Vietnam Economic Forum 2016: Restructuring challenges and prospects

In the current period, integration has moved to a qualitatively new stage. Vietnam has completed negotiations and implemented a series of high-level, new-generation integration agreements. Many partners in the Agreements are the world's leading economic powers such as the United States, Japan, Canada, 27 EU economies, Russia and South Korea. The terms of commitment of the Agreements all require high qualifications and standards, and strict implementation conditions. Vietnam must fundamentally change its strength to catch up with these integration structures, enjoy the benefits of integration and advance.

At the Forum, presenting the issue of rearranging thinking to restructure the economy and innovate the growth model, Dr. Nguyen Dinh Cung, Director of the Central Institute of Economic Management, Ministry of Planning and Investment, said that it is necessary to change the policy order by terminating operations and bankrupting businesses that have fallen into bankruptcy, causing a decline in the efficiency of capital and asset use, first of all in the state sector. Besides, improving the efficiency of using capital and assets of the economy, mobilizing capital and social resources.

TS. Nguyen Dinh Cung also made a number of proposals such as transferring farmers' land use rights into capital by eliminating "land allocation and land lease", and at the same time establishing an institution for the primary and secondary use rights market according to the Resolution of the 12th National Congress of the Party to convert, buying and selling use rights that require land for investment, then trading according to the market mechanism, reforming the Budget Law and restructuring budget revenues and expenditures, abolishing the mechanism. “ask-give” for state-owned enterprises.

At the same time, thoroughly apply the principle of competition; There is accountability for directly managing organizations and individuals; Implement state-owned enterprise reform; Abolish industry planning and product planning, except for a few specific ones, but the way of planning and planning management must be changed; Carry out a total inventory of state resources, first of all state assets in the economy and revalue them according to market principles, establish an accounting balance for each unit, organization, locality, ministry, branch and state sector; Restructuring the portfolio of investment capital and assets in the state sector; Give full autonomy to public organizations and units.

In addition, continue to strongly reform, improve the business environment on all aspects from property, property ownership and property ownership protection, market entry, continue to expand business freedom and improve safety, reduce legal risks in business, increase the level of market competition and ensure fair competition, resolve trade disputes...

At the Forum, Vietnam's leading experts in the field of economics discussed and discussed topics: Understanding Vietnam's public debt; Challenges and solutions for restructuring the Vietnamese banking system 2016-2020; Vietnamese private small and medium enterprises are struggling to do business./.