Vietnam targets economic growth rate of 7- 8 percent in 2011-2015
On a addressing the seminar, the Deputy Minister of Planning and Investment Cao Viet Sinh said that in the context of the current economic difficulties, it is difficult to define targets for socio-economic development for the next five years. Therefore, it is essential to carry out the two phases of the ten-year development strategy from 2011-2020 while pursuing the overall target of becoming a mid-level industrialised country by 2020.
The participants reviewed the achievements recorded in the period 2006-2010 during which, the country maintained an average economic growth rate of 6.9 percent.
Vietnam’s per capita income is predicted to reach USD1,200 in 2010, which would bring it out of the bloc of low-income countries. In addition, progress has been made in many different areas, including education and training, science and technology, social welfare, administrative reform and anti-corruption. However, there remain limitations, such as the slow pace of economic restructuring, the ineffective use of capital resources, poor quality human resources, ageing and obsolete technology and poor management of the environment.
The draft pointed out five lessons about how to cope with challenges when the economy seriously impacted by the global financial crisis.
The socio-economic plan for the 2011-2015 period is developed based on economic, social and environmental conditions. The main criteria for the period are an average GDP growth rate of 7-8 percent, an export growth of 12 percent, a State Budget accounting for 22-23 percent of GDP and an increase of 40-41 percent in investment inflows.
By 2015, the number of trained workers will reach 55 percent out of a total population of 93 million. The number of poor families will fall by 2 percent per year while the unemployment rate in urban areas will drop to 4 percent. Vietnam aims to increase its forest coverage to 42.5 percent, and the number of people in rural areas with access to safe water to 96 percent. Some people attending the seminar proposed that the five-year plan should be listed in the long-term development plan.
In the next 10 years, Vietnam needs to make a breakthrough in developing urban infrastructure, and enhancing human resources and administrative reforms. Accelerating administrative reforms will help to create a better business environment, iron out snags in business operations and combat corruption. Infrastructure development should focus on seaports and airports.
The seminar also discussed issued related to industrial and agricultural production, and exports, especially improving added value and high-technology. The Ministry of Planning and Investment said that the draft will continue to collect opinions and will be listed in the political report of the 11th National Party Congress in January 2011.
