A fundamental change needed for economic reforms

08-Jun-2016 Intellasia | Dtinews | 6:00 AM Print This Post

The change of the country’s economic structure has once again become a hot topic among business people and law makers following the recent general election.

This is not a new topic. Two years ago, in a NA meeting, minister of Planning and Investment Bui Quang Vinh had proposed a radical shift in human resources, “Several international experts have said to us that we wouldn’t make any reforms at state-owned companies if we keep the old leaders and staff.”

At an international seminar to discuss the World Bank’s report held recently by the Vietnam Chamber of Commerce and Industry (VCCI), the change for economic structure was also a centre for discussion.

Speaking at the seminar, VCCI’s chair, Vu Tien Loc, said: “The form of economic structure will decide the form of enterprises we have. Enterprises and businesspeople will greatly be affected by the economic structure and so it needs special attention.”

Nguyen Van Vinh from the Ministry of Planning and Investment also told the seminar that the reason for Vietnam’s economy lagging far behind many other economies in the region lies in its structure.

“If we don’t have some major changes, we won’t be able to catch up with other countries,” Vinh stressed. “Our economy is now in serious stagnation mode with falling productivity and really need a better structure.”

Meanwhile, NA deputy Duong Trong Nghia compared the economy with a train by saying: Our train is now still running on the same old rail so it won’t be able to reach the horizon.”

Maybe for that reason, PM Nguyen Xuan Phuc chaired a conference with 10,000 enterprises representing the nationwide business community right after taking his post, and pledged that the government would grant the most favourable support possible for the business development and start-up initiatives.

http://english.vietnamnet.vn/fms/business/157434/a-fundamental-change-needed-for-economic-reforms.html

 


Category: Economy, Vietnam

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