22:18 (GMT +7) - Wednesday 19/12/2018

Vietnam Today

Vietnam Reform and Development Forum 2018 held

Released at: 18:57, 05/12/2018

Vietnam Reform and Development Forum 2018 held

Photo: VGP

MPI forum held in Hanoi on December 5.

by Ngoc Lan

The government will accelerate the reform of administrative procedures, promote a startup spirit among young people, and develop the private sector, Prime Minister Nguyen Xuan Phuc told the Vietnam Reform and Development Forum 2018 (VRDF) with the theme “New Vision, New Drivers of Economic Growth in the New Era”, held by the Ministry of Planning and Investment (MPI) on December 5 in Hanoi.

According to the Prime Minster, VRDF 2018 shows that Vietnam has reached a turning point and become a middle-income country, with dynamic integration into the regional and world economies after more than 25 years while at the same time being willing to share its experience and actively address global issues.

In his opening address, Minister of Planning and Investment Nguyen Chi Dung said the forum is expected to become the largest annual reform and development forum in Vietnam, with the participation of specialists and leading academics from around the world suggesting feasible solutions and actions for reform and development.

Vietnam, he said, is facing the historical requirement of radical reform and innovation to continue to grow. “Otherwise, we will immediately lag behind,” he added. “This is the ‘golden time’, because we are standing before precious opportunities.”

The Vietnam Economic Policy Framework was also released at the forum, which has been prepared since the end of 2017.

The document collects the Party and State’s guidelines and policies, provides updates on the latest happenings around the world, and refers to Report 2035 to introduce Vietnam’s mid and long-term development policies.

Prime Minster Phuc affirmed that the document sends to the business community, international organizations, managers and the Vietnamese people a clear message about its determination to build a constructive government, bolster development and action for further enhancing renovation and improvements to the business and investment environment, and mobilize resources for developing a nation of prosperity, harmony, and sustainability.

According to the document, in goals for mid and long-term development to 2035, Vietnam will become a middle-income country with annual GDP per capita of $10,000 and more than half of its population will join the global middle class.

Reforms focus on the modernization of the economy and the development of the private sector, building national innovation capacity and improving the economic effectiveness of urbanization and territorial development, modern institutions, and effective government.

Other issues referred to include the sustainable development of the environment and the enhancement of climate change adaption as well as ensuring equality and the promotion of social integration.

Growth drivers are defined as including a streamlined, effective, and efficient political system, modern and synchronous infrastructure, human resources and innovation, and private sector development.

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