NA calls for review of priority sectors in restructuring plan
By Ngoc Lan - The Saigon Times Daily
HANOI – The National Assembly (NA) Standing Committee on Thursday approved of nine of the twelve groups of solutions laid out in an economic restructuring plan prepared by the Government, but called for a review of priority manufacturing sectors.
The economic restructuring plan was forwarded to the NA Standing Committee on Thursday by Minister of Planning and Investment Bui Quang Vinh on behalf of the Government. The NA will look into the scheme before it makes a decision in May at its next session.
Of the 12 groups of major solutions suggested by the Government, the NA Economic Committee agreed with nine which include synchronizing programs, strategies, zoning plans and development schemes in medium and long terms; perfecting a market mechanism and stabilizing the macro economy; restructuring investment plans including in the state sector and others in the economy; restructuring the corporate sector; reforming agricultural production; improving human resource quality and developing science and technology; and developing social and environment protection solutions.
The economic restructuring plan also recommends prioritizing seven industries in the middle and long terms, including metallurgy, petrochemistry, shipbuilding, sea transport, electronics, green industry and renewable energy, logistics and tourism.
The NA Standing Committee said it wanted a review of these priority sectors to see if any of them was appropriate with the needs of the economy in the years to come and with the development orientations adopted at the 11th National Party Congress.
Metallurgy has long been enjoying subsidized coal and power prices, so its production costs have been low. However, its costs will shoot up when the Government stops power price subsidies for this sector.
Meanwhile, the NA Economic Committee noted the Government should take measures to help labor-intensive industries like textile-garment and aquaculture add value to their products and boost competitiveness.
Moreover, before going before the NA, the plan should identify a specific growth model for the country from now to 2020.
The NA Standing Committee asked the Government to calculate costs for the implementation of the restructuring plan and evaluate its effects on socio-economic targets.