Abolition of State Subsidization Mechanism for Enterprises

09:35, 11/07/2024

Resolution 11-NQ/TW 2017 of the Central Executive Committee of the Communist Party, Session XII, addresses multiple tasks and solutions aimed at perfecting the socialist-oriented market economic institution. Noteworthy contents include the following:

- Eliminate direct administrative intervention mechanisms and state subsidies for enterprises of all economic sectors;- Enhance the transparency of state monopolies and eliminate business monopolies;- Improve legislation on land, resources, and address disputes, complaints, corruption, and wastefulness;- Strongly reform financial policies on land in the direction of simplicity, stability, publicity, transparency, and fairness. Soon complete legislation on property taxes.- Consistently implement market-based pricing mechanisms. Do not integrate social policies into the prices of goods and services;- Manage interest rates according to macroeconomic developments, inflation, and the monetary market.

See details Resolution 11-NQ/TW 2017 issued on June 3, 2017.

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