VietNamNet Bridge – On April 12, with a majority of votes, the National Assembly formally adopted the resolution on the plan of socio-economic development of Vietnam for the period from 2016 to 2020.

Accordingly, the top overall objective of Vietnam in the next five years is to ensure macroeconomic stability, striving for higher economic growth rate than then previous 5-year period.

This is the list of 9 economic indicators recently passed by the National Assembly:

- Average general domestic product (GDP) from 6.5% to 7%/year

- GDP per capita in 2020 of about $3,200 - $3,500

- The proportion of industry and services in GDP in 2020 of about 85%

- The total social investment capital in 5 years of about 32-34% of GDP

- State budget deficit below 4% of GDP in 2020

- Total factor productivity (TFP) contribution to growth of about 30-35%

- Labor productivity increases about 5%/year on average

- Energy consumption/GDP falls by 1 to 1.5%/year

- The rate of urbanization by 2020 at 38%-40%

Regarding social indicators, the Resolution aims to reduce the proportion of agricultural labor in the total labor force in 2020 to about 40%; the percentage of trained workers in 2020 to about 65-70%; the unemployment rate in urban areas below 4% in 2020.

By 2020, Vietnam would have 9-10 doctors and 26.5 hospital beds or morefor each 10,000 people; over 80% of the population would have health insurance in 2020; and the poverty rate would be reduced by about 1% to 1.5%/year.

The Resolution of the National Assembly also sets environmental indicators such as 95% of the population in the urban area and 90% of rural population would have safe water by 2020. The proportion of hazardous waste treated in 2020 will be 85%. The rate of medical waste to be treated in 2020 will be 95-100%. The forest coverage rate will reach 42% in 2020.

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