Continue to research and build a new economic development model associated with the high growth period.

Based on the results achieved in the economic restructuring process in the 2021-2025 period, the Government determined to continue researching and building a new economic development model associated with the high growth period to exploit and promote new growth drivers, taking advantage of the achievements of the Fourth Industrial Revolution.

On the afternoon of October 20, continuing the 10th Session, the National Assembly listened to Deputy Prime Minister Ho Duc Phoc present a Report on the implementation results of Resolution No. 31/2021/QH15 of the National Assembly on the Economic Restructuring Plan for the 2021-2025 period.

10 targets are likely to be completed, 4 targets are expected to be incomplete

Presenting the Report on the implementation results of Resolution No. 31/2021/QH15 of the National Assembly on the Economic Restructuring Plan for the 2021-2025 period, Deputy Prime Minister Ho Duc Phoc said that for the 27 targets set out in Resolution No. 31/2021/QH15, up to now, 23/27 targets have assessment information. Of which, the number of targets that are likely to be completed is 10/23 targets; the number of targets that are unlikely to be completed is 9/23 targets and the number of targets expected to not be completed is 4/23 targets.

Deputy Prime Minister Ho Duc Phoc presents the Report. Photo: Quang Khanh

Some indicators such as labor productivity growth, number of enterprises, number of agricultural cooperatives applying high technology, rate of agricultural cooperatives linked with enterprises in value chains, proportion of expenditure on science and technology, in the implementation process, encounter many difficulties and challenges, requiring great efforts to achieve.

For the 5 key task groups in Resolution No. 31/2021/QH15 of the National Assembly set out for the 2021-2025 period, the Government has issued Resolution No. 54/NQ-CP with 102 tasks being implemented and bringing about many important results. To date, 86/102 have been completed (accounting for 84.3%); 16/102 (accounting for 15.7%) tasks have drafts and are continuing to be implemented.

Delegates attending the meeting. Photo: Quang Khanh

In particular, regarding the restructuring of the state budget, the reform of institutions and laws related to the restructuring of the state budget continued to be implemented in the direction of strengthening the leading role of the central budget, the autonomy and initiative of local budgets; enhancing the role of financial policies in mobilizing, allocating and effectively using domestic and foreign resources for priority socio-economic development goals. The tax policy system continued to be improved in the direction of synchronization, covering revenue sources, expanding the revenue base and increasing the proportion of domestic revenue.

Regarding restructuring public investment, investment institutions have been reformed, with emphasis on public investment; drastic direction and management have removed many difficulties and obstacles in implementing investment projects, contributing to accelerating the disbursement of public investment capital, thereby promoting growth recovery.

Regarding the restructuring of state-owned enterprises, according to the Government's report, the completion of the system of policy mechanisms and laws to remove difficulties and obstacles in order to accelerate the progress of equitization, divestment and limit the loss of capital and state assets in the process of restructuring state-owned enterprises. Thereby, it has facilitated the restructuring of state-owned enterprises, ensuring strictness and transparency, maximizing the benefits of the State. The leading role of state-owned enterprises in a number of key areas and sectors has been strengthened, contributing to the restructuring of the economy associated with the innovation of the growth model.

Delegates attending the meeting. Photo: Quang Khanh

Restructuring credit institutions associated with bad debt settlement continues to be implemented in the 2021-2025 period, focusing on perfecting institutions, in accordance with market principles, in order to create a clear and substantial change. In particular, focusing on implementing the direction of competent authorities on restructuring and handling weak credit institutions, ensuring stable operations and supporting these credit institutions to gradually recover. And, implementing the direction of credit institutions to complete and resolutely implement the restructuring plan associated with bad debt settlement in the 2021-2025 period; promoting bad debt settlement and bad debt recovery; improving credit quality, preventing and limiting new bad debts.

Deputy Prime Minister Ho Duc Phoc affirmed that the economic structure continues to shift positively, the contribution of industry and services to GDP continues to increase (from 78.5% in 2020 to 80.33% in 2025). The application of digital technology and digital transformation has become popular in industries, fields, localities, and daily life activities, and production and business activities have increased their contribution to economic growth. The structure between industries and within industries has shifted towards modernization, promoting green economy, enhancing the application of science and technology, improving productivity, quality, efficiency, competitiveness, and maximizing potentials and advantages.

Exploiting and promoting new growth drivers

Pointing out some key points in directing and implementing the tasks and solutions to restructure the economy, the Deputy Prime Minister said that in the coming time, he will continue to focus on perfecting the institutions and legal system to remove barriers and promote the process of restructuring the economy. He will promptly issue documents to implement the laws recently passed by the National Assembly.

At the same time, speed up progress and complete the restructuring goals of key areas. Promote disbursement of public investment capital and national target programs, striving to achieve a disbursement rate of 100% of the plan for 2025. Effectively implement solutions to promote business development, promote restructuring of state-owned enterprises. Actively deploy the construction of a digital government and policy solutions to improve and upgrade the quality of the investment and business environment.

View of the meeting. Photo: Ho Long

Focus on promoting the leading role in innovating the growth model of large cities and growth poles. Accelerate the transformation of industries towards the use of modern technology; develop green economy, circular economy, digital economy. Develop all types of markets, enhance the application of digital technology with breakthrough solutions, strong, comprehensive, synchronous and extensive reforms to promote economic restructuring.

Based on the assessment results of the situation and implementation results of the Economic Restructuring Plan for the 2021-2025 period, the international and domestic context and solution orientations for the last months of 2025, the Government also identified 3 groups of tasks to continue to be implemented in the coming time.

The Deputy Prime Minister emphasized that he will continue to research and build a new economic development model associated with the high growth period to exploit and promote new growth drivers, take advantage of the achievements of the Fourth Industrial Revolution; apply science and technology, innovation and digital transformation; develop digital economy, green economy, circular economy, data economy...

This model requires quantifying the indicators to measure the proposed goals; ensuring macroeconomic safety, identifying internal movements between each region and economic sector; improving labor productivity; helping to participate deeply in the global value chain; controlling unpredictable risks and fluctuations...

Source: https://daibieunhandan.vn/tiep-tuc-nghien-cuu-xay-dung-mo-hinh-phat-trien-kinh-te-moi-gan-voi-giai-doan-tang-truong-cao-10391097.html