Thread production assembly line at the Trung Dung Ltd Company in the capital city’s Thanh Tri District. — VNA/VNS Photo Thanh Ha

The Government has adopted a five-point action plan designed to create a good investment and business climate for the development of the private sector.

The plan calls for formulation of policies to ensure conducive conditions to attract private investors and to ensure that the private sector enjoys equal and healthy competition in accordance with market mechanisms.

The Government has tasked all ministries and Provincial People’s Committees to strictly implement their assigned missions to improve the national business environment in order to raise the country’s 2017 competitive capacity and its orientation towards 2020.

The Government has also developed guidelines and policies to renew the country’s growth rate in order to achieve high quality growth with high labour productivity, as well as the competitiveness of the national economy in the period 2016-2020.

The second point calls to eliminate all irrational business conditions in order to promote a fair and healthy business environment for all economic entities. The Government sets a goal to slash from one-third to one-half of the current business procedures and promises to hold regular dialogue with the business community at least twice a year to help iron out difficulties in their operation.

The third goal is to improve enterprises’ access to public infrastructure projects and resources. To do that the Ministry of Transport is assigned to serve as a focal point with help from other ministries and sectors to develop a proposal on multi- mode transport systems with emphasis on the application of advanced technology.

Meanwhile the Ministry of Construction will serve as a focal point with support from concerned agencies to conduct research and develop an urban development proposal for start-ups to be submitted to the Government in the fourth quarter of 2018.

The Government plan pledges to support private enterprises in high tech development as well and human resource development and improve their labour productivity.

The Government has assigned the Ministry of Planning and Investment (MPI) to act as a focal point and work together with concerned government agencies to come up with policies and measures for close linkages between public and private enterprises. The MPI has to submit a report to the Government in the second quarter of 2018.

The Ministry of Science and Technology is assigned to write a report on activities of industrial parks, high-tech cradles, measures to promote technology transfer and application in the country. The report must be submitted to the Government in the second quarter of 2018.

The final section of the action plan calls for Government agencies to improve the performance of their assigned tasks while raising their awareness of private economic development.

The action plan implements the 10th Resolution of the Party Central Committee issued on June 3, 2017. — VNS