12th Party Central Committee’s second session makes crucial decisions

The 12th Party Central Committee’s term-long working agenda will focus on reinforcing the Party in terms of political ideology, ethics and lifestyle; building a contingent of strategic officials of high calibre; continuing to renew the Party’s leadership; and stepping up the prevention of corruption, wastefulness and bureaucracy.

It will also continue paying heed to reforming the growth model, raising labour productivity and the national economy’s competitiveness, and improving State businesses’ operations, along with persistently struggling to defend the nation’s independence, sovereignty, and territorial integrity and continuing international integration.

It agreed that the country’s 2016-2020 socio-economic plan must ensure macro-economic stability to achieve higher growth than the past five years; accelerate the implementation of set breakthroughs and restructure the national economy; develop culture and ensure people enjoy social equality and improved living conditions; proactively deal with climate change and protect the environment; intensify defences to firmly safeguard the national independence, sovereignty and territorial integrity, along with maintaining political stability and social order; improve the efficiency of external relations and international integration; protect peace and stability to create a favourable environment for nation-building and defence; heighten the country’s position in the world; and quickly turn Vietnam into a modernity-oriented industrial country.

The Party Central Committee said the mid-term budget plan aims to continue refining the financial institution; ensuring the fair and efficient allocation, management and use of financial resources in line with socio-economic development; gradually restructuring the State budget with priority given to people, social welfare, national defence and security; and boosting administrative reform and monitoring of financial activities to address public debt.

The mid-term public investment plan during the 2016-2020 period needs to focus on building a complete socio-economic infrastructure, the Party Central Committee said. Public investments needed for the work would account for 24-25% of total investments, which are estimated to make up 32-34% of GDP, it added.

Public investment allocation in the period must follow the law on public investment and regulations on the allocation of State budget-sourced investments for development, the Party Central Committee said.

It affirmed that the building and implementation of the mid-term public investment plan and the mid-term finance plan as part of the 2016-2020 socio-economic development scheme will help the Government adapt its plans to the market economy and seek practicality for development investment plans and public investment efficiency.

The Party Central Committee agreed on personnel arrangements for State agencies for submission to the 13th National Assembly’s 11th meeting for election or ratification.

It called on the Party, army and people to maximise their efforts to accomplish tasks set for 2016 and turn the 12th national Party Congress resolution into action.