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State’s management must respect law of market to facilitate private sector: PM

Permanent members of the Government held a meeting under the chair of Prime Minister Nguyen Xuan Phuc on February 18 to discuss a draft plan on comprehensively reforming the State’s economic management.
State’s management must respect law of market to facilitate private sector: PM ảnh 1Prime Minister Nguyen Xuan Phuc (centre) speaks at the meeting on February 18 (Photo: VNA)
Hanoi (VNA) – Permanent members of theGovernment held a meeting under the chair of Prime Minister Nguyen Xuan Phuc onFebruary 18 to discuss a draft plan on comprehensively reforming the State’s economicmanagement.

The draft plan is intended to carry out the Party CentralCommittee’s Resolution No 10-NQ/TW on developing the private economic sectorinto an important driving force of the socialist-oriented market economy.

Providing a summary of the draft, Minister of Planning andInvestment Nguyen Chi Dung said with five groups of solutions and 25 tasks, theplan targets that by 2030, the State’s management methods will be reformed in afundamental and comprehensive manner and aligned with international principlesand practices so as to create a favourable business climate for all economicsectors, thereby helping to achieve the targets relevant to the privateeconomic sector stated in Resolution No 10-NQ/TW and the Government’sResolution No 98/NQ-CP.

Besides, policies and laws on economic affairs will be madein a way that respects the law of market, ensures consistency andcomprehensiveness, and treats businesses and organisations equally, regardlessof which economic sectors they belong to.

Addressing the event, PM Phuc emphasised the importance ofthis plan, which has a “very large” scale and scope as it will greatly affect anumber of sectors and areas, particularly in the country’s new development periodafter the 13th National Party Congress.

As the private sector has grown rapidly in the recent pastwith the emergence of many major firms, the draft needs to point out obstaclesto this sector’s development and set forth solutions, he said.

The Government leader requested that the draft should take into account thecountry’s situation; the fast changing international situation; impacts ofnatural disasters, climate change, and the COVID-19 pandemic; along with thestrong development of science-technology and the Fourth Industrial Revolution.

It should thoroughly grasp the 13th NationalParty Congress’s documents and resolution, which includes many new viewpointsand orientations for the State’s economic management.

Solutions to remove hindrances facing production and business activities,including those of the private sector, also need to be provided in this draftin order to facilitate private businesses’ operations in Vietnam, the PM noted.

The State’s management activities must respect the law ofthe market to promote the socialist-oriented development of the privateeconomic sector, he said, adding that every potential and advantage should be fully optimised so as to foster the fast and sustainable development of this sector as inline with the 13th National Party Congress’s resolution.

Also on February 18, permanent Government members lookedinto a draft report on public borrowing and public debt repayment during2016-2020 and a plan on this issue for 2021-2025 which will be submitted to theNational Assembly./.
VNA

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