Viet Nam Predicts Whole-Year Economic Growth amid Concerns

Rice export is still a strong point of Viet Nam economy

Vietnam's GDP growth for 2006 is estimated at 8.1-8.2%, higher than the target of 8.0%.

The National Assembly's Committee for Economic and Budgetary Affairs heard the economic progress reports at a meeting on Sunday to review the government assessments of 2006 socio-economic targets, as well as plans for 2007.

The country’s GDP per capita may reach USD 722-724. Notably, export turnover in the first nine months of this year rose 18.7 percent from a year earlier. This was higher than the target of 16.4 percent.

The non-state sector and foreign-invested sector have actively taken part in the national economy; total investment capital reached VND390.5 trillion.

The Ministry of Planning and Investment (MPI) said Viet Nam is seeing good results of reformed economic policies and newly-issued laws which have created a stable environment for investors.

Furthermore, the government has kept close watch on the progress of national key projects as well as the management of capital.

Concerns remain

MPI officials also expressed concern about unstable economic development and unsolved social issues.

They said Viet Nam’s economic growth is still under potential and competitiveness is low.

Besides, the state budgetary balance is still dependant on foreign sources; the banking system has high risks and the management, exploitation and usage of economic and natural resources are still limited.

Notably, some urgent issues such as side clearance, price hikes and development aids for difficult areas are still unsolved. Thus, the public has been discontentedly aroused.

By Van Minh Hoa – Translated by Thuy Hang

Other news