Tuesday, February 01, 2005

Resolution on socio-economic goals issued

A new government resolution has been promulgated to achieve socio-economic and revenue goals for 2005. Among the goals are improving the business environment, accelerated economic growth and faster equitisation of State Owned Enterprises.

The Ministries of Finance and of Natural Resources and Environment are to develop instructions by the end of March for the implementation of government directives on the Land Law and completion of land surveys. The Ministry of Natural Resources and Environment is also charged with the task of reclaiming land "that is being used ineffectively."

The Ministry of Planning and Investment (MPI) is to amend enterprise and investment laws to make them applicable to both foreign and domestic businesses and review and amend regulations on the service market.

The Ministry of Labor, Invalids and Social Affairs is to change existing employment regulations "in order to provide more rights for employers in their recruitment."

The resolution also calls on provincial people's committees to simplify admninistrative procedures for investment projects, and abolish pricing differences between foreign and domestic investors.

The government has targeted economic growth rate this year at 8.5%, and plans to attract $19 billion in total social investment. (VNA Jan. 26).


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