Vietnam’s parliament targets 6.5-6.7% growth for 2018

Friday, 2017-11-10 09:56:35
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NDO - The National Assembly of Vietnam has adopted the socio-economic development plan for 2018 which targets growth at between 6.5% and 6.7% while also seeking to maintain macro-stability and keep inflation in check at 4%.

The parliament also aims to increase export value by 7-8%, keep the trade deficit at 3% of exports and reduce the poverty rate by 1-1.3%.

The plan, passed on the morning of November 11, called for continued efforts to renew the growth model, enhance labour productivity, promote innovations and start-ups and respond to climate change effectively.

The plan also aims to fine-tune the legal system and strengthen law enforcement as well as stepping up administrative reform and the fight against corruption.

Measures that will be implemented to realise economic targets include supporting start-up businesses and SMEs, removing obstacles to land consolidation, restructuring industrial production with a focus on the manufacturing of consumer and electronic goods, spare parts, building materials and so on.

At the same time, action will be taken to promote the use of locally made products, step up the crackdown on smuggling and increase natural resources management, among others.