New minister on upcoming reform: expect certain friction

By    April 15, 2016 | 01:25 am PT
New minister on upcoming reform: expect certain friction
Investment and Planning Minister Nguyen Chi Dung
Vietnam has wrapped up its leadership transition, and the new administration has so far shown determination to embark on economic reforms. 

“Reform is an indispensable and irreversible trend. It is important for the development and advancement of the country. We are determined to uphold this spirit in the years to come in an attempt to build a modern market-based economy and create favorable conditions for socio-economic development,” Vietnam News Agency quoted newly-appointed Minister of Planning and Investment Nguyen Chi Dung as saying on Thursday as he was sworn into office.

Dung said the ministry will be in charge of reforming the legal framework and making significant amendments to the Investment Law and Enterprise Law.

“We will set up teams to work on these two laws,” he said.

Dung explained that the ministry will “build an institution which is more aligned with a fully grown and modern market-based economy”.

The Communist Party and the government have agreed on restructuring the economy. This decision has been made public through party resolutions and government guidelines. The main obstacle holding back the reform process is how to coordinate related ministries and agencies to work together and reach a consensus in favor of restructuring the economy.

Minister Dung said ministries and agencies have an obligation to follow the party’s decision as well as carry out the government’s plans to restructure the economy.

“When we are replacing old things with new things, you should expect certain friction. From my point of view, some are for, some are against. However, the most important thing is actually doing what should be done and doing what is right,” said Dung. “For those against, we need to get them on the same page as us and make them understand that this is for the advancement of the country,” the minister added.

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