Maintaining economic security in the context of market economy, international integration, and the Fourth Industrial Revolution

Senior Lieutenant General, Member of the Party Central Committee, Deputy Minister of Public Security
Wednesday, May 10, 2023 09:20

Communist Review - Maintaining economic security is always the top priority of the Party and the State of Vietnam. Public security forces are assigned to play the core role in this process. Currently, the task of ensuring economic security is facing challenges, requiring appropriate solutions to maintain national independence, sovereignty, and economic interests, to identify threats to economic security, and to adopt a quick response strategy.

Police officers give instructions to foreign tourists _Photo: Hanoi Public Security

Maintaining economic security - a major issue in the socialist-oriented market economy

Being well aware of the risks, challenges, and threats to the economy in the context of the market economy and international integration, the Party and the State of Vietnam always give due consideration to economic security. That is obviously expressed in the documents of the Party congresses from the 6th to the 12th National Congress, as well as in many directives of the Politburo and documents of the Government (1). At the 13th Party Congress, through a performance review of 35 years of renovation, economic security was officially mentioned in the direction and tasks of security, creating an important basis for unifying awareness and action within the Party, the entire people, and armed forces, preventing and minimizing emerging risks and challenges of economic security in the context of socialist-oriented market economy, inclusive global integration and the strong development of the Fourth Industrial Revolution.

Thoroughly grasping and implementing the guidelines of the Party, Party committees at all levels, authorities, mass organizations, economic organizations, and public non-business units, ... from the central to local levels have identified their responsibility in maintaining economic security and national defense; The mindset of attaching more importance to economic benefits than national security has been gradually removed; The whole political system has been involved in ensuring economic security. As a result, the macroeconomy is stable, and the size and potential of the economy increase year by year, even amidst the Covid-19 pandemic. Domestic economic autonomy is enhanced. The independence and autonomy of the socialist-oriented market economy in our country are maintained. Foreign investment has gradually increased over the years and remained high in recent years; social security benefits and social welfare are provided.

The system of mechanisms, policies, and laws on economic security has been gradually supplemented and improved. Strategies, master plans, programs, and projects for socio-economic development nationwide, in each sector, in each field, and in each locality have been developed, strictly supervised, and met the requirements of economic growth and national security. Plans to ensure the security and safety of the banking system, finance, currency, state budget reserve, and public debt... have been formulated. The policy response to external economic "shocks" has been proactively implemented; Safeguards measures to prevent acts of profiteering cooperation in economy, trade, tourism, and investment to harm economic health and national interests have been effectively implemented. 

 The People's Public Security Force plays a pivotal role in maintaining economic security

By performing their function of maintaining economic security, Public Security forces have actively prevented, detected, and fought against conspiracy and activities infringing upon economic security, economic crimes as well as economic corruption. They have grasped the situation, proactively advised and proposed to the Party and State policies and solutions in macroeconomic management, economic restructuring, international integration, foreign investment attraction, protection of national interests and security during the process of negotiation, conclusion, and implementation of bilateral and multilateral free trade agreements (FTAs). They have actively advised on improving the legal system, contributing to enhancing the effectiveness of state management in the economy, and creating favorable conditions for production and business development. They have also detected and punished illegal acts of businesses, state-owned enterprises, and credit institutions, contributing to maintaining the financial health of businesses, especially banking institutions. Moreover, they have accompanied ministries, branches, and localities to provide economic, especially in the process of restructuring state-owned enterprises, and developing economic zones, industrial parks, and high-tech zones. A wide range of measures has been taken to maintain security in the areas of energy, environment, major projects, tourism, food, agriculture, forestry, and marine economy. The combat against plots and destructive activities of hostile and reactionary forces as well as all kinds of economic crimes has been conducted. Campaigns have been regularly launched to deter common crimes, economic crimes, smuggling, commercial fraud, and counterfeiting, creating a healthy environment for businesses.

During the process of promoting the socialist-oriented market economy and international integration, in the face of the strong impacts of the Fourth Industrial Revolution, Vietnam faces both opportunities and challenges. The risk of deviating from the principles of socialism has not been removed, hostile forces have not given up their plots to "transform" our country's economic guidelines and policies, taking full advantage of Vietnam's conclusion of new-generation free trade agreements to put pressure on us to accept political conditions with an attempt to spy into internal affairs of Vietnam and seek out economic secret information from the Government.

Strategic competition, economic conflicts between major countries, and the raise in trade protectionism bring countless challenges to the national economy and economic security, especially when Vietnam's economy is highly open and dependent on exports. Threats to national economic security such as greater dependence on foreign countries by implementing strategies and initiatives of partner countries in the Asia - Pacific region in general, and Southeast Asia in particular, economic backwardness; lack of strategic autonomy and vulnerability to external shocks, the decline in potential and slow growth...

Vietnam's economy is still exposed to unsustainable development factors and the risk of macro imbalance. The negative side of the market economy and economic integration continues to negatively affect domestic economic stability, especially global challenges, such as cybersecurity, financial crisis, energy crisis, food, transnational crime, high-tech crime, counterfeit money, commercial fraud, smuggling, economic fraud, tax evasion, transfer pricing... It is also challenging when implementing international economic integration commitments, especially new-generation FTAs; The world economic crisis leading to socio-political and economic crises in other countries has had negative impacts on Vietnam; It is more complicated to maintain national security when hostile forces profit economic integration to put pressure on politics and national defense. Moreover, strikes occur in economic zones, industrial parks, and foreign-invested enterprises; there exist also disputes and lawsuits related to land, and site clearance when implementing projects; Added to this are protests and disturbances due to environmental pollution caused by businesses, especially enterprises with foreign direct investment (FDI). All these reasons may enable hostile and reactionary forces to gather forces and practice a "color revolution".

Income inequality between regions, the gap between rich and poor, and social polarization deepen. Some burning social issues, such as employment, income are slowly resolved; corruption, bureaucracy, and social inequality have not been eliminated; Loopholes and weaknesses in the implementation of economic policies, especially in the restructuring of the economy, the equitization of state-owned enterprises, the use of land, forest and sea resources for socio-economic development increase the risk of loss for Government property, reduce national strength, hinder socio-economic growth, decline people's trust in the Party and State, threatens national rapid and sustainable development. Non-traditional security issues, especially climate change, and epidemics will continue to cause great and long-term damage, thus posing a threat to sustainable socio-economic development and the realization of poverty eradication goals. Crimes and financial illegal activities become more complicated, and many new cyber crimes have appeared in the digital economy, hindering the country's economic development.

 Maintaining economic security to meet the development requirements of the new era

To provide economic security in the context of a socialist-oriented market economy, international integration, and the Industrie 4.0 and closely follow the Party's guidelines, it is vital to uphold principles and perform the following key tasks:

Firstly, it is necessary to uphold the principle: Economic security is a very broad category, including the security of energy, finance, banking, telecommunications, food, and water sources..., and also traditional and non-traditional security. Maintaining economic security plays a pivotal role to safeguard national security, advocating guidelines and policies on the development of a socialist-oriented market economy, diversification and multilateralization of international economic relations, balancing global integration, economic autonomy, and self-reliance and the leading role of the state economy, economic growth, and national security and diplomacy.

Ensuring economic security is a regular task of the Party Committees, localities at all levels, and the whole people, of which the main responsibility is attributed to the Party committees, heads of ministries, branches, and provincial government committees of provinces and centrally run municipalities, businesses under the leadership of the Party and the Government. Public security forces play the advisory and core role. Economic security is a "prerequisite" condition in creating a favorable and secure environment for start-ups, rapid and sustainable development, macroeconomic stability, industrialization, modernization, and international integration of the country. Economic security is associated with internal political security, protecting cadres and party members, and preventing and combating corruption.

Secondly, it is required to clearly identify the requirements of economic security. Strengthening the Party's leadership in ensuring economic security in the context of the market economy, international integration, and the Fourth Industrial Revolution to develop a fast and sustainable economy, and maintain social security, national defense, and foreign affairs. Raising awareness among the Party committees, public agencies, businesses, local authorities, officials, and party members. Proactively detecting and fighting all conspiracies of hostile, reactionary forces and economic crimes. Improving the efficiency of economic security assurance of functional agencies, create favorable conditions for the smooth running of businesses.

Thirdly, due consideration should be given to balancing socioeconomic development, international integration, and economic security. Accordingly, in the process of implementing policies on socio-economic development and investment attraction, it is needed to pay attention to ensuring security and order and economic security must be an integral part of each policy and economic project. Importance should be attached to investment appraisal of international projects in strategic areas of national defense and security; Supervising the whole process of implementing projects in sensitive and key areas, and borders (from appraisal, and licensing to construction steps).

Fourthly, it is crucial to promote political and ideological education among cadres and party members, advocate the close combination of economy with national security and diplomacy in all economic activities, and build a pure, strong, solidary Party apparatus and staff of agencies and economic organizations. Improving the level of political, economic, legal, professional knowledge, material, and spiritual life of workers. Propagating, educating, mobilizing, and raising awareness about conspiracy and economic sabotage activities of hostile and reactionary forces. Taking strict control of press information and public opinion that harm the economy, especially key production and business industries. Protecting cadres and Party members, state secrets in the economic field. Special attention should be paid to policy-making agencies.

Finally, strengthening the fight against conspiracy and tricks of hostile forces who want to take advantage of the economy to damage or reduce the independence and self-reliance of the economy, transform politics, create dependence, and infringe upon national interests and security; Promptly detecting and handling financial crimes while enhancing the effectiveness of state management in economic security. Ensuring strict observance of law provisions on budget management, public investment, public property, public debt safety, national financial security, information security, cyber security, and security protection of state secrets in the economic sector. Strengthening supervision by elected bodies over the implementation of policies and laws on economic security. Continuing to perfect policies and laws, improving law enforcement capacity on economic security, especially issues related to the environment, land, and climate change response.


(1) Directive No. 05-CT/TW, dated October 14, 2006, of the Politburo on "Strengthening leadership in maintaining national security in the new situation", Directive No. 46-CT /TW, dated June 22, 2015, of the Politburo on "Strengthening the Party's leadership in ensuring security and order in the new situation", Directive No. 12-CT/TW, On January 5, 2017, of the Politburo on "Strengthening the Party's leadership in ensuring economic security in the context of the socialist-oriented market economy and economic integration". The Government issued Resolution No. 88/NQ-CP, dated September 13, 2017, Promulgating the Government's Action Program to implement Directive No. 12-CT/TW on "Strengthening the Party's leadership in economic security in the context of the socialist-oriented market economy and economic integration".

This article was published in the Communist Review No. 1002 (November 2022)