Vietnam economic is set to grow between 7%-7.5% each year in the 2011, the state-run online newspaper Chinhphu reported on October 15, citing the 13th Plenum of the Communist Party of Vietnam’s Central Committee held on October 14 in Hanoi
Assessing socio-economic development in 2010, the Plenum concluded that the national economy is recovering quickly and many industries are regaining their own impetus.
However, there remain many weaknesses which should be settled, namely slow economic restructuring, low industrial production value, weak auxiliary industries, and poor performance of some economic groups.
The Party Central Committee also thoroughly discussed viewpoints of socio-economic development in the next year.
Major indicators for 2011:
· GDP growth rate: 7%-7.5%
· Per capita GDP: $1,300
· Total export turnover: up 10%
· Excess of imports over exports: below 20% of the export turnover
· Total investment capital: 40% of GDP
· CPI increase: 7%
· Poverty rate: 2%
· State budget overspending: 5.5% of GDP
The Plenum mapped out overall targets, major norms, orientations for the development of different economic industries, and six packages of solutions for 2011: (1) Creating a fair business environment and improving competitiveness of enterprises; (2) Applying financial and monetary policies to security of macro-economic stability; (3) Continuing economic restructuring towards higher efficiency and competitiveness; (4) Promoting production and export while narrowing trade gap; (5) Enforcing policies on job generation, poverty reduction, and social well-being; and (6) Bettering the performance of the State management apparatus.
