Vietnam's communist party calls for more socialism

Mar 29, 2010, 4:16 GMT

Hanoi - The Communist Party of Vietnam's Central Committee wrapped up its plenary session with a call for more socialism in the coming decade, Vietnamese press reported Monday.

The official Vietnam News reported the Central Committee, which is laying the groundwork for the 11th Party Congress in 2011, had submitted documents intended to 'further build Vietnam in its transition towards socialism.'

After 25 years of reforms, communist Vietnam has a largely free-market economy, but state-owned firms continue to dominate many sectors and the relative degree of private-versus-state control is an issue of contention.

Addressing the Central Committee, Party General Secretary Nong Duc Manh called for building Vietnam into a 'modern and socialist-oriented industrial nation.'

Officially Vietnam declares itself a 'market economy with a socialist orientation,' and calls for building socialism are routine.

But recent moves, such as a new Finance Ministry circular providing for potential price controls on private businesses to fight inflation, have raised questions as to whether the country is returning towards a greater role for the state in the economy.

In a brief paragraph of the speech dealing with environmental protection, Manh also said Vietnam should 'actively and effectively respond to climate change.'

The Central Committee will submit four documents to the Party Congress, including a socio-economic development strategy that will set guidelines for state infrastructure spending in the coming decade.