Party General Secretary Nguyen Phu Trong delivered a speech to open the 5th plenary meeting of the 12th Party Central Committee  on May 5, 2017 in Hanoi. (Photo: Pham Cuong)

During the meeting, the central committee will discuss improving socialist-oriented market economy institutions and rearranging, and reforming State-owned enterprises. The Committee will also review the 15-year implementation of the 9^th  Party Central Committee’s Resolution on development of the private economic sector.  

In his opening address, Trong said over the past 10 years, the implementation of Resolution of the 6^th session of the 10^th Party Central Committee on “continuing to complete the socialist-oriented market economy mechanism” has contributed to economic growth. The Party chief said that the conference’s task is to issue a new resolution for the continued completion of the socialist-oriented market economy mechanism to 2020 with a vision to 2030 on the basis of the 12th Party Congress’ Resolution and the Resolution of the sixth plenum of the 10th Party Central Committee. Party leader Nguyen Phu Trong said: “I call for opinions and high consensus in reviewing the situation, particularly shortcomings and the reasons behind them. From this basis, there should be in-depth analysis of the guidelines and policies to fine-tune the socialist-oriented market economy in Vietnam in the near future.”

Discussing the restructuring and reform of State-owned enterprises, the Party leader said: “It’s necessary to define major targets, guidelines, tasks, and solutions, which will create a breakthrough. High on the agenda will be the concept and role of State-owned enterprises amid strengthened equitization and divestment of State capital from wholly state-owned enterprises. Efforts should be made to reform the organization and operation of State-owned enterprises, particularly economic groups and big corporations. Other topics to be discussed include reforming the model of operation of Party organizations and personnel work in State-owned enterprises.”

Trong also underscored the need to encourage the development of the private economic sector: “Following the Resolution of the 12^th National Party Congress and the country’s reality, the Party Central Committee needs to reach consensus with the Party and people on the goals, major tasks and measures to develop a stronger and healthier private economy, making it a driving force of the country’s socialist-oriented market economy.”

The Party Central Committee’s 5th plenary meeting will conclude next Wednesday.