The Party Central Committee concluded its weeklong plenum on October 9, 2022 (photo: nhandan.vn)

Economy recovers, finance-budget balances ensured

The conference took place at a time when the COVID-19 epidemic is under control and Vietnam’s economy is recovering steadily with impressive figures that have been highly praised.

In the past 9 months, Vietnam’s GDP grew 8.83%, state revenue reached 94% of the estimate for the year, total social investment capital increased 12.5%, export turnover rose 17.3%, and the trade surplus hit 7 billion USD. It is forecast that by the end of 2022, Vietnam will meet or exceed 14 of 15 set targets.

In his opening remarks, Party General Secretary Nguyen Phu Trong said that the socio-economic situation and the state budget in 2022 and 2023 should be discussed in the context of a world undergoing rapid, complicated, unpredictable and unprecedented changes. He asked the committee to analyze the achievements of 2022 and current limitations, weaknesses, difficulties, and obstacles in order to work out appropriate solutions.

In the remaining months of this year and next year, Vietnam must continue to control COVID-19 and other emerging diseases and strengthen the resilience of the health care sector, while maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

Party General Secretary Nguyen Phu Trong speaks at the plenum (photo: nhanda.vn)

Party Central Committee adopts 3 strategic resolutions

The Committee adopted 3 resolutions of strategic significance including a Resolution on strengthening industrialization and modernization until 2030, with a vision to 2045, a Resolution on building a law-governed socialist state in the new period, and a Resolution on reforming the Party leadership.

In order to successfully realize the goals and tasks set out by the 13th Party Congress, the delegates agreed that industrialization and modernization should be considered a process of fundamental and comprehensive transformation process of the economy, which now relies more on industry, services,  science, technology, innovation, and achievements of the Fourth Industrial Revolution. Strengthening industrialization and modernization is needed for Vietnam to build an independent, self-reliant economy, grow rapidly and sustainably, and become a high-income developed country.

To build and perfect a law-governed socialist state must reform the organization and operation of the National Assembly, improve legislation, strengthen administrative reform, reform the operation of the courts and judicial agencies, promote the people’s role and mastery, and enhance the Party's leadership of the State.

The Party Central Committee stressed the importance of reforming the Party leadership of the State, the Fatherland Front and other social and political organizations and improve the State management to meet the requirements of the new development period.

Making a national master plan

The Committee discussed the building of a National Master Plan for the 2021 - 2030 period with a Vision to 2050 calling it a very important, strategic political task and a fundamental, long-term, but also broad, new, very difficult, very sensitive issue.

In the planning process, priority should be given to strengthening the national infrastructure framework for transportation, energy, digital development, urban development, environmental protection, natural disaster prevention and control, and adaptation to climate change.

The master plan should focus on accelerating economic restructuring, prioritizing the development of industries with great potential and advantages, and developing key economic regions to establish "locomotives" for economic growth. The plan will also focus on developing economic corridors along the North-South and the East-West axis and connecting seaports, international border gates, major trading hubs, urban centers and economic centers.