RSS   Newsletter   Contact   Advertise with us

Vietnam targets 6.7% in economic growth for 2017

Staff Writer | November 9, 2016
Vietnam's National Assembly (NA) has adopted a resolution on the socio-economic development plan for 2017, targeting a gross domestic product (GDP) growth rate of about 6.7 percent.
Vietnam's National Assembly
Asia   85 percent of NA deputies approved the resolution
Some 85 percent of NA deputies approved the resolution at the ongoing second session of the country's 14th NA held in Vietnam's capital Hanoi, reported local Vietnam News.

The plan also targets a rise of 6 to 7 percent in export-import revenue, and trade deficit accounting for some 3.5 percent of the total trade turnover in 2017.

The consumer price index is expected to increase at around 4 percent, while total social development investment is expected to reach 31.5 percent of GDP.

Vietnam is set to have its household poverty rate decline by 1-1.5 percent and health insurance cover 82.2 percent of the population next year.

The plan continues to target a stable macro-economy, economic restructuring associated with growth model reform, and better competitiveness.

It also looks to encourage sustainable start-ups, ensure social welfare, proactively respond to climate change, increase environmental protection, and step up administrative reforms.

In late 2015, the NA targeted Vietnam's GDP expansion of 2016 to be 6.7 percent.

However, in October, the government has lowered it to 6.3-6.5 percent. Meanwhile, the World Bank and the Asian Development Bank maintained their forecast that Vietnam's economic growth will be around 6 percent this year.