Institutional reform – a driving force in the fight against waste.

Institutional reforms with appropriate regulations are considered a crucial solution to promote the fight against waste and the practice of effective thrift.

Practicing thrift and combating waste is a major policy of the Party; however, this is a broad and very difficult area. So what solutions are there to effectively combat waste?

Sharing his views on this issue, on the sidelines of the forum " Ministry of Industry and Trade : Combating Waste, Unlocking Development Resources," held on the morning of December 23rd, Dr. Phan Duc Hieu, Standing Member of the National Assembly's Economic Committee, stated that, first and foremost, it is necessary to emphasize why combating waste is crucial in socio-economic development.

" Imagine, if we can combat or reduce waste, we will gain resources from the savings caused by waste. Those savings may be small, but they are all resources that can be reinvested in other activities, " said Dr. Phan Duc Hieu.

Dr. Phan Duc Hieu - Standing Member of the National Assembly's Economic Committee

Furthermore, preventing waste leads to increased opportunities, value, and efficiency in socio-economic activities. For example, projects that are properly planned, meaningful, functionally correct, and meet requirements, when implemented early, save resources. “ The 500kV transmission line, put into operation ahead of schedule, has brought enormous benefits in terms of both economics and opportunities for production and business development. This is a prominent achievement of the Ministry of Industry and Trade, not only in its professional work but also in waste prevention ,” Dr. Phan Duc Hieu cited as an example. He added that a power plant, if put into operation early, immediately creates products, economic value, and jobs for workers.

Thus, it can be seen that the role of waste prevention is not only to save resources through waste management but also to increase and enhance opportunities for creating efficient production and business, contributing greatly to socio-economic growth.

Returning to the issue of increasing the effectiveness of waste prevention and saving, Dr. Phan Duc Hieu emphasized that the Party has already outlined solutions. However, at this time, the quality of institutions and legal regulations is the most important factor because all economic and social activities and behaviors are governed by law. Poor quality laws will increase waste and lead to lost business opportunities; therefore, improving the quality of regulations is still necessary.

So how can we improve? The Party has already set the guidelines, but Dr. Phan Duc Hieu says that's not enough. Regulations themselves can create fees and charges, so specific levels are needed to reduce compliance costs, or excessively high limits and investment funds can "stifle" the cash flow of businesses.

Furthermore, unclear regulations lead to lost business opportunities for enterprises. For example, vague regulations assessing a project's conformity with a plan without specifying which plan and what constitutes conformity can cause prolonged project resolution and lost business opportunities.

" Therefore, the key to effectively combating waste and practicing thrift remains institutional reform and focusing more on cutting down on administrative procedures and unreasonable regulations that excessively increase the burden of costs for businesses and the time required for socio-economic activities," Dr. Phan Duc Hieu reiterated.

Source: https://congthuong.vn/cai-cach-the-che-tro-luc-cho-cong-cuoc-chong-lang-phi-365741.html