Pathway to decade of prosperity

November 28, 2010 | 19:52
(0) user say
Vietnam’s future socio-economic development pathway is taking shape thanks to substantial outputs resulting from the 12th National Assembly’s eighth session which rounded off last week.


The National Assembly’s Chairman Nguyen Phu Trong said that the  outcomes of the 26-day long session, taking place amid Vietnam’s preparations for its Socio-Economic Development Plan 2011-2015 and Socio-Economic Development Strategy 2011-2020 and the world’s strongly recovering economy, would add momentum to the nation’s growth.

The National Assembly agreed with the government’s vision that Vietnam’s tasks in 2011 would exclusively continue stabilising the country’s macroeconomy, bridling inflation, renewing the economic growth model and keeping firm economic growth at 7-7.5 per cent against 2010.

In 2011, the country’s per capita gross domestic product (GDP) growth will be $1,300, while total export turnover will grow by 10 per cent against 2010 and 1.6 million new workers will be employed. The inflation rate will be bridled at less than 7 per cent, while the trade deficit will not exceed 18 per cent of total export turnover and the total development capital will occupy 40 per cent of GDP.

“Vietnam has reaped relatively comprehensive achievements. It has successfully curbed the economic downturn, achieved good economic growth and looked after the macreconomic stability and social welfare. These achievements have greatly contributed to the country’s accomplishment of its Socio-Economic Development Plan 2006-2010, laying a firm foundation for the country to further develop in the next periods,” said Prime Minister Nguyen Tan Dung.

Particularly, the session adopted nine laws including Environment Protection Tax, Inspection (revised), Administrative Procedures, Civil Servants, Consumer Rights Protection, Minerals (revised), Insurance Business (revised), Securities (revised) and the revised Election of National Assembly Deputies and People’s Council Members, and one resolution on agricultural land use tax.

Policy-makers also discussed another nine laws, which were expected to help the complete the country’s legal regulations given its deeper integration into the global economy.

Vietnam has been the first country in Asia to approve the Environmental Protection Tax Law, which imposed taxes on products made from fossil fuels and coal, and environmental toxic products like pesticides and chemicals.

This law is expected to help Vietnam build its low-carbon economy in general and achieve its target of reducing 7.5 per cent of carbon dioxide every year in particular, according to Germany’s embassy in Vietnam.

Meanwhile, “the revised Mineral Law is an important legal framework for the government to effectively manage Vietnam’s mineral resources. Its new regulations will put screws on mineral exploration and exploitation nationwide,” said Minister of Natural Resources and Environment Pham Khoi Nguyen.

Also at this session, the National Assembly gave comments on the draft documents which will be submitted to the 11th Vietnam Communist Party Congress slated to take place in early 2011.

“The government’s tasks in 2011 will be quite heavy. We will build necessary action programmes to meet the country’s demand for economic restructuring and growth model renewal in order to ameliorate the economy’s competitiveness,” Dung said.

By Thanh Dat

vir.com.vn

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional