TAILIEUCHUNG - Orientations and solutions to restructuring of the economy in association with growth model innovation up to 2020

This paper provides some general estimates of the socioeconomic development in recent years and offers some directions and solutions needed for promoting the restructuring of the economy and innovation in the growth model up to 2020. | Vuong Dinh Hue. Journal of Economic Development 22(1), 02 – 19 2 Orientations and Solutions to Restructuring of the Economy in Association with Growth Model Innovation up to 2020 VUONG DINH HUE Central Economic Commission ARTICLE INFO ABSTRACT Article history: The paper is based on Resolution of CPV National Congress XI and Conclusion of the third conference of CPV Central Executive Committee of term XI on restructuring of the economy and innovation in growth model which has been institutionalized and implemented as a central task for the whole 5-year Socioeconomic Development Plan 2011-2015. The implementation of the plan has produced several important results along with certain shortcomings that should be dealt with in the coming years. This paper provides some general estimates of the socioeconomic development in recent years and offers some directions and solutions needed for promoting the restructuring of the economy and innovation in the growth model up to 2020. Received: Nov. 25 2014 Received in revised form: Dec. 21 2014 Accepted: Dec. 30 2014 Keywords: directions, solutions, restructuring of the economy, innovation, growth model. Vuong Dinh Hue. Journal of Economic Development 22(1), 02 – 19 3 1. Problem Statement Resolution of the 11th CPV Congress identified one of the main duties on development in the years 2011–2015 as “achieving macroeconomic stability, innovating the growth model, and restructuring the economy by moving from an extensive growth to a new model incorporating reasonably extensive and intensive growth patterns, enhancing the growth quality and efficiency, ensuring a fast and sustainable economic development, and raising economic independence and self-reliance.” Conclusion No. 10-KL/TW dated Oct. 18, 2011 of the 3rd Conference of the 11th CPV Central Committee declared that economic restructuring should be associated with innovation in growth model by increasing the growth quality, efficiency and competitiveness. Additionally,

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