The National Assembly (NA) on November 8 approved a Resolution on socio-economic development plan in the 2011-2015 period.
The Resolution was voted for by 446 delegates, accounting for 89.2% of the total deputies.
The goal for the next five years is to develop the economy in a fast and sustainable manner regarding a growth model and economic structuring towards improving the quality and competitiveness of the economy.
Other goals include ensuring social welfare and enhancing people’s material and spiritual life, increasing external activities and international integration, firmly defending independence, sovereignty, unity, territorial integrity, political security and social order for the country to become an industrialized country by 2020.
The plan also sets forth economic targets including a GDP growth rate of around 6.5-7%, social investment accounting for 33.5-35% of the total GDP, trade deficit making up below 10% of export turnover and budget overspending (including the Government bonds) of less than 4.5% by 2015.
The proportion of hi-tech products is expected to make up 30% of the total industrial production value, the rate of industrial technology renewal will be 13% a year, and labor productivity will rise by 29%-32% in 2015 compared to 2010.
By 2005, public debt will be less than 65% of the total GDP, Government debt, less than 50% of the total GDP and consumer price index (CPI), 5-7%.
In terms of social targets, eight million jobs will be created in 2011-2015. Poverty reduction will be carried out rapidly and sustainably, targeting to achieve a reduction of 2% a year on average nationwide and a reduction of 4% a year in poor areas.
To achieve these targets, the Resolution proposed nine solutions, mentioning the necessity to effectively overcome obstacles and shortcomings caused by poor management at all levels.
The NA asked the Government to work out a project to restructure the economy in combination with transforming the growth model for further improving the quality, efficiency and competitiveness of the national economy, noting that the work must be carried out synchronously at all levels and localities in the country with a long-term vision and a specific roadmap./.