Int’l seminar on five-year development plan
(VOV) -Seven out of 15 socio-economic development targets, set for the 2011-2015 period, were not fulfilled as scheduled in 2013, told an international seminar in Hanoi on September 23.
The event, jointly held by the Central Party Committee’s Economic Commission, National Economics University, the World Bank (WB) and the National Assembly’s Committee for Economic Affairs, aimed to review the implementation of the 2011-2015 development plan and make strategic adjustments.
Addressing the seminar, Deputy Prime Minister Nguyen Xuan Phuc praised the joint efforts by the government, ministries and agencies in stabilising the socio-economic situation, despite numerous difficulties in the first half of the five-year plan.
As a result, remarkable progress was made in controlling the inflation rate, reducing trade deficit, stabilising interest rates and increasing export revenue, he noted
However, Phuc identified some shortcomings in dealing with bad debts, capital shortage and the economic restructuring process which may prevent all sectors from achieving the targets of the five-year plan.
The Deputy PM affirmed the party and government’s strong determination to take effective measures for economic stabilisation, business reform and stronger competition capacity.
Professor Doctor Tran Tho Dat, National Economics University Vice Rector, said Vietnam’s current corporate income tax of 22% should be lowered to less than 20%.
He also proposed reducing budgetary overspending and speeding up State-owned enterprises (SOEs) equitization.
Many economic experts raised concerns regarding the ineffectiveness of overall development plans in the long run.
They attributed current macro-economic instabilities to unsuitable growth models, inefficient management mechanisms and shortcomings in public spending.
They stressed the need to make adjustments to development strategies in a more practical and effective manner.