Industrial transformation is a strategic choice, a top priority

Within the framework of the 5th Ho Chi Minh City Economic Forum 2024 , on the afternoon of September 25, Prime Minister Pham Minh Chinh chaired the Policy Dialogue Session between the Prime Minister, leaders of central ministries and branches, Chairman of the Ho Chi Minh City People's Committee, leaders of provinces and cities with guests, domestic and international corporations.

Also attending were comrades: Nguyen Van Nen, Politburo member, Secretary of the Ho Chi Minh City Party Committee; Phan Van Mai, Central Party Committee member, Deputy Secretary of the City Party Committee, Chairman of the Ho Chi Minh City People's Committee; Vu Hai Quan, Central Party Committee member, Director of Ho Chi Minh City National University; leaders of central and local ministries, branches; international localities having cooperative relations with Ho Chi Minh City, economic experts, domestic and foreign enterprises.

The activity aims to create opportunities for localities and enterprises to have in-depth and substantive exchanges with the Prime Minister and central ministries and branches on the current situation and solutions in applying the industrial transformation model in the City as well as national strategic issues, and at the same time recommend to the Government models, solutions and policies at the macro level.

Prime Minister and leaders of ministries and sectors dialogue with businesses (Photo: VGP/Nhat Bac)

Industrial transformation is an objective requirement, a strategic choice, and a top priority.

Speaking at the opening of the dialogue session, comrade Vo Van Hoan, Vice Chairman of Ho Chi Minh City People's Committee said:

In the past 5 years, the City's economy has continued to develop steadily, playing the role of a multi-faceted center of the region and the country; an economic, financial, commercial, scientific - technological, and innovation center of the region and the country. Every year, the City contributes 20% of GRDP, 25% of budget revenue and the country. In the economic development of the City, the industrial sector plays an important role and accounts for a high proportion of contribution.

The city continues to focus on exploiting its potentials and advantages in industrial development as the country's center of science, technology and innovation; effectively exploiting land resources, highly qualified human resources, applying achievements of the fourth industrial revolution to improve productivity, quality and efficiency of industries and industrial products. To successfully transform industry, in addition to the efforts of businesses and investors, the city needs the support of the Government, ministries, central branches and localities.

The policy dialogue session took place in a lively and substantive manner, in the form of questions and answers. Prime Minister Pham Minh Chinh and leaders of ministries and sectors had in-depth discussions with domestic and foreign experts and enterprises on Vietnam's economic policy orientation, especially in the fields of industrial transformation, green and sustainable development; policies to attract foreign investment; policies, characteristics and breakthroughs to encourage and call for investment in the above fields; breakthrough solutions for science and technology development, policies to attract new-generation FDI, green credit policies, economic diplomacy, etc.

Responding to questions about mechanisms and policies to create breakthroughs to accelerate the economic transformation process, especially industrial transformation, Prime Minister Pham Minh Chinh said that implementing the mechanism of "Party leadership, State management, people as masters", the Party has had policies and guidelines on economic transformation, including the Resolution of the 13th National Party Congress and Resolution 29-NQ/TW in 2022 on continuing to promote the country's industrialization and modernization to 2030, with a vision to 2045.

The Government has been implementing the Party's Resolution on industrialization and modernization of the country. In particular, the Government must grasp the situation, analyze, and propose solutions to promote its unique potential, outstanding opportunities, competitive advantages, and refer to international experience suitable to Vietnam's conditions and world trends.

The Prime Minister said that industrial transformation is an objective requirement, a strategic choice, and a top priority. The Government is focusing on building and perfecting institutions; developing policy mechanisms to mobilize resources to develop infrastructure, especially digital infrastructure, transport infrastructure, climate change response infrastructure, and social infrastructure; improving governance capacity; training human resources; and mobilizing the sharing and assistance of international friends.

Prime Minister Pham Minh Chinh speaks at the Dialogue session (Photo: VGP/Nhat Bac)

Answering questions about mechanisms and policies to promote the development of science and technology, innovation to serve the country's development, including information technology, biotechnology and new materials, the Prime Minister said: To develop science and technology, we must first develop education and training, especially basic science training to lay the foundation for the development of science and technology. Therefore, the Party identifies education and training as the top national policy and promotes the implementation of fundamental and comprehensive innovation in education and training.

From that awareness, the Government has institutionalized it through laws, mechanisms, policies, programs, etc.; mobilized resources for science and technology development; had solutions for cadres, encouraged people to dare to think, dare to do, dare to take responsibility, for the country and for the people.

Regarding the question of foreign direct investment (FDI) attraction policy, Prime Minister Pham Minh Chinh said that to develop Vietnam, internal resources are identified as fundamental, strategic, long-term, and decisive; external resources are important and breakthrough, including resources from FDI. Because foreign investors not only bring finance, technology, management, human resource training to Vietnam, but also help shift the economic structure towards modernization, create more jobs for people and increase state budget revenue.

To attract foreign investment, Vietnam has been perfecting its institutions, cutting administrative procedures, promoting decentralization and delegation of power; promoting infrastructure development, especially transport infrastructure, digital infrastructure, and social infrastructure to reduce logistics costs and compliance costs for businesses; providing high-quality human resources, especially those for emerging industries..., with the motto "open institutions, smooth infrastructure, smart people and management".

Affirming that Vietnam always protects the legal and legitimate rights and interests of enterprises; does not criminalize economic and civil relations, the Prime Minister hopes that investors will feel secure and continue to invest long-term and effectively in Vietnam.

Regarding the content of building digital infrastructure - an important foundation for the development of the digital economy and digital society, Prime Minister Pham Minh Chinh affirmed that we are determined not to have a power shortage and must provide clean electricity. At the same time, we must cover remote areas in all remote, border and island areas. We have been determined to develop transport infrastructure, but with digital infrastructure, we are even more determined, following the world trend. Besides political determination, mechanisms and policies for mobilizing resources are very important, we are learning from world experience to build a comprehensive and effective digital infrastructure development institution.

Delegates attending the Dialogue session (Photo: VGP/Nhat Bac)

Regarding the question of what the Government has done to promote the development of green economy and circular economy, Prime Minister Pham Minh Chinh said that due to climate change, resource depletion, etc., the issue of green development and circular economy has been promoted and Vietnam is determined not to sacrifice the environment for mere economic growth. The Prime Minister emphasized that environmental issues affect all people and all countries, so a global, all-people approach is needed. In particular, it is necessary to raise people's awareness and have policies to mobilize people's participation in developing green economy and circular economy, etc.

Responding to questions about the progress of the Central and local governments in implementing Vietnam's commitment at COP26 to reduce net emissions to zero by 2050, the Prime Minister said that the Central Government is currently making policies, guidelines, mechanisms, laws, programs, plans; training human resources, improving management capacity, mobilizing capital sources... for this issue. Localities must proactively implement according to their authority to implement the Central Government's guidelines, guidelines, and policies, applying them in the best way suitable to specific conditions and circumstances; mobilizing the participation of people and businesses.

We must build institutions with Ho Chi Minh City to continue promoting the city's resources.

In his concluding remarks at the dialogue session, Prime Minister Pham Minh Chinh welcomed Ho Chi Minh City for successfully organizing the 5th Economic Forum on an increasingly large scale, with profound and comprehensive issues, receiving the attention of many international partners. Appreciating the theme of the Forum focusing on industrial transformation, the Prime Minister said that industrial transformation is a broad topic, a distinct potential, a competitive advantage of Ho Chi Minh City and also a topic of international topicality. The Prime Minister assessed that Ho Chi Minh City is always at the forefront of innovation, always a growth center, a pioneer in many fields, in innovation of mechanisms, policies, sustainable socio-economic development, ensuring social security, etc.

Prime Minister Pham Minh Chinh expressed his agreement with the delegates’ opinions on the need for comprehensive industrial transformation in Ho Chi Minh City, building a civilized, modern city, developing in harmony between nature and people, between economy, society, and environment. The Prime Minister said that industrial transformation must renew traditional industries (mechanical engineering, chemicals, etc.) and develop new industries with broader concepts, related to new fields of digital economy, green economy, sharing economy, circular economy, knowledge economy, etc.

At the Policy Dialogue session this afternoon, representatives of ministries and branches also frankly shared about many contents that domestic and international delegates are interested in (Photo: VGP/Nhat Bac)

In order for Ho Chi Minh City to achieve this, Prime Minister Pham Minh Chinh emphasized the need to build and perfect institutions, especially since the city has been issued a resolution by the National Assembly on a number of specific mechanisms and policies. Along with that, it is necessary to develop synchronous and modern infrastructure, focus on training high-quality human resources, smart governance and have solutions to mobilize resources through promoting public-private partnership. The city builds smooth infrastructure, open institutions, smart governance, creates favorable conditions for investors, increases support for businesses and improves the environment, business investment, and enhances competitiveness.

Referring to the responsibilities of the Government and central ministries and branches, the Prime Minister stated that it is necessary to build institutions with Ho Chi Minh City, focusing on prioritizing mechanisms and policies to continue promoting the city's resources, building a common strategy for the whole country, including a separate strategy and specific mechanisms for the city. For businesses, the Prime Minister called for the spirit of "harmonizing interests and sharing risks". To meet the requirements of businesses, the City must ensure "transparent infrastructure, open institutions, and smart governance" for businesses to develop; successful businesses are also the success of the City and the whole country.

For partners, Prime Minister Pham Minh Chinh wishes to give Vietnam financial incentives; promote technology transfer so that Vietnam can participate in global value chains, supply chains, and distribution chains; contribute to training human resources for Vietnam; share experiences in governance; contribute ideas to help Vietnam perfect its institutions, etc.

Emphasizing the spirit of "listening and understanding together; sharing vision and action together; working together, enjoying together, winning together, developing together; enjoying joy, happiness and pride together", the Prime Minister believes that with sincerity, the delegates attending the Forum "Industrial transformation, a new driving force for sustainable development of Ho Chi Minh City" and the Policy Dialogue will all bring back a "gift", which is the knowledge that the Forum and Dialogue bring.

After this Forum, Prime Minister Pham Minh Chinh requested Ho Chi Minh City and relevant ministries and branches, according to their functions, tasks and authority, to study and review opinions, discussions and proposals from businesses, investors and experts and scientists to promptly resolve, handle and absorb and perfect mechanisms and policies./.

Source: https://dangcongsan.vn/lanh-dao-dang-nha-nuoc/chuyen-doi-cong-nghiep-la-lua-chon-chien-luoc-uu-tien-hang-dau-678891.html