Party General Secretary speaks at the 12th Party Central Committee’s fifth plenary meeting (Source: VNA) The resolutions, signed on June 3, are on continuing tore-organise, renovate and improve the efficiency of State-owned enterprises, completingthe socialist-oriented market economy institutions, and developing the privateeconomy into an important driving force of the socialist-oriented marketeconomy.
The resolution on continuing to re-organise, renovate andimprove the efficiency of State-owned enterprises clarifies that State-ownedenterprises (SOEs) is an important force of the State economy, which helps driveeconomic growth and ensure social progress and fairness.
SOEs are mostly operating in key and crucial sectors,important localities and areas that businesses in other economic sectors do notinvest in.
SOEs operate in line with the market mechanism and competeon a equal basis with other business sectors under law.
The resolution sets a target of restructuring, renovatingand improving SOEs’ efficiency on the foundation of modern technology, innovationand governance basing on international standards, with the aim of mobilizing,distributing and using social resources efficiently, while preserving anddeveloping State capital in enterprises.
In the 2017-2020 period, SOEs will be reformed on the basisof classification criteria for SOEs and enterprises with State capital. By 2018 at the latest, a specialized agencywill be set up to act as the representative of the State ownership and capitalin SOEs.
It also sets a goal that in 2030, almost all SOEs have mixedownership, with the majority being joint stock companies.
Meanwhile, the resolution on completing thesocialist-oriented market economy institutions defines that this is a strategictask and an important breakthrough that create a driving force for rapid andsustainable development, renewing the growth model, restructuring the economyand boosting industrialization and modernization.
The goal is to complete and effectively operateinstitutions of the socialist-oriented market economy by 2030.
Meanwhile, the resolution on developing the privateeconomy into an important driving force of the socialist-oriented marketeconomy targets the healthy, effective and sustainable development of the privatesector, making it an important driving force of the socialist-oriented marketeconomy, contributing to the rapid and sustainable socio-economic development.
Specifically, by 2020, the country is expected to have atleast 1 million enterprises. The figure should increase to over 1.5 million in2030 and to at least 2 million in 2030.
The private sector is hoped to account for around 50percent of the GDP in 2020, 55 percent in 2025, and 60-65 percent in 2030.
ꦦ In the 2016-2025 period, labour productivity shouldincrease by 4-5 percent each year, while the competitiveness of the private sectoris equal to top four ASEAN countries.-VNA
