Central Theoretical Council convenes second session

The Central Theoretical Council convened its second session for 2016-2021 in Hanoi on December 7 under the chairmanship of Dinh The Huynh, Politburo member and standing member of the Party Central Committee’s Secretariat.

At the session

At the session, the council focused on discussing two draft consultant reports on “A number of theoretical and practical issues on completing the socialist-orientated market economy” and a number of theoretical and practical issues on continuing to reform mechanisms and policies to encourage and facilitate the private economic sector.

Addressing the session, Politburo member Huynh urged the Council’s Permanent Board to seriously absorb the opinions and comments on relevant issues expressed by the Council’s members at the session in order to submit them to the Politburo and Secretariat at the upcoming meeting of the Party Central Committee.

The socialist-orientated market economy is an economy operating fully and synchronously according to the rules of a market economy while ensuring a socialist orientation suitable to each period of national development. It is a modern and internationally integrated market economy that is administered by a law-ruled socialist state and led by the Communist Party of Vietnam toward the goal of a rich people and a developed, democratic, equal and civilised country.

It is a type of organisation of the economy based on not only the principles and rules of a market economy but also on the principles and characteristics of socialism shown in three respects: ownership, organisation of management and distribution.

It is an organised market economy led by the Party and administered by the socialist state, which is socially orientated to minimise the defects of the market in order to best serve the interests of the majority of the people and the sustainable development of the country.

(Source: NDO)