Nation aims to reach 6-6.5 percent growth rate

Vietnam is set to achieve a GDP growth of between 6-6.5 percent and a 13 percent increase in export turnover in 2012.

This is part of the Socio-economic Development Plan for 2012, which received 90.4 percent of the votes in favour of deputies to the National Assembly on November 9.

The country expects to keep the imbalance between imports and exports at between 11-12 percent, over-spending under 4.8 percent of GDP, and the CPI below 10 percent.

The country also hopes to create 1.6 million new jobs and keep the unemployment rate in urban areas capped at 4 percent.

At the meeting, deputies agreed that Government bond capital in five years from 2011-2015 should not be higher than VND225,000 billion (US$11 billion).

The National Assembly assigned the Government to develop principles and criteria for projects receiving investment from the State budget in the five-year period.

The overall objectives of the plan are to curb inflation, stabilise the macroeconomy and maintain the growth rate at a reasonable level; ensure social welfare and security, while improving the people’s living conditions; maintain political stability, consolidate national defence, ensure national security, social order and safety, while integrating deeper into the world and improving the effectiveness of diplomatic activities.

With 82 percent of votes in favour, the National Assembly approved a Resolution on the National Target Programme (NTP) for the five-year period of 2011-2015 with a total implementation budget of VND276,372 billion (US$13.5 billion).

The 16 NTPs include those in employment and vocational training, sustainable poverty reduction, rural water supply and sanitation, population and family planning, food safety, culture, education and training, energy conservation and efficiency, climate change adaptation.

Funding will come from the Central Government, local administrations and different stakeholders, including foreign capital and credit resources.

VNA/VOV

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011