6
Accordingly, it is necessary to focus on a number
of key solutions, such as: Removing difficulties
in institutions; Creating favorable conditions
for investment and business; Developing a
knowledge economy; promoting green growth.
The implementation approach also needs to
be reformed in the direction of “learning by
doing” to ensure progress and efficiency in the
implementation of tasks and goals.
Secondly,
it is necessary to maintain the stable
macro economy. In the context of unpredictable
international economic situation, maintaining a
stable domestic economy with few fluctuations
will be necessary to improve the growth
potential. Experience of joining World Trade
Organization (WTO) shows that the Government
should continue to monitor closely and assess
and analyze economic and trade risks, to timely
take suitable macro economic measures.
Thirdly,
it is necessary to change the method
of socio - economicmanagement. The immediate
change is to enhance the role of market tools
in macro management. Specifically, monetary
policy instruments and other instruments
and measures should be used to support the
stabilization of the foreign exchange market,
to manage exchange rates in a timely manner,
in line with the changes in the macro economy,
international and domestic monetary and
financial markets, to manage interest rates in
line with the changes in the macro economy,
inflation and changes in the monetary market.
At the same time, it is necessary to operate in
a focal manner and harmonize the trade-offs
such as short-term growth objectives versus
accelerating reforms in the medium and
long term. Beside that, creating geo-political
policies of the macro economy to cope with the
fast and unpredictable evolution of the world
economy.
Fourthly,
it is necessary to maintain the
market-oriented economic reform in accordance
with the “spirit of integration”. That is to
build a competitive policy that fits in with
good legal practice and puts consumers at the
center, evoking and nurturing creative spirit -
entrepreneurial spirit. However, it is necessary
to ensure that enterprises in competition must
comply with the law and not infringe upon the
rights of consumers.
References:
1. Nguyen Thi Hai Binh –Tran Thu Thuy (2016), Economic development
in the period of 2011-2015 and directions to 2016-2020, Financial
Magazine;
2. Phan The Cong, “Model of economic development based on exports in
Vietnam”, Scientific Magazine of Hanoi National Universtity, Economy
and Business 27,265-27;
3. Tran Du Lich (2016), Vietnam – Economic Overview of the past 5
years, Customs News;
4. Minh Nhung (2017), Particular issues in service sector development,
Investment News;
5. Lan Anh, Pham Tiep (2017), Focusing on restructuring resolutions in
Industrial Sector in Vietnam, Commercial News;
6. Central Institute of Economic Management (2015, 2016, 2017),
quarterly reports of macro economy Financial Publication, Hanoi.
Export
Import
11
months
of 2017
FIGURE 4. GROWTH OF EXPORT & IMPORT IN THE PERIOD OF 2000-2017 (%)
Source: Calculated from the figures of the General Statistics Office
