VietNamNet Bridge – The Prime Minister has signed a decision giving assignments to eight ministries to help realize this year’s socio-economic targets.

Illustrative image -- File photo

The development targets, as discussed at the Government’s web conference late last month, are higher than what the nation achieved in 2015.

Under Decision 2313/QD-TTg, the Ministry of Industry and Trade is told to find ways to achieve export growth of 10%.

Last year, the same export target could not be attained as outbound sales grew a mere 8.1% at US$162.4 billion. The General Statistics Office said the 2015 export growth was the lowest in five years.

Twenty-three groups of items posted export revenue of over US$1 billion last year, with the processing industry playing a crucial role in driving export growth. Foreign-invested enterprises, particularly those in the electronics sector, continued making a major contribution to the export sector.

According to the Ministry of Industry and Trade, world markets became more volatile last year as the global economic malaise remained and dampened world demand had yet to recover.

Shipments of Vietnam’s major export earners like farm produce, crude oil, seafood and coal sharply declined in both price and volume. To achieve 10% export growth, the country must try to boost this year’s shipments to US$178 billion.

The Ministry of Planning and Investment is assigned to take measures to ensure gross domestic product (GDP) could grow 6.7%, keep the consumer price index (CPI) below 5%, and guarantee development investments would account for 31% of GDP.

The job of increasing national forest coverage to 41% is given to the Ministry of Agriculture and Rural Development. Meanwhile, the Ministry of Health will have to ensure that there will be 24.5 hospital beds for every 10,000 people and 76% of the population will be covered by health insurance.

The Ministry of Labor, Invalids and Social Affairs is tasked with lowering the poverty rate by 1.3-1.5% and the unemployment rate in urban areas to below 4%, and providing training for 53% of the labor force.

The Ministry of Planning and Investment will have to work to attain national reserve targets and accomplish the major socio-economic targets approved by the National Assembly and the Prime Minister.

Relevant agencies are required to submit their performance reports to the Ministry of Planning and Investment on a quarterly basis.

SGT