The Vietnamese National Assembly on November 11 approved the country’s socio-economic development resolution for 2015, including targets for GDP and CPI growth.
According to the resolution, Vietnam’s GDP growth should be 6.2% in 2015, while the target for CPI was set at 5%.
Despite numerous socio-economic challenges, including the negative impacts of tensions with China over the placement of its illegal oil rig in Vietnamese territory, the country is still on the way to fulfilling 13 out of 14 of its socio-economic targets for 2014.
Vietnam’s GDP growth in 2015 set at 6.2%
This is the first year that Vietnam is on its way to meeting the targeted GDP growth target of 5.8% set by the National Assembly. and the third consecutive year with a rise in trade surplus and forex reserves. Marco-economic conditions have also remained stable.
However, the economic restructuring plans have faced some difficulties and productivity and competitiveness remain weak. The bad debt also remains high along with the number of companies which had to stop operations.
In addition, the National Assembly set a target to focus for marco-economic stabilisation to ease difficulties for businesses.
Under the country’s’ socio-economic development resolution for 2015, trade value will grow around 10%; total investment capital for the entire social development will account for 30%-32% of the GDP, while the rate of households living under the poverty will fall by 1.7%-2%. And, if the targets are met, the rate of bad debts will be reduced to below 3% by the end of next year.
