>> Expert predicts CPI to rise 11% this year
>> NA sets high target for 2011 GDP growth
Vietnam’s GDP growth this year is estimated at 6.78%, exceeding the National Assembly’s set target of 6.5% and the 5.32% seen last year.
 |
| Prime Minister Nguyen Tan Dung |
According to the government’s socio-economic report released at a meeting on December 29, GDP saw its highest increase in the fourth quarter reaching 7.34%. The first quarter GDP grew 5.84% followed by 6.44% in the second quarter and 7.18% in the third quarter. The GDP growth in the fourth quarter has been the highest level since February 2008.
This year, many economic sectors posted higher growth than last year. Among those, industry and construction recorded a growth of 7.7%, followed by services with 7.52% and agro-forestry-fisheries with 2.78%.
The Vietnamese government has set a goal to achieve a GDP growth of 7.5% next year.
Export revenues up 25.5%, FDI disbursement up 10% on-year
Vietnam’s total export revenues are estimated at over USD71.6 billion this year, up 25.5% against 2009 and up 19.33% from the National Assembly’s set target of USD60 billion.
The national trade deficit was reported to be USD12.4 billion, accounting for 17.3% of the total export revenues and 20% short of the year plan.
In 2010, Vietnam attracted a total pledged foreign direct investment (FDI) of USD18.6 billion, down 17.8% from 2009. However, FDI disbursement hit USD11 billion, up 10% from a year earlier.
Among 51 countries and territories investing in Vietnam this year, Singapore topped with USD4.35 billion, followed by the Netherlands with USD2.36 billion and Japan with USD2.04 billion.
Industrial production value reached VND794.2 trillion (USD39.71 billion), up 14% against 2009 and exceeded the set goal of 12%. The foreign-invested sector posted the highest growth of 17.2%, while the state-owned sector saw the lowest growth of just 7.4%.
Marco-economic stability remains priority
Despite achieving many encouraging results, the Vietnamese economy still faces challenges, including high consumer price index (CPI) which grew 11.75% this year, affecting the daily lives of citizens.
Speaking at the meeting, Prime Minister Nguyen Tan Dung said the main task of 2011 will be to continue focusing on maco-economic stability and inflation control, firstly stabilising prices in front of and behind the Lunar New Year.
The PM also asked ministries and agencies to build management policies, particularly in the four areas of land, minerals, management over state-owned enterprises and construction.
