Vietnam’s goals for 2013 are to strengthen its macroeconomic stability, cut level of bad debt, reduce inflation, and strive for GDP growth of 5.5 percent and a 10 percent increase in export turnover.

The Ministry of Planning and Investment (MPI) set these targets at a press conference in Hanoi on January 4, during which it also introduced socio-economic solutions to help fulfil its 2013 targets.

According to Minister of Planning and Investment Bui Quang Vinh, Vietnam’s inflation rate of 6.81 percent and GDP growth of 5.01 percent in 2012 will help the country obtain even higher GDP growth this year.

To solve bad debt and remove business obstacles, the ministry will submit to the Government and National Assembly a three-year plan (2013 to 2015) to allocate State budget to localities, ministries and sectors.

The Government and the MPI have directed localities, ministries and sectors to prioritise the settlement of bad debts in capital construction field in 2012 and provide capital for projects that will complete in 2013.

The ministry will also focus on providing market support, resolve inventories, create favourable conditions for production, and restructure the economy to ensure social welfare and improve the lives of people.-VNA