Opportunities for Vietnam during global economic integration were sointertwined that breakthrough measures were needed, Deputy PrimeMinister Nguyen Xuan Phuc has said.
Addressing a workshop toreview the country's 30 years of renewal in northern Vinh Phuc provinceon March 25, the Deputy Prime Minister stressed economic structuringduring the last 30 years had led to positive changes inindustrialisation and modernisation.
"The deeper, wider andcomprehensive international integration of the economy has presented uswith enormous opportunities," he said, adding "at the same time, it hasalso posed many challenges.”
"Industrialisation and modernisationhas successfully solved relationships between economic growth andcultural development as well as the course of progress and socialequality. As a result, living conditions have been improved while therate of poverty has been reduced; the national defence and security havebeen well maintained; and our national strength and position has beenelevated," he said.
However, Phuc conceded that many problems had to be still addressed.
Industrialisation and modernisation had not well been coordinated, he said.
TheVietnamese industry was dominated by supporting industries with lowvalue added capability, he said, adding that policies forindustrialisation and modernisation of agriculture and rural areas hadbeen implemented slowly and less effectively.
Phuc said that inaddition, the quality of human resources in the agriculture sector wasstill poor. So was the obsolete infrastructure, which he said was amajor hindrance.
He complained that the country’s limited investment resources had not been fully utilised.
"Manykey economic regions or economic zones have failed to maximise theirpotential due to poor planning," he said. "Worth mentioning is that bynow we have not been able to find the right path to advance so that wecan avoid the middle-income trap experienced by other countries."
Phucasked workshop participants to come up with suggestions to help thenation to move forward. He asked them to focus on the core issues for adevelopment model in the implementation of industrialisation andmodernisation.
He listed three bottlenecks in economic growth,namely institutions, quality of human resources and infrastructures andasked participants to focus on them.
During the workshop,delegates came up with various models for the national economy. Forexample, the Central Economics Committee suggested having anindustrialisation model geared toward "modern industry" so that Vietnamcould participate in the global value chain with its comparativeadvantages.
Participants from provinces and cities laid emphasison the scope and scale of the development model in their localities andeach region.-VNA
Addressing a workshop toreview the country's 30 years of renewal in northern Vinh Phuc provinceon March 25, the Deputy Prime Minister stressed economic structuringduring the last 30 years had led to positive changes inindustrialisation and modernisation.
"The deeper, wider andcomprehensive international integration of the economy has presented uswith enormous opportunities," he said, adding "at the same time, it hasalso posed many challenges.”
"Industrialisation and modernisationhas successfully solved relationships between economic growth andcultural development as well as the course of progress and socialequality. As a result, living conditions have been improved while therate of poverty has been reduced; the national defence and security havebeen well maintained; and our national strength and position has beenelevated," he said.
However, Phuc conceded that many problems had to be still addressed.
Industrialisation and modernisation had not well been coordinated, he said.
TheVietnamese industry was dominated by supporting industries with lowvalue added capability, he said, adding that policies forindustrialisation and modernisation of agriculture and rural areas hadbeen implemented slowly and less effectively.
Phuc said that inaddition, the quality of human resources in the agriculture sector wasstill poor. So was the obsolete infrastructure, which he said was amajor hindrance.
He complained that the country’s limited investment resources had not been fully utilised.
"Manykey economic regions or economic zones have failed to maximise theirpotential due to poor planning," he said. "Worth mentioning is that bynow we have not been able to find the right path to advance so that wecan avoid the middle-income trap experienced by other countries."
Phucasked workshop participants to come up with suggestions to help thenation to move forward. He asked them to focus on the core issues for adevelopment model in the implementation of industrialisation andmodernisation.
He listed three bottlenecks in economic growth,namely institutions, quality of human resources and infrastructures andasked participants to focus on them.
During the workshop,delegates came up with various models for the national economy. Forexample, the Central Economics Committee suggested having anindustrialisation model geared toward "modern industry" so that Vietnamcould participate in the global value chain with its comparativeadvantages.
Participants from provinces and cities laid emphasison the scope and scale of the development model in their localities andeach region.-VNA
