Vietnam sees GDP growing 8.2 percent this year, targets 8.5 percent in 2007
HANOI - Vietnam's gross domestic product is expected to expand by 8.2 percent this year and the government is targeting an 8.5 percent growth rate for its economy in 2007, state media reported Thursday.
"Our economy is expected to grow at nearly 8.2 percent in 2006 despite numerous difficulties and challenges which have had a bad impact on the economy's growth such as diseases, natural disasters and soaring prices on international and domestic markets," the Tuoi Tre (Youth) newspaper quoted a government report as saying.
Last year, the country's GDP expanded 8.4 percent, the second fastest growth rate in Asia behind China.
Vietnam's export volume is expected to reach a record of nearly US$40 billion while the country is also expected to attract record pledges of more than US$10 billion in foreign direct investment this year, the report said.
Foreign investments and exports are expected to get a further boost after Vietnam joins the World Trade Organization next month.
Speaking at a government meeting Wednesday, Prime Minister Nguyen Tan Dung said more efforts must be made to achieve the targeted GDP growth rate of 8.5 percent next year, the newspaper said.
"In 2007 and following years, focus must be made to overcome the problems of unsustainable growth, unstable competitiveness, shortage of human resources ... and the poor infrastructure," Dung was quoted by the newspaper as saying.
Vietnam lost nearly US$1.17 billion in natural disasters in 2006, according to the General Statistical Office.
Natural disasters including typhoons and flooding killed at least 500 people and injured nearly 3,000 others this year, it said.
The country was also facing foot and mouth disease, which killed thousands of animals and the reemergence of bird flu outbreaks among poultry earlier this month in the two southern Mekong Delta provinces in the first reported outbreak in the country in a year.
Last year, manufacturing accounted for 41 percent of the economy, services 38 percent and agriculture 21 percent. In recent years the manufacturing and services sectors have increased their contribution to Vietnam's economy as the contribution of agriculture to the economy has decreased.
The Associated Press - December 28, 2006.
|