Wednesday, October 5, 2022

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Solutions for socio-economic development in 2011

The GDP is expected to increase at 7-7.5% in 2011

The solutions are as follows:

Firstly, economic stability and macro balances must be consolidated through controlling inflation and trade deficit, stabilizing the market, improving payment balance, securing the finance-banking system, enhancing financial disciplines, reducing State budget overspending, and maintaining public debt within safe threshold.

Secondly, to speed up economic structure transformation in combination with growth model renovation and improvement of economic efficiency, productivity, and competitiveness.

Specific solutions include infrastructure development, extensive mobilization of resources for development, adequate electricity supply, improvement of business capacity.

Thirdly, the Government will continue elevating human resource quality and speeding up scientific and technological application.

Fourthly, social welfare policies will be carried out in combination with sustainable poverty reduction programs, while enhancing health care quality.

Fifthly, more efforts will be given to prevention and control of natural disasters, climate change, and to strengthening environment protection.

Sixthly, the Government will continue perfecting the legal system, beefing up administrative reform, edging State management capacity, and fighting corruption.

Seventhly, national security and defense, social order and efficiency of diplomatic work will be consolidated and enhanced.

PM Nguyễn Tấn Dũng ordered ministers, heads of ministerial-level agencies and Chairmen of People’s Committees of provinces and centrally-governed cities to quickly draft and issue their own action plans within this month (January, 2011).

They were also asked to direct competent agencies to develop strategies, plans, and programs on the basis of the Strategy for socio-economic development for 2011-2015 period which will be put forth by the 11th National Party Congress.

Earlier, the National Assembly approved the socio-economic development plan for 2011, focusing on the maintaining of macro-economic stability, inflation curbing, growth model renovation, and economic structure transformation.

Under the plan, the GDP is expected to grow at 7-7.5% against 2010, consumer price index (CPI) to increase less than 7%, total export turnover to rise 10%, trade deficit to be kept under 18% of the total export value; State budget overspending to be maintained at 5.35% of the GDP, and total social investment is equivalent to 40% of the GDP.
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