Economic restructuring tops Party conference’s agenda

Addressing the 3^rd conference of the 11^th Party Central Committee in Hanoi on October 6, Mr Trong pointed to difficulties and challenges the country is facing in socio-economic development which require strict guidelines and the firm leadership of the Party. He asked senior Party members to examine objective and subjective causes for shortcomings and make upcoming forecasts to revamp the economy.

He said, an important task of the five-day conference is to set overall objectives and several key targets for the national economy, based on which the National Assembly will consider and make decisions on growth, investment capital, budget spending, inflation, public debts and trade deficit. This will enable the government to execute the economy flexibly in line with the market mechanism and amidst complications.

Accordingly, Mr Trong said top priority will be given to analysing relationships and identifying key areas in order between the growth rate versus development quality; high growth versus macro-economic stability; inflation containment and macro-economic stability versus renewal of growth and economic restructuring; and economic growth versus cultural development, social equality, advancement and security.

He asked Party members to work out solutions to boost the economy, focusing on increasing investment efficiency and restructuring public investment; restructuring the financial market, especially commercial banks and financial institutions; restructuring State-owned businesses and economic groups; and improving the management efficiency for land and other natural resources.

He stressed the need to accelerate administrative and legal reforms, enhance leadership, management and implementation capacity, and better deal with pressing social issues in education, health care and employment.

It is also necessary to tighten principles, and speed up the fight against corruption, waste, and other negative social effects, while ensuring socio-political security and firmly defending national independence, sovereignty and territorial integrity.

During the meeting, Party members will also look at the implementation of Party Rules and Party inspection activity.