Vietnam is likely to fulfil all 13 socio-economic targets set for the whole year, backed by the economic performance in the first nine months of 2017, said Prime Minister Nguyen Xuan Phuc at the fourth session of the 14th National Assembly that opened in Hanoi on October 23.

Prime Minister Nguyen Xuan Phuc ​addresses the fourth session of the 14th National Assembly

Of the targets, five are expected to exceed the plan, including trade deficit, which is forecast to stand at only 1.5 percent compared to 3.5 percent as planned. Total development investment is likely to reach 33.42 percent of the GDP instead of 31.5 percent set earlier.

At the same time, exports growth is to hit 14.4 percent, doubling the set target of 6-7 percent. Total number of hospital beds will be raised to 25.7 beds per 10,000 people against the set goal of 25.5 beds, while health insurance coverage is hoped to reach 83 percent against 82.2 percent, said the PM.

The PM reported that average consumer price index rose 3.79 percent in the first nine months of this year and about 4 percent in the whole year, with basic inflation standing at about 1.6 percent. GDP growth in the first nine months reached 6.41 percent, and the figure for 2017 is about 6.7 percent. Meanwhile, poverty ratio as calculated by the multidimensional approach dropped 1-1.5 percent to about 6.7-7.2 percent.

He held that this is a great success of the country, especially in the context that Vietnam is transforming its growth model towards reducing the exploitation of natural resources and strengthening the processing industry, high technology agriculture as well as services and tourism.

The Government leader also sketched out specific goals for 2018, including GDP growth of 6.5-6.7 percent, with average consumer price index of about 4 percent.

Total export revenue is set to expand by 7-8 percent, while trade deficit is expected to stand at below 3 percent. In 2018, development investment of the whole society is hoped to be about 33-34 percent of the GDP.

Meanwhile, the PM also set targets of curbing the poverty rate by 1-1.3 percent averagely and 4 percent in poor districts, and keeping unemployment ratio in urban areas at below 4 percent.

In 2018, the percentage of trained labourers is expected to reach 58-60 percent of the total workforce. The ratio of social insurance card holders is expected to hit 85.2 percent of the population.

The country will also strive to have 88 percent of industrial parks and export processing zones having concentrated wastewater treatment systems, and forest coverage of 41.6 percent.

In order to complete the targets, the PM also outlined five major solutions, including strengthening macro-economy stability, ensuring balance of the economy, and speeding up business and production as well as economic growth.

The PM also pointed to the need to restructure the economy in a synchronized, comprehensive and practical manner, along with making active response to climate change and disasters, environmental protection and natural resources management.

He also highlighted the necessity of building an effective and disciplinary administrative system and drastically fighting against corruption.

VNA