Implementing resolutions of Central Committee’s 5th plenum quickly and effectively

Thursday, 2017-05-11 11:09:27
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NDO - The Party Central Committee’s 5th plenum concluded on May 10 adopting three resolutions set out to fine-tune the socialist-oriented market mechanism, continue the streamlining of State-owned enterprises (SOEs) and develop the private sector into a key driver of the socialist-oriented market economy.

During the Doi Moi period, the Party has always prioritised economic development as a central task of top significance, with the focus being on renovating the economic mindset, transitioning from a centrally planned economy to a socialist-oriented market economy, and building as well as fine-tuning the socialist-oriented market economy appropriate with each development phase, considering this task as a continual process. The Central Committee held lively discussions and developed many new and important ideas.

The Central Committee strongly agrees that the socialist-market economy is a fundamental theoretical and practical matter in Vietnam’s economic development path, a new creation by the Vietnamese Party on the general economic model during the transitional period towards socialism in Vietnam.

The socialist-oriented market economy in Vietnam is one operating completely in line with the laws of a market economy and is oriented towards socialism appropriate with each of the country’s development phases; a modern and internationally integrated market economy under the regulation of a law-governed socialist state, led by the Communist Party of Vietnam, towards the goal of a wealthy people living in a strong, democratic, equitable and civilised country. The plenum thoroughly analysed and evaluated the goals, guiding viewpoints and major solutions to continue fine-tuning the socialist-oriented market economy in the time ahead.

Regarding the continuation of streamlining SOEs, the Central Committee stated that despite having many drawbacks that need to be addressed, SOEs in general have strived to improve their performance and gained many significant results. Along with mechanisms and policies of the State, SOEs are an important tool to guarantee the effective implementation of macroeconomic stabilisation policies, cope with market volatility and curb inflation; while contributing to building and developing socio-economic infrastructure; acting as a major source of government income; and making significant contributions to implementing defence and security tasks as well as social welfare policies. Based on analysing and evaluating the current state of SOEs, especially their weaknesses, the plenum has clearly determined the goals, guiding viewpoints and major solutions in the time ahead to restructure and enhance the performance of SOEs.

Regarding making the private sector into an important driver of the socialist-oriented market economy, the Central Committee stated that after more than 30 years of economic reform, perceptions on the role of the private sector have seen significant changes. From first being regarded as insignificant, the private sector has now been recognised as “one of the drivers” and even “an important driver” in developing the socialist-oriented market economy in Vietnam.

The private sector is making increasingly larger contributions to the economy, creating jobs and improving the people’s standard of living but it has also exposed many limits and weaknesses. With that in mind, the plenum discussed the acquired results in an objective and scientific manner, and analysed the weaknesses and their causes thoroughly. The Central Committee reached a strong consensus on the goals, guiding viewpoints and major solutions to make the private sector grow both stronger and healthier.

Three resolutions on the economy adopted by the Central Committee in this plenum have many new points and are a significant step forward in terms of theory and practicalities in developing the socialist-oriented economy in Vietnam. These resolutions will bring about positive transformations to socio-economic development if implemented properly.

Regarding appraising the leadership and command of the Politburo and Secretariat in 2016, the Central Committee highly agreed with the report and affirmed that the new point of this appraisal is that it was aligned with the implementation of the resolution on Party building and rectification. The appraisal was prepared carefully and took place in a frank, sincere and constructive manner, and is a model for lower Party committees to follow.

With a sense of high responsibility, justice and seriousness, the Central Committee considered disciplinary actions to be taken on Politburo member and HCMC Secretary Dinh La Thang for his shortcomings and serious violations in leadership, command and personnel management while heading the Vietnam National Oil and Gas Group (PVN). His misconduct has left tremendous consequences, adversely affecting the reputation of Party organisations and himself. The Central Committee reached a strong consensus to discipline Thang by warning and stripping him of his Politburo membership. The disciplinary actions taken on Dinh La Thang is welcomed by the public and is a salutary lesson for officials, Party members and the Party building work.

The 5th plenum of the Party Central Committee concluded successfully. In his closing speech, General Secretary Nguyen Phu Trong emphasised that proper implementation of the resolutions and conclusions of this plenum will greatly contribute to bringing the 12th Party Congress resolution into life, creating new energy to stimulate the entire Party and people to successfully fulfil socio-economic development goals rapidly and sustainably and build the Party to be stronger and more transparent.