Vietnam targets 5.8 percent GDP growth for 2014

Vietnam will strive for GDP growth of 5.8 percent in 2014. The goal was set during a December 23 online conference between the Government and localities.
Vietnam will strive for gross domestic product (GDP) growth of 5.8 percent in 2014.

The goal was set during a December 23 online conference between theGovernment and localities to discuss the Government’s draft resolutionon key tasks and the roadmap to realise the 2014 socio-economic planapproved by the National Assembly, and outline budget estimates for theyear.

The resolution also targets a 10 percent risein exports with a trade deficit of 6 percent of the export revenue and aconsumer price index of 7 percent.

In 2014, theGovernment will spend about 30 percent of the total GDP on socialdevelopment, reducing the ratio of poor households by 1.7 - 2 percentand 4 percent in poor districts, and generating about 1.6 million jobs.

To reach the goal, the Government asked localitiesnationwide to focus on major solutions including continuing to stabilisethe macro-economy and control inflation, removing difficulties forbusinesses and promoting production.

It is necessaryto take important steps in line with economic reform, renovating thegrowth model and improving the efficiency and competitiveness of theeconomy, while ensuring social security and welfare, and improvingpeople’s living conditions.

The Government requestedthe localities to use resources in a suitable and effective way,protecting the environment and actively responding to climate change.

The localities were also asked to speed up corruptionprevention and fight, practice thrift and avoid wastefulness, better thesettlement of complaints, while ensuring national defence, socialsecurity and safety.

In addition, it is crucial toexpand and improve external relations activities and stay active ininternational integration, and intensify awareness work to strengthensocial consensus, the resolution said.

Thelocalities were also asked to report the implementation of theresolution, commencing from January 2014, every month and quarter.

Addressing the two-day conference, Prime Minister Nguyen Tan Dungurged leaders of localities and sectors to review the socio-economicsituation in 2013 and define the reasons behind shortcomings andlimitations, while giving proposals to better the situation.

Evaluating the implementation of Government Resolution No. 1 on keymeasures to realise the 2013 socio-economic plan and Resolution No. 2 onmeasures to remove difficulties for businesses, support the market anddeal with bad debts, Minister of Planning and Investment Bui Quang Vinhsaid positive changes have been seen in the country’s socio-economicsituation.

The results are demonstrated by thesuccessful control of inflation, macro-economic stability and economicrecovery. Big steps have been taken in removing business difficultiesand handling bad debts, he said, adding that social security and welfarehave been ensured.

A report on Governmentmanagement in 2013 also pointed out that with the efforts of the wholepolitical system, the country’s socio-economic situation is on the righttrack, while general targets have basically been reached.-VNA

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