Reshuffle underway to further stimulate revival of economy

Next week, one of the most important issues related to the national economic development is expected to be discussed at the 13th National Party Congress, taking place between January 25 and February 2 in Hanoi – creating a level playing field for all enterprises in all economic sectors to play, especially private firms. According to a draft political report – the most important document compiled and to be discussed by the Central Party Committee at the 13th National Party Congress – the private economic sector “is encouraged for development in all sectors not banned by the law, especially in the sectors of production, business, and services. It is supported in developing private-owned big companies and groups with high competitiveness.” Private enterprises are encouraged to cooperate with state-owned enterprises (SOEs), cooperatives, and households; and to develop joint stock companies with the large participation of all entities, read the draft report. “Foreign investment is an important part of the national economy, playing a big role in mobilising investment capital, technology, and modern management methods, and expanding export markets,” it added. Given the country’s increasing integration in the global economy and the increasingly-growing scale of the domestic economy, the private sector’s role is… Read full this story

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