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State sector touted as main economic driver again

 VietNamNet Bridge – It is once again stated that the State economic sector plays the leading role in the economy in the updated draft version of the amended Constitution, according to the Committee for Drafting Amendments to the 1992 Constitution.

VietNamNet Bridge – It is once again stated that the State economic sector plays the leading role in the economy in the updated draft version of the amended Constitution, according to the Committee for Drafting Amendments to the 1992 Constitution.

It has been suggested that the amended Constitution should list all economic sectors as it currently does and define the role of the State economic sector, consistent with the Party Congress Resolution.

The drafting committee explained the statement “the State economic sector plays the leading role in the economy” helped identify the pivotal role of the State sector and reflected the nature of the regime.

The committee proposed the draft should alternatively say that “the State develops the socialist-oriented market economy, with various forms of ownership, with various economic sectors in which the State economic sector plays the key role and together with the collective economic sector lays a solid foundation for the national economy.

“The private economic sector is one of the driving forces for the economy, while the foreign-invested economic sector is encouraged for development,” says the draft.

In addition, the committee still kept its opinion that economic sectors should not be listed in the draft amended Constitution in order to maintain the long-lasting stability of this document.

The statement “the State economic sector plays the leading role in the economy” has stirred up controversies.

Nguyen Van Phuc, vice chairman of the Economic Committee of the National Assembly (NA), said many NA delegates had suggested inserting this statement into the draft amended Constitution.

Meanwhile, a report from the Government shows that the majority of its members want this statement to be removed from the draft. Still, some members of the Government agree with this statement, saying that it is consistent with the Party Congress Resolution and the current situation of the economy.

Besides, some say that the word “socialist-oriented” should be eliminated because Vietnam is seeking to be recognized as a market economy.

Victoria Kwakwa, the World Bank’s country director for Vietnam, told the Daily that she hoped the constitution makers would not include the above statement in the amended Constitution.

The State economic sector comprises State-owned enterprises, national resources, State budget and national reserve. However, the fact that State-owned enterprises are going unchecked has driven the economy into multiple problems.

Source: SGT

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