority will be continue to improve the investment and business environment, create all favorable conditions for enterprises of all economic elements to effectively operate.
As for the directions and measures to develop economic sectors, the report clearly points out: continue to shift the agricultural structure together with closely administer the cultivated land to ensure the food security; upgrade the intensive cultivation level, increase the productivity, ensure the food quality and safety; firmly develop the industrial crops according to the master plan, forming cultivating areas for the processing industry; encourage to develop supporting services to rise the cultivating and aqua-product productivity; recapitulate and spread out the achievements of the afforest allotment pilot; enhance the warning ability, prevent and surmount the natural calamities; speed up the prevention and combat against epidemic diseases; support the development of traditional trade villages; move the pollutant manufactures to industrial parks and industrial clusters.
Encourage to develop industrial activities, upgrade products’ quality and competitiveness; push forward the manufacturing of household and export products, ensure the supply -demand balance of basic industrial products such as electricity, oil and gas, coal, fertilizer, steel, cement, etc.; supplement encouragement policies for fuel industry development, important material manufacturing, high tech and technology industry, supporting industries; pay attention to the development of traditional industries of high competitiveness.
Develop service sector to a higher level; ensure the growth rate of service sector higher than the average growth rate of the economy; develop transportation services, trade, tourism, post and telecommunication, finance and banking, and insurance; pay attention to new forms of services, especially the high knowledge-content and trade supporting services.
To accelerate and upgrade the quality of growth and efficiency of the economy, key measure in the coming time should be to actively enhance the investment and business environment at both micro and macro level.
First, continue to improve the legal framework of market economy, form comprehensive market mechanism to synchronously operate all kinds of markets, especially property, monetary and finance, labor force, services, and scientific and technological products; promulgate encouragement policies to attract investment into specially difficult areas and specially encouraged sectors; create favorable conditions for enterprises to invest in advantageous, potential areas with high economic efficiency.
Second, focus on compiling and promulgating guiding documents of acting laws and ordinances. Push forward the streamlining of administrative procedures to facilitate investing and business activities of all economic elements.
Third, speed up the process of state-owned enterprise reform with the focal of privatization, closely and effectively steer the privatizing activities; encourage the development of privatized enterprises and private companies.
Forth, actively promote and create favorable conditions to attract foreign direct investment, especially giant projects, projects into infrastructure development and high-tech industry; continue to complete and upgrade the effectiveness of ODA management; improve legal framework for domestic enterprises to invest abroad.
Fifth, improve the strategy and master plan building capacity. Master plans for infrastructure should pioneer and be closely administered. Review and adjust provincial master plans and industrial master plans, especially master plans of agriculture to form material regions and processing areas using high-tech. Supplement and adjust the master plan to develop industrial parks together with the master plan of residential areas, encourage to develop residential complexes for employees in industrial parks. Accelerate and improve the building capacity of master plan for urban areas. Promote to build rapidly and comprehensively the IP infrastructure, especially the waste treatment plant; early hand over land for investors to operate their project.
Sixth, together with mobilizing all forces to rapidly develop the infrastructure, a series of measures will be carried out in 2008 to create a breakthrough in increasing the quality and efficiency of human resources training, which aims to make human resources a key advantage to attract investment and an important element to enhance the competitiveness of the economy. With the principle of “tailor-made” training, it is necessary to improve the quality and scale of vocational training from primary to college level; formulate a mechanism and policies to encourage enterprises and investors to train their employees; supply high-quality labor force to meet the demands of manufacturing activities.

Seventh, to effectively address the social issues, it is urgent to increase the state budget allocated to the development of culture, society, education, healthcare and poverty alleviation; develop the economy inline with effectively address the social and cultural issues.  


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Lisence No.: 69/GP-TTĐT dated 30th June, 2016 issued by Ministry of Information and Communications of The Socialist Republic of Vietnam
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