Vietnam targets average growth rate of at least 6.5% in next five years

Xuan Thinh Wednesday | 07/28/2021 11:04

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Vietnam targeted average growth rate of 6.5-7 percent over the 2021-2025 period, according to a resolution on socio-economic development plan adopted by the National Assembly on Tuesday.

The GDP per capital in the period was targeted to reach $4,700- $5,000 by 2025.

The ratio of processing and manufacturing to GDP is expected to increase to more than 25 percent and the GDP share of digital economy would rise to 20 percent.

The rate of contribution of total factor productivity (TFP) to growth is expected to reach 45 percent.

The rates of urbanization and budget overspending to GDP would increase to 45 percent and 3.7 percent, respectively.

In order to realize the above objectives and goals, the plan figures out 12 major solutions, including focusing on realization of the dual goal of COVID-19 containment and economic recovery; refining institutions for development; accelerating the restructuring of the economy in combination with transforming growth model, improving productivity, quality, effectiveness and competitiveness, advancing digital economy and digital society; strengthening mobilization, allocation and utilization of resources, innovating mechanisms on allocation of investment resources among others.

Source: VGP