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Public investment accounts for a large percentage of total social investment and has made positive contribution to the development of Viet Nam. However, investment efficiency has been low. Investment has been scattered hence investment waste.
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Restructuring commercial banking system is one of the fundamental solutions to restructure the economy of the country at present.
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A cross-cutting policy of our Party and State over the past years has been to strengthen the leading role of the State economy to ensure the socialist-oriented development of the country.
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Years of renovation have resulted in important changes in social structure of Viet Nam. A new social stratum of businessmen has emerged and become stronger. They have increased in number with higher quality and have been operating in many different sectors. They have gradually played a higher role in the socio-political system and have made great contribution to the renovation.
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The Platform on National Construction in the Transitional Period to Socialism (amended and developed in 2011) stated “The socialist society which is being built by the Vietnamese people is a society with prosperous people, strong, democratic, equitable and civilized country. The society is mastered by the people. It has a highly developed economy based on modern labor forces and suitable and progressive production relations…”
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Economic development achieved along with poverty reduction is one of the proud successes of Viet Nam during the stage of renovation. With high determination and creative initiatives, the Party, State and people have made encouraging successes in these two areas.
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On February 2, 2000, the Government promulgated the Decree 03/2000/ND-CP on farm economy. After ten years of implementation, it is time to review and complete policies that were mapped out by the Decree to further develop the farm economy in the future.
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The year 2010 is the final year to implement the 5 year Socio-economic Development Plan2006-2010. The 2010 Socio-economic Development Plan was implemented in the context of Vietnam having to face many difficulties and challenges stemming from unfavourable impacts of the financial crisis, natural disasters and epidemic diseases. However, thanks to the endeavours of the political and administrative system, the business community as well as the whole society, Vietnam has achieved the majority of targets in accordance with the Resolution of the National Assembly.
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The relationship between economic growth and social development in Vietnam is under recent attention. The concerns of this paper are about the characteristics of the economic growth in Vietnam, the differentiation in living standards and some consequences of the economic growth and market mechanism that contribute to this differentiation.
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Over the past years, particularly in 2006-2010 period, at especially difficult communes, there are about 20 policy groups applied with about 30 national target programs and projects carried out aiming at poverty reduction through infrastructure development, production promotion and improvement of people’s life. Hence, the socio-economic situation at these communes witnessed considerable progress.