Commission urged to look into hot economic issues

Thien Thanh Sanitaryware joint company

Commission urged to look into hot economic issues

President Truong Tan Sang has asked the Party Central Committee’s Commission for Economic Affairs to continue looking into hot issues of the economy such as public and bad debts, real estate and the efficiency of capital use in order to help the Government make effective monitoring decisions.

At a working session with the commission on September 30 on the occasion of the 64th founding anniversary, the President spoke highly the operation of the commission, focusing on making major studies on the national economy after some 30 years of renewal and reviewing the implementation of the socialist-oriented market economy mechanism and economic restructuring.

The leader also told the commission to include some problems regarding Vietnamese goods’ competitiveness, production costs, the application of science-technology, human resources quality, and support industries in its studies to help boost the country’s rapid and sustainable development.

Participants the function heard a review on the building of a report on economic restructuring in combination with growth model shifting in the 2011-2014 period.

Chairman of the commission Vuong Dinh Hue reported that Vietnam’s economy developed substantively between 2011 and 2013, with the inflation rate cut down from 18.13 percent to 6.81 percent.

The economic restructuring, especially in public investment and State-owned enterprises, saw encouraging results, helping stabilise the macro economy and drive up the change of growth model, the session heard.

Apart from such outcomes, a number of shortcomings still exist in the national economy, such as the dependence on capital and natural resources for development, labour productivity 2-15 times lower than that of other ASEAN countries, and the ineffective capital use, Hue said.

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