Vietnam targets annual GDP growth of 7 percent over next five years

Lam Nguyen Wednesday | 04/15/2020 15:50

Vietnam targets annual GDP growth of 7 percent over next five years. Photo: Nhan Dan

In his direction of socioeconomic development during the 2021-2025 period, Vietnamese Prime Minister has planned to target annual gross domestic product growth of 7 percent.

Prime Minister Nguyen Xuan Phuc ordered to have plan for socioeconomic development for the period 2021-2025in the context of strategic competitiveness, wars of commerce, conflicts of natural resources, market, technology and high-skilled workers between countries plus the Covid-19 pandemic.

The PM said that the country’s economy grew at its slowest pace during the 2021-2025 period because of its own difficulties such as ageing population, rich-poor gap, natural disasters, climate changes, rising seawater, saltwater intrusion; therefore, state competent agencies need to determine basic problems for the socioeconomic growth in the period 2021-2025.

► IMF projects Vietnam’s 2020 economic growth slowing to 2.7% on coronavirus

► Vietnam’s 2020 economic growth could slow to 5.05% on pandemic

Source: SGGP