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Saturday, July 31, 2021

Lawmakers set 2021 GDP growth target at 6%, CPI at 4%

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HCMC – The National Assembly (NA) on November 11 passed a resolution on the socioeconomic development plan for next year and approved a gross domestic product (GDP) growth target of 6% and a consumer price index (CPI) of 4%.

Accordingly, the GDP per capita is expected to hit some US$3,700, the local media reported.

In addition, labor productivity growth was targeted at 4.8% and the proportion of trained laborers and laborers holding certificates was expected at 66% and 25.5%, respectively.

The lawmaking body also set the health insurance coverage target at 91% and the proportion of urban residents receiving clean water at 90%. Moreover, more than 87% of solid waste will be collected and treated.

To achieve these targets, the NA asked the Government to conduct synchronously and effectively approved plans and keep a close watch on domestic and foreign markets to prepare efficient and prompt response solutions.

Moreover, the Government must continue adopting effective solutions to prevent Covid-19 and reduce losses caused by the pandemic as well as other diseases. The research and international cooperation over the Covid-19 vaccine production should be promoted and the Government should work out solutions to help local resident access the Covid-19 vaccine at the earliest.

The NA also assigned the Government to allocate resources and adopt solutions to remove the difficulties facing enterprises and residents that have been heavily hit by the pandemic, especially those in the industry, service, tourism and aviation sectors.

The socialist-oriented market economy mechanisms should be improved. Additionally, the Government should seek ways to recover and boost the fast and sustainable development of the socio economy and control inflation.

It is necessary to enhance export, develop the local market and make use of free trade agreements, while improving the country’s competitiveness and increasing the effectiveness of public investment use.

The NA also asked for the acceleration of bad debt settlement and poor-performing credit institution restructuring. The Government was told to apply science and technology, foster the non-State resource attraction, speed up the equitization and seriously comply with regulations on State capital and asset use and management.

Policies and regulations on the effective and sustainable management, exploitation and use of natural resources and those on the prevention and control of natural resources must be improved.

The NA stressed the need to increase the effectiveness of the State management and the quality of State employees. Administrative procedures should be reformed in a more practical manner and the one-door policy should be applied to administrative procedures in association with the technological application.

Ministries and agencies should continue cutting unreasonable business conditions, enhancing specialized inspections and reducing costs for residents and enterprises.

In addition, national defense, security and social order should be maintained, while international integration and diplomatic ties with other countries and organizations must be strengthened.

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