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Issue #1481      17 November 2010

Vietnam sets high target for 2011 GDP growth

Vietnam’s National Assembly deputies on November 8 adopted a resolution on the country’s socio-economic development plan for 2011, agreeing with a GDP growth rate of 7-7.5 percent set by the government.

The deputies agreed that the 2011 socio-economic plan will focus on increasing macro-economic stability and controlling inflation, in combination with renewing the growth model and shifting the national economic structure.

In the socio-economic development plan for 2011, the consumer price index is set to grow below 7 percent, the total investment for development will be equivalent to 40 percent of GDP, export value is expected to rise 10 percent over 2010 and the trade deficit is to account for 18 percent of exports.

Social goals will include generating jobs for 1.6 million people, of whom 87,000 will be sent to work abroad; and reducing the birth rate by 0.2 per thousand and the number of poor households by 2 percent in line with new poverty standards.

In the plan, the government will ensure at least 86 percent of the rural population gain access to hygienic water and 78 percent of the urban population use clean water.

It plans to deal with 69 percent of establishments which cause serious environmental pollution and increase the number of industrial and export processing zones having standard waste water treatment systems to 55 percent.

Since 2011 is the first year of the 2011-2015 socio-economic development plan, the National Assembly has asked the government, ministries, sectors and branches to concentrate on instructing and implementing measures to improve macro-stability to ensure a balanced national economy and to promote economic development.

The National Assembly required these agencies to take measures to restructure the national economy, including adjusting investment structures, and promptly implementing policies to ensure social welfare and security.

These agencies are asked to continue with administrative reform, preventing and combating corruption and wastefulness, enhancing the training of high-quality human resources, strengthening defence potential and security, expanding external relations and proactively integrating into the international arena.  

Next article – Merchants of Death – Commercial seed markets

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