HCM City builds particular policies for more sustainable development

VietNamNet Bridge – Prime Minister Nguyen Xuan Phuc has urged the health sector to continue improving the quality of human resources and focusing on improving medical ethics, while enhancing the quality of the country’s population. Prime Minister Nguyen Xuan Phuc has urged the health sector to continue improving the quality of human resources and focusing on improving medical ethics, while enhancing the quality of the country’s population.  On Wednesday the Prime Minister chaired a meeting of key cabinet members to consider three development proposals from the Ministry of Health, Ministry of Home Affairs and Ministry of Planning and Investment, which will later be submitted to the Party Central Committee. Commenting on a proposal regarding the protection, care and improvement of people’s health and population, presented by the Ministry of Health, Phuc stressed the need to learn from the progress and achievements made in the region and the world so as to catch up with advanced technology and services. “The Government is responsible for taking care of people’s health and this is a consistent view,” Phuc said, adding that it was necessary to boost resources for the sector. "We, with current human resources, can attract foreign patients to Viet Nam for healthcare. But on the contrary, we spend a lot of money going abroad for medical treatment,” he noted and emphasised the need for mechanisms to build modern medical centres that can meet international standards. The PM also noted issues such as health programmes for the poor and other vulnerable groups,…... [read more]

Nguyen Chi Dung, Minister of Planning and Investment, stressed that Vietnam needs the private sector to step up to its responsibilities and aspirations and grow stronger, faster, to truly become the driving force of the economy. Minister of Planning and Investment     Nguyen Chi Dung 2017 is without a doubt an important milestone in the economic progress of Vietnam, as the 5th plenary meeting of the Party Central Committee issued Resolution No.10-NQ/TW on developing the private sector into an important driving force of the socialist-oriented market economy. Has the private sector ever reached this position before? Looking back at 30 years of doi moi, one of the most important achievements was to promote the private sector. Many new mechanisms and preferential policies were put in place to facilitate the growth of the private sector, promoting the business spirit of Vietnamese people and enterprises. The private sector has made numerous important contributions to the progress of Vietnam, from contributing to the national budget, creating jobs, to helping reduce social problems. In terms of GDP structure, the private sector has contributed the most in the past few years. Since 2010, the sector has contributed more than 43 per cent of the GDP each year. In comparison, the state sector has contributed 28.9 per cent of the GDP, and FDI 18 per cent. The number of private enterprises has also increased sharply. In 2016, the number of newly formed enterprises…... [read more]

The second Vietnam Private Sector Forum (VPSF), chaired by Prime Minister Nguyen Xuan Phuc, is scheduled to be held on July 31 at Melia Hanoi. The first Vietnam Private Sector Forum in 2016 With the theme “From the Party Central Committee's Resolution 5 to the Action Programme of the Private Sector in Vietnam,” the forum will focus on discussions and dialogue between the government and the private sector in three key areas: agriculture, tourism, and the digital economy. Besides, trade facilitation, which is considered essential to the development of economic sectors, will be an important topic for discussion. In the framework of the forum, the signing ceremony of a memorandum of understanding (MoU) between the Vietnam Young Entrepreneurs’ Association (VYEA) and the Mekong Business Initiative (MBI) will be held to co-operate to develop the forum in the upcoming years. After the forum, the organisation board will publish VPSF’s White Book in August. This year the forum will welcome 1,000 delegates, representing the government, ministries, departments, leaders of cities and provinces, international organisations, and business associations, as well as economic experts and numerous CEOs from Vietnamese and foreign enterprises. VPSF is an initiative of VYEA and MBI, funded by the Asian Development Bank (ADB) and the Australian Government. The forum is considered a bridge between the government, public authorities, and the private sector for continuous and close consultation on public and private…... [read more]

In addition to these achievements, Vietnam is implementing a comprehensive integration process with almost all countries around the world. The past 20 years was a glorious period in which we have succeeded in elevating the image of Vietnam regionally and internationally. This fact testifies to the correct renewal process and open-door integration policy of the Party and State, which should be continued in the new period. The renewal process and the open-door policy are two strategic tasks aimed at realising the common goal of national development. They have a close relationship, promote each other and create a driving force for Vietnam to move forward. Renewal is process of casting and removing obstacles, re-organising society, emancipating forces, and effectively mobilising and utilising all resources to create internal strength. The open-door policy is a process of selecting and observing the quintessence of humankind, making anything possible, developing existing strengths and welcoming new sources from the outside. However, the larger the stature of the renewal process and the open-door policy is, the more complicated the issues we face. Renewal requires a high sense of consciousness and constant creativity. Without either elements, the process will come to a standstill or even lag behind. The open-door and integration process also needs will and perseverance because it is a long path on which both outlooks interact, rely on and support each other. With an objective and scientific political stance, the Communist Party of Vietnam has pointed out that on the path to development, we encounter numerous…... [read more]

The fact is that Vietnam has obtained comprehensive and tremendous achievements during the past 20 years of implementing the Renewal process. Thanks to the process, Vietnam has escaped from a socio-economic crisis, secured high economic growth, upgraded infrastructure facilities and improved people’s well-being. “The most impressive thing is that everyone enjoys the fruits of the Renewal process,” said Dr Nguyen Si Dzung, Vice President of the National Assembly Office. The Renewal process, which was launched during the 6th National Party Congress in December 1986, has changed almost all aspects of life. Since its launch there have been numerous drastic changes in production, consumption, investment, monetary and foreign trade policies. The process has created a big source of encouragement for millions of Vietnamese people in production and emulation movements, and has resulted in a high economic growth rate of more than 7 percent annually from 1987. With 25 million people escaping hunger and poverty, Vietnam has been recognised as the most successful nation in the world in reducing hunger and poverty rates. According to Mr Dzung, there have been four major economic gains in the past 20 years. First, the Renewal process helped transform Vietnam’s economy from being centrally planned to the current socialist-oriented market economy – a multi-sectoral and multi-ownership economy. In this new mechanism, the State economy maintains the key role, while the collective and private economies are encouraged to develop without restrictions.Second, from a closed economy based on a self-sufficient mechanism and relying on imports, Vietnam has developed…... [read more]

In mid 1980s, an important political and economic event took place in Vietnam. The eight conference of the 5th Party Central Committee in June 1985 identified the goal of socialist-oriented market economy for Vietnam. At the time, Vietnam had marked 10 years of Southern Liberation and National Reunification, but faced numerous difficulties. Chronic famine and the heavy consequences of the past two wars against French and American imperialists had created problems for the war-torn country. Several years later, the socialist regime in the former Soviet Union and other East European countries collapsed. Vietnam had to select between two options: renewal or death. In fact, the Renewal process formerly began in the agricultural sector with the “allocation” mechanism under the Party Resolution 10 (formerly known as Khoan 10), and the Party leadership at all levels, from production units to district and provincial Party Committees, became the vanguard in the campaign. But the country actually ushered in the Renewal process after the 6th National Party Congress in December 1986. Ten years later, Vietnam fulfilled or even surpassed all socio-economic development targets set for the 1991-1995 period. The country really escaped the economic crisis. In the past 10 years, Vietnam’s economy has developed steadily with an annual GDP growth rate of 7.5 percent. Notably, the country’s GDP growth rate in 2005 reached 8.4 percent, with a GDP per capita of US$640, an increase of 2.2 times against 1995.To develop the national economy, Vietnam has played to the full strength of its internal sources,…... [read more]

To cope with the price fluctuations on the market in recent times, consumers should respond to the situation wisely and calmly. For example, many consumers flocked to buy gold on April 20-21 following fears of price increases. However, two days later, the gold price decreased sharply and the consumers had to suffer huge losses due to their rash decision. Therefore, it is very important to look at the Government’s policies for the market. When the gold price increased, the State Bank of Vietnam quickly directed commercial banks and State jewelry companies to continuously sell gold to stabilise the market. In addition, many companies updated the situation constantly and imported gold. Therefore, the local gold supply cannot be undermined. Regarding prices, gold on the domestic market will experience ups and downs along with the global gold price. Due to political unstability in some countries in the world, oil and gold prices have experienced fluctuations, causing impacts on the domestic market. However, the local market will only be subject to limited impacts as the Party and the State aim to develop Vietnam into a socialist-oriented market economy. The State will conduct timely interventions to cope with fluctuations in prices. During recent days, oil prices on the global market have been experiencing fluctuations, causing impacts on the domestic oil price. The public has expressed concerns about possible oil price increases. Vietnam has to import the entire oil volume for domestic consumption, therefore the country’s oil price follows changes in global oil prices. It’s…... [read more]

Over the 20 years of implementing the Doi Moi (Renewal) process, the private economic sector has strongly developed and played a pivotal role in the country’s multi-sector economy. In 2005, the sector accounted for 38.5 percent of GDP, equivalent to the proportion of the State economic sector (39.22 percent), a 5.4 fold increase against the collective economic sector and a 2.5 fold increase against the foreign-invested sector. The private economic sector employs the largest number of workers, making up 89 percent of the country’s total number of labourers and one third of total social investment capital. It has the most diverse forms of production and business, especially after the Enterprise Law was promulgated in 1999. The number of private enterprises in 1999 rose from 414 to 45,600 enterprises, 110 times against the 1991 level. In addition, three million industrial and commercial households, 11 million agricultural households and 130,000 farms have contributed significantly to developing the national economy. The resolutions of the 10th National Party Congress affirmed that strongly developing all economic sectors including the State, collective, private and foreign-invested sectors and diverse forms of production and business according to the law is important component parts of the socialist-oriented market economy. These economic sectors are equal before the law for mutual long-term existence and development and healthy co-operation and competition. Over the past 20 years, the national economy has done a lot of work. However, in order to define economic sectors, build institutions and create a unified environment for these sectors…... [read more]

In the Doi Moi (renovation) process, with the transition from a planned market economy to a socialist-oriented market economy, the Party and State have adopted many policies to encourage business. The number of registered businesses rose from 4,080 in 1992 to 376,644 by the end of 2008. It is expected that there will be an additional 76,000 businesses this year. The country now has 3.7 million household businesses, including more than 1 million registered households and 14,500 cooperatives, more than half of them non-agricultural. “If we consider entrepreneurs to be owners or managers of economic production or trade units, the country has a total of about 4 million entrepreneurs,” said Loc. The quality of entrepreneurs has improved along with the growth in the number of businesses. Business is like a battlefield. It is not easy to win the battle. During the economic crisis, VCCI reported that 63 percent of Vietnamese businesses were in a fix and about half of them were in danger of going bankrupt. According to its latest survey, 91 percent of businesses have ironed out the snags and more than half of them are on a roll to expand their market. These figures show that many Vietnamese businesses have found the light at the end of the tunnel. However, many newly established businesses are too cash-strapped and short of technological and managerial capacity to compete with foreign partners. Sailing to the great ocean The Party's Politburo assigned VCCI to work out a draft defining the proper role…... [read more]

For the past 80 years, the Party has led Vietnam to glorious historic victories which showed not only the spirit of national great unity but also the Party’s political strength. In the context of global integration, the political power should be strengthened as it is considered the key to every success. The draft political platform for the transitional period to socialism in Vietnam proposed at the 11th Party’s National Congress emphasized that defeating feudalism and imperialism, Vietnam became an independent country and decided to follow the path to socialism. Freed from colonist rules, the Vietnamese people became masters of their own country. From a poor and underdeveloped nation, Vietnam took giant steps toward building an industrialised and modern country, established diplomatic ties with many countries and continued to enhance its position in the region and the world, said the platform. According to researchers, during its 80-year history, the CPV has twice experienced dangerous and difficult situations. In the 1945-1946 period, Vietnam was threatened by internal and external hostile forces, hunger, ignorance, and foreign invaders, but under the wise leadership of the Party, headed by President Ho Chi Minh, Vietnam overcame all difficulties to defend the young revolutionary government and national independence. In 1986, despite the embargo and protests instigated by hostile forces and a socio-economic crisis, the Party rectified its mistakes and shortcomings and launched a renewal process at its 6th National Congress. Great achievements recorded in the past 25 years have proved the Party’s improved policies and its close…... [read more]

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