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General Secretary stresses continued economic innovation

VGP – General Secretary To Lam stressed the need to continue economic innovation cause, describing it as an urgent task that requires synchronous awareness and actions.

January 09, 2025 9:26 AM GMT+7
General Secretary stresses continued economic innovation- Ảnh 1.

General Secretary To Lam addresses the Cabinet meeting in Ha Noi, January 8, 2025. Photo: VGP

Addressing the Cabinet meeting on Wednesday, To said streamlining the apparatus is the top priority, which not only means downsizing the public workforce and but also requires profound governance reform, increased transparency, stronger decentralization in management of economics, finance-budget, and natural resources.

Laws and management mechanisms should be amended to increase empowerment and autonomy to authorities at all levels while strengthening power supervision and control to prevent abuse of power for personal gains.

The Party chief also called for strong reform of the financial, banking and monetary systems; improvements of the legal system to ensure transparency, uniformity, fairness, and swift resolution of overlaps and inconsistencies within the current framework in order to create a stable legal foundation that is easy to comply with.

It is necessary to give priority to building a legal corridor for new economic models, to effectively implement laws on intellectual property rights to encourage innovation in the society, said To.

He emphasized that achieving double-digit growth in the future would mainly depend on how Viet Nam carries out economic innovation cause

To underscored the need to prioritize growth, maintain macroeconomic stability and control inflation, saying there a vital goals to build a strong and stable economy.

In order to achieve the growth goal of 8 percent in 2025 and double-digit growth in the 2026-2030 period, To emphasized the need to take comprehensive and effective measures such as creating breakthroughs in institutional formulation, upholding market principles in mobilizing and allocating resources, while abolishing "ask-give" mechanism.

To stressed the need to promote the strength of people and all economic sectors by building an effective and dynamic administration regime, a safe, transparent and low-cost business environment that meets international standards in a bid to stimulate entrepreneurship.

The State protects the right to lawful property and the right to do business and adopts policies to encourage the development of tech-based, innovation-based business models.

It is necessary to step up digital transformation, development of digital economy, and expansion of connectivity between administrations, enterprises and people; to improve sandbox mechanism for development of digital economy, green economy, and circular economy, the Party leader suggested.

He also called for reforming State-owned enterprises to make them more transparent while strengthening the role of private sector.

The General Secretary called for focusing investments in strategic infrastructure development, especially road, railway, expressway, seaport, airport, energy and climate change adaptation projects; continuing to perfect mechanisms and policies in favor of power and renewable energy development, especially hydrogen and nuclear power.

To also called for drastic realization of initiatives and commitments at the COP26, and adoption of solutions to reduce air pollution in big cities, including Ha Noi and Ho Chi Minh City.