Labour productivity is projected to grow more than 6.5 percent annually. (Photo: VNA) The resolution sets the target of revamping thegrowth model and improving productivity, quality, competitiveness,self-reliance, adaptation and resilience of the national economy.
🦩 Accordingly, labour productivity is projected togrow more than 6.5 percent annually, and the gap of national competitiveness with ASEAN-4 (Indonesia, Malaysia, Philippines, and Thailand) will be narrowed by 2025, especially in terms of institutions, infrastructure andhuman resources.
Spending on scientific research and technologicaldevelopment will be no less than 1 percent of the GDP, and the number ofenterprises engaging in tech reform should increase by 15 percent each yearduring the 2021-2025 period.
The country strives to have some 1.5 millionenterprises, of which 60,000-70,000 are medium and large-sized firms. The privateeconomic sector is expected to contribute around 55 percent of the GDP. Atleast five national products win international brands.
Among 35,000 cooperatives set by the end of 2025, morethan 3,000 will utilise high technologies in production and consumption, and 50percent of agricultural cooperatives set up connectivity with businesses invalue chains.
To fulfill the targets, the resolution specifiesmajor tasks and solutions, with the first group of tasks focusing on restructuring public investment, Statebudget, credit organisations and public non-business units.
For public investment restructuring, the Government hasassigned the Ministry of Planning and Investment to coordinate with ministries,agencies and localities to outline measures to raise the quality of institutionson public investment management and improve the economy's capacity of absorbing investment.
The Government also plans to build policies andsolutions to push ahead with decentralisation, promote the responsibility ofagencies and their leaders, and address obstacles to public investmentmanagement.
Meanwhile, the Ministry of Finance and other ministriesand agencies will work on a project on reforming mechanisms for State budget management and allocation, which will be submitted to competent agencies for approval,along with other relevant policies.
The country strives to have some 1.5 millionenterprises, of which 60,000-70,000 are medium and large-sized firms. The privateeconomic sector is expected to contribute around 55 percent of the GDP. Atleast five national products win international brands.
Among 35,000 cooperatives set by the end of 2025, morethan 3,000 will utilise high technologies in production and consumption, and 50percent of agricultural cooperatives set up connectivity with businesses invalue chains.
To fulfill the targets, the resolution specifiesmajor tasks and solutions, with the first group of tasks focusing on restructuring public investment, Statebudget, credit organisations and public non-business units.
For public investment restructuring, the Government hasassigned the Ministry of Planning and Investment to coordinate with ministries,agencies and localities to outline measures to raise the quality of institutionson public investment management and improve the economy's capacity of absorbing investment.
The Government also plans to build policies andsolutions to push ahead with decentralisation, promote the responsibility ofagencies and their leaders, and address obstacles to public investmentmanagement.
Meanwhile, the Ministry of Finance and other ministriesand agencies will work on a project on reforming mechanisms for State budget management and allocation, which will be submitted to competent agencies for approval,along with other relevant policies.
Illustrative image (Source: VNA) The project on restructuring credit institutions andhandling bad debts for 2021-2025 should be submitted to the Prime Minister forissuance this year.
Another group of tasks set in the resolution is to develop the financial, land and labour markets, and improve the efficiency of the allocation and use of human resources. A financialstrategy by 2030 will be developed and sent to the PM for issuance this year.
The Ministry of Natural Resources and Development willtake the main responsibility for building a draft law amending and supplementingsome articles of the 2013 Land Law and making a report to the Government beforethe document is submitted to the NA for adoption this year.
The third group of tasks target corporate development,connectivity between enterprises of different economic sectors, and the reformand development of the collective economy and cooperatives.
The resolution also highlighted the tasks of urban economic development,regional connectivity and the restructuring of sectors towards modernity andgreen, sustainable growth./.
VNA
