The Hanoitimes – The 2020 socio-economic plan stressed the importance of restructuring the economy by revising the growth model, and accelerating the implementation of major projects that serve as driving forces for growth. The National Assembly on November 11 approved Vietnam's socio-economic development plan for 2020, including the GDP growth target of 6.8%. Data:Government. Chart: Nguyen Tung. The plan received endorsement from 426 out of 430 of National Assembly deputies present, representing an approval ratio of 88.2%. In addition to the GDP growth target, the 2020 socio-economic development plan includes other key economic indicators, such as the consumer price index (CPI) to stay below 4%; export growth of 7%; ratio of trade deficit to total export value below 3%; total social investment capital at 33 – 34% of GDP; a decline by 1 – 1.5% in the poverty rate; unemployment rate in urban areas below 4%, among others. The overall objective of the socio-economic plan next year is to focus on stabilizing macro-economic conditions; controlling inflation rate; enhancing productivity and national competitiveness. Moreover, the government is set to continue improving the legal framework to attract more capital for development, and create a transparent, fair and efficient business environment. The plan… Read full this story
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