CPVCC’s 3rd plenary session wraps up
18:31 | 10/10/2011

VGP – The 3rd plenary session of the 11th CPV Central Committee wrapped up this morning after five working days.

Photo: VGP

Digging up the causes

In a frank atmosphere, the session focused on analyzing the country’s current socio-economic performance, the causes of current shortcomings and challenges and a development trend.

The Central Committee agreed that some of the key targets of this year’s socio-economic development plan have yet fulfilled, particularly those pertaining to inflation control and macro-economic stabilization.

The committee members agreed that the national economy is still facing various difficulties and challenges, naming the unstable macro-economy, high inflation, increasing debt, and shrinking foreign currency reserves.

They also pointed to shortcomings that still exist in the fields of education and training, healthcare, culture, and traffic congestion.

Causes to the above situation were impacts of the global financial crisis and economic downturn, and an outdated growth model and economic structure and weaknesses in management work in the country, they noted.

Solution packages

The CPVCC forecast that the global public debt crisis and rising inflation would result in a slow economic recovery in the world this year or even push the global economy into a new recession.

Accordingly, the CPVCC asked for the establishment of good combination between growth pace and growth quality, between high growth and macro-economic stabilization, between inflation control, macro-economic stabilization and renovation of a growth model, and others in the next five years.

It asserted that top priorities for the year 2012 will still embark on curbing inflation, ensuring macro-economic stabilization, and guaranteeing social welfare.

The Central Committee re-affirmed that the overall target of the 2011-2015 period will be fast and sustainable economic development in combination with growth model renovation.

Key elements of economic restructuring

Party General Secretary Nguyễn Phú Trọng said the meeting stressed the urgent need for restructuring the economy in accordance with transforming the growth model.

In the next five years, the economic restructuring must focus on three key elements, namely investment restructuring, financial market re-arrangement, and SOEs renovation.

All strategies, planning schemes, plans and investment policy must envisage the long-term vision which is not twisted by any groups.

The Party chief also stressed the necessity of ensuring food security, suggesting the Mekong Delta to become a hub of rice and other farm produce to meet domestic needs and export  demands.

The CPV Central Committee also demanded an immediate stop to excessive natural resources exploitation and close control over industrial waste.

By Hải Minh

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