MPI confirmed as government general advisory agency

The MPI is the first ministry the PM visited after Tet holiday. Photo: VGP

This morning (February 19), Prime Minister Nguyen Xuan Phuc had a meeting with the MPI, the PM’s first meeting with a ministry or government agency in the Lunar New Year.

Three years ago, at the beginning of his tenure, the PM confirmed the key role of the MPI in providing general advisory on the country’s strategies, master plans, and plans for national socioeconomic development.

After three years of implementing the PM’s directions, Minister Nguyen Chi Dung proudly reported on the achievements and efforts of the MPI and its whole apparatus to the PM.

Minister Dung confirmed that 2019 will be a time for breakthroughs in the implementation of the Party and the National Assembly’s five-year socio-economic development plans, under which the MPI has been assigned numerous tasks and needs to mobilise the utmost of its officials’ abilities.

The PM visiting the MPI. Source: VGP

According to Minister Dung, in 2019 and the years ahead, the MPI should focus on breakthrough development in the production force, accelerating the process of economic restructuring, as well as improving growth quality, productivity, competitiveness, and the implementation of breakthroughs in three strategic areas (developing infrastructure, human resources, and perfecting the institutional system).

It is necessary to create national innovation centres, accelerate growth, improve the performance of governance, and simplify the apparatus of the political system in line with the institution of a modern market economy and international integration.

Besides, the MPI will provide general advice for the development of the private sector, seizing opportunities to attract foreign direct investment (FDI) capital, improving the performance of state-owned enterprises, mobilising private resources, and overcoming difficulties in public investment.

The PM providing directions to the MPI. Source: VGP

Speaking at the meeting, the PM spoke highly of the MPI’s role in improving the business and investment environment, its input to the government’s resolution on the action plan to reduce costs for enterprises and establish a plan to supervise unobserved economic sectors.

The MPI has made crucial contributions to attracting foreign investment to Vietnam, he said, adding that Forbes has recently named Vietnam as the hottest investment destination in Asia.

He asked the MPI to provide consultancy for effective strategies to take advantage of the nation’s potentials as well as propose measures to cope with the risks of being left behind and jumping into the middle income trap.

He referred to issues which limit development, including the gap between the rich and the poor, the aging population, as well as climatic and environmental challenges.

The government leader requested the ministry to offer consultancy to create breakthroughs and achieve socio-economic development goals in 2019 and the upcoming years.

He requested the MPI to issue mechanisms and policies to facilitate breakthroughs for the nation in the next decades by promoting the establishment of an innovation economy, encouraging startups, and increasing trust among the people and enterprises.

PM Phuc stressed the need for Vietnam to avoid the middle-income trap or being stuck as a source of cheap labour, low value processing, and backward technology. Additionally, the country aims to be listed among the top four ASEAN nations and approach the Organization for Economic Co-operation and Development (OECD) standards on business environment.

He asked the MPI to propose specific policies and measures to make the private sector a key force for development, especially small- and medium-sized enterprises, the household economy, and the co-operative economy.

The ministry should join hands with relevant ministries and agencies to uphold and mobilise all resources to forge strategic goals and orientations and focus on reforms and innovation with a view of establishing a more effective institution.

At the event, the PM referred to the preparations of establishing a socio-economic development strategy for 2021-2030 and the 2015-2021 five-year plan in the creation of which the MPI plays a crucial role.