2006 GDP grows 8.2%, 2007 to reach 8.5%: MPI

Textile industry, one the Viet Nam's strong points in exports. (Photo:TK)

Viet Nam’s GDP growth rate in 2006 reached 8.2%, a rate higher than the targeted 8% for this year, and also higher than the projected 7.5 - 8% for the 2006-2010 period.

The figures were released by Minister of Planning and Investment Vo Hong Phuc at the Government’s regular meeting held in Hanoi yesterday.

He said the year 2006 saw big achievements: the total production value increased by 17% in the industrial sector, the total exports fetch US$39.6 billion, representing a growth rate in many export items, and the total registered foreign direct investment sets a new record of US$ 10.2 billion.

However, according to Mr. Phuc, the GDP growth rate this year was lower than the previous year’s rate of 8.43%.

8.5% GDP growth rate is targeted for 2007

The National Assembly recently approved the set target that Viet Nam is to see the national economy grow by 8.3-8.5% in 2007 with the GDP reaching US$70 billion and average income per capital gaining U$820.

Mr Phuc believes that the figures are within reach, especially when the export growth rate was very good in 2006, at 22%, and can be maintained in 2007.

He said the WTO membership means a larger market for Vietnamese exporters and bigger opportunities for enterprises to boost sales abroad. Besides, Mr. Phuc added that the total investment capital will likely to be kept at 40% of GDP as in 2006.

By K.Q – Translated by Trong Khuong

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