The Government has set 15 main economic targets for 2023, focusing on maintaining macroeconomic stability, curbing inflation and boosting development. 

The targets are included in a socioeconomic development plan for 2023, delivered by Minister of Planning and Investment Nguyen Chi Dung at a meeting of the National Assembly (NA) Standing Committee on October 11, the local media reported.

In addition to GDP growth of 6.5%, the NA targets GDP per capita at US$4,400, a consumer price index rise at 4.5%, the average growth rate of social labor productivity hovering at 5% or 6% and the urban unemployment rate below 4%.

It also forecast the processing and manufacturing industry would account for over a fourth of the nation’s GDP.

This year, the economy has achieved positive results despite hardships caused by inflationary pressure and the Covid-19 pandemic. 

GDP growth is one of the 14 targets that Vietnam is on track to meet or exceed this year, reflecting a strong growth momentum for the subsequent years in the 2021-2025 period, the National Assembly Economic Committee reported.

“Vietnam is expected to achieve 14 of 15 socioeconomic targets this year. Of them, the 2022 GDP growth is estimated at 8%, surpassing the target of 6-6.5%,” Dung said.

Three main economic sectors regained strong growth momentum, while the processing and manufacturing industry continues to drive economic growth, with production volume increasing 10.69% over the same period last year.

“However, Vietnam’s economy is forecast to face uncertainties and challenges in 2023,” Dung said.

Source: Saigon Times