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Vietnam Today

Socioeconomic targets set for 2020

Released at: 15:52, 22/10/2019

Socioeconomic targets set for 2020

Photo: VGP

PM addresses ongoing session of National Assembly on October 21.

by Phi Linh

Vietnam will reach all targets set for 2019 and continue to set socioeconomic targets for 2020, Prime Minister Nguyen Xuan Phuc told the ongoing session of the National Assembly on October 21.

GDP growth this year is expected to be 6.8 per cent, inflation will be kept below 3 per cent, and the budget surplus is to amount to 3.4 per cent of GDP.

For 2020, GDP growth is also set at 6.8 per cent, the average CPI is to be below 4 per cent, total export turnover growth is to come in at about 7 per cent, and the trade deficit compared to total export turnover is to be below 3 per cent. Total social development investment capital is to represent about 33-34 per cent of GDP.

The poverty rate will fall by 1-1.5 per cent, and in poor districts by 4 per cent. Unemployment in urban areas will be less than 4 per cent. The rate of trained workers will stand at about 65 per cent, of which the percentage of trained workers with diplomas and certificates is to reach around 25 per cent.

The number of hospital beds per 10,000 people (excluding beds at commune health facilities) will reach 28, and the percentage of the population with health insurance will stand at 90.7 per cent.

The rate of operational industrial parks and export processing zones with concentrated wastewater treatment systems meeting environmental standards is to be 90 per cent. The rate of forest coverage will be 42 per cent.

Tasks in the 2020 plan include promoting restructuring among industries and intra-industries based on comparative advantages and strengthening scientific and technological applications; focusing on developing key industries with potential, advantages, and high added value, and that are labor-intensive; and increase the proportion of processing and manufacturing industries.

Support industries need to be strongly developed, strengthening connections with foreign-invested enterprises and participating at a higher and deeper level in regional and global value chains. Large-scale agriculture will be promoted, as will high-tech applications associated with the construction of new rural areas, with about 58 per cent of communes to meet standards.

Land is to be used flexibly for rice cultivation and conversion to other agricultural production is to be more effective and with higher earnings; mechanisms and policies will be reviewed and perfected, improving the quality of planning to strongly promote key economic regions, regional links, and the role of major cities; the quality of human resources associated with innovation, development, and the application of modern science and technology is to be given focus; attention will be paid to training high-quality human resources to meet market demand; appropriate mechanisms will be adopted to attract and respect talent; the science and technology market will be strongly developed and the role of science and technology and innovation promoted, with an enterprise-centric approach; outstanding mechanisms and policies will be introduced so that science, technology, and innovation are truly the main drivers of growth, productivity, quality, efficiency, and competitiveness, in the spirit of Resolution No. 52 from the Politburo on actively participating in Industry 4.0; and the National Innovation Center and startup centers will soon be put into operation.

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