(VOVworld) – During discussions of draft documents of the 12th National Party Congress the Minister of Planning and Investment Bui Quang Vinh stressed the need to reform economic institutions for a more prosperous Vietnam. His report drew a lot of attention from Vietnamese economists.
Economist Nguyen Tri Hieu said amid Vietnam’s extensive international economic integration it is necessary to reform economic institutions to develop a socialist-oriented market economy. Luu Bich Ho, former Director of the Development Strategy Institute, said: “It’s essential to create a foundation for the market economy, focusing on property ownership and the private economic sector. Ownership is a core issue for the market economy.”
Economists hope that the party congress will devise directions and policies to reform Vietnam’s economic institutions toward modernization and international integration.