Strong development of private economy together with connection between regional FDI sector and domestic sector

Illustration image. Photo: Vipaco

Pursuant to the Government's Resolution No. 01/NQ-CP and the Government's Working Program in 2022, the Prime Minister and the Minister of Planning and Investment have just signed and promulgated Directive No. 01/CT-BKHDT on implementing Resolution No. 01/NQ-CP of the Government.

Accordingly, the Minister of Planning and Investment requested to continue to improve the legal framework and enhance efficiency in the development of legal documents. Strictly control the regulations of investment and business conditions, administrative procedures, and reporting regimes to ensure the consistency of the legal system, meet the requirements of international integration and socio-economic development, improve the investment and business environment, flexibly and safely adapt to the Covid-19 pandemic.

The Ministry of Planning and Investment also requested units to guide ministries, central and local agencies to allocate, manage, and improve the efficiency of using public investment capital in accordance with the provisions of the Law on Public Investment, resolutions of the National Assembly, the Government and Decisions of the Prime Minister.

Besides that, researching and promulgating in accordance with its competence or submitting to competent authorities for promulgation solutions for the disbursement of public investment capital in 2022, especially important national projects and national target programs. Also, strengthening inspection and supervision of investment projects using state capital in order to ensure compliance with regulations, efficiency, practice thrift, fight waste, and comply with provisions of the law.

One of the solutions proposed by the Ministry of Planning and Investment is to accelerate economic restructuring in association with renovating the growth model, improving productivity, quality, efficiency and competitiveness of the economy.

Focusing on removing obstacles, drastically improving the business and investment environment, and enhancing national competitiveness. In addition, strongly developing the private economy, strengthening the connection of the FDI sector with the domestic economic sector. Encouraging enterprises to invest in agriculture and rural areas; scientific and technological research and development; effectively participate in clusters and chains; focus on industries with potential for chain development.

Besides that, organizing the implementation of the project "Restructuring and improving the efficiency of state-owned enterprises, focusing on economic groups and state-owned corporations in the 2021-2025 period" after being approved.

At the same time, the ministry accelerates the restructuring, equitization and divestment of state capital in enterprises, consolidating and developing a number of large-scale state economic groups which operate efficiently and competitively. Also, coordinating to speed up the construction of key infrastructure projects, strengthen regional, inter-regional, and international connections, especially important transport infrastructure works.

Urgently completing and submitting to the National Assembly for decision investment policies in important national projects in the 2021-2025 period.