Building an independent and self-reliant economy

Harvard wants to hear about Vietnam’s vision

Emphasizing the new challenges that Vietnam faces in the coming period of development, Prof. Thomas J. Vallely, Director of the Vietnam Program, Kennedy School of Public Policy (Harvard University), said the audience was very interested. listen to Prime Minister Pham Minh Chinh’s views on this issue. Mr. Douglas Elmendorf, Rector of the Kennedy School of Public Policy, expressed his wish to listen to the Prime Minister’s statements on Vietnam’s development philosophy, vision and strategy.

According to Prime Minister Pham Minh Chinh, Vietnam affirms its consistent policy of sticking to the line of renovation, opening-up, initiative and active integration with the outside world. The innovation path is based on three pillars, including elimination of subsidized bureaucracy, multiple ownership, and integration. Create a favorable environment and conditions, protect the legitimate and legitimate rights and interests of enterprise, an investment partner on the principle of ensuring harmonization of benefits, sharing risks and complying with the law. Thanks to the doi moi policy, especially building an independent and self-reliant economy associated with proactive and active international integration, from an underdeveloped economy, after more than 35 years of doi moi, Vietnam has grown strong.

Prime Minister speaks at Harvard University Duong Giang

Independent and self-sufficient but does not mean self-sufficient

The Prime Minister said that in the context of the complicated world situation, countries must build an independent and self-reliant economy, reduce the impact of external shocks and affirmed “this is the general trends and the wishes of most countries”. However, Prime Minister Pham Minh Chinh also emphasized: “Independence and self-reliance does not mean closure, self-sufficiency, and self-sufficiency, but is associated with the policy of opening up and integrating”.

In the current context, Vietnam needs to continue to promote the building of an independent and self-reliant economy associated with proactive and active international integration extensive, for three main reasons. Firstly, to contribute to solving the big problems facing Vietnam. Secondly, this is one of the key factors to ensure independence, sovereignty and national interests, which is an objective necessity of opening up and international integration. Thirdly, it helps to improve the capacity and potential for deep and effective integration in the global economic system and well implement international commitments.

Regarding the main viewpoints, goals and ideology of building an independent and self-reliant economy, the Prime Minister said that it is building an economy with a reasonable, effective and sustainable structure. Improve resilience and competitiveness of the economy; adapt flexibly and effectively to changes in international, regional and domestic situations. Making good use of opportunities from international integration, creating a driving force for a fast and sustainable recovery. At the same time, special attention should be paid to progress and social justice, “not sacrificing social progress and justice to pursue economic growth alone”.

Accordingly, Vietnam builds an independent and autonomous economy associated with international integration based on three pillars: building a market economy Socialist orientation, building a socialist rule of law state and building a socialist democracy, in which, clearly identifying people as the center, the subject, both the goal and the driving force of development. Arousing the aspiration to develop on the basis of fundamental factors, the main pillars are people, nature and historical traditions, cultural. Internal force is basic, strategic, long-term, decisive. External force is important, breakthrough, regular, and at the same time strongly promotes the process of transforming external force into internal force. Strengthen the mobilization of social resources in the form of public-private cooperation, especially for investment in the development of the infrastructure system. Focus on implementing and creating clear changes in 3 strategic breakthroughs in institutions, human resources and infrastructure systems. In particular, it is necessary to focus on creating a breakthrough in the development institution, first of all, the institution for the development of a socialist-oriented market economy.

To achieve the set goals, the Prime Minister emphasized that the first task is to maintain independence, sovereignty, territorial integrity, socio-political stability, create a foundation and favorable conditions for development. develop an independent and self-reliant economy associated with extensive international integration. The second is to perfect the socialist-oriented market economy institution in a synchronous, modern and integrated manner, in line with international commitments. Third is to maintain macroeconomic stability. The fourth is to focus on restructuring the economy in the direction of relying mainly on science and technology, innovation, resource saving and green growth. Fifth is to mobilize all social resources, promote the important role of domestic and foreign enterprises. Friday is human resource development and modern governance.

The Prime Minister mentioned a number of specific annual goals to strive for by 2025 such as 4.0 competitiveness among the top 50 countries; innovation capacity among the top 40 countries or higher…

Concluding his speech, the Prime Minister highly appreciated the performance of Fulbright University and the Senior Management Leadership Program (VELP) jointly implemented by Harvard University and Vietnamese Government agencies.