VietNamNet – Vietnam's national reserves will reach about 0.8-1 percent of GDP by 2015 and about 1.5 percent by 2020. This is part of national reserve development strategy which has been approved by Prime Minister Nguyen Tan Dung under Decision 2091/QD-TTg.

Carrying rice to the store for reserve. (Photo: SGGP)

The overall goal of the strategy is to meet urgent demand on preventing and overcoming consequences from natural disasters and epidemics, ensure food and energy security, ensure national defence and social order and safety, participate in market stabilisation; contributing to stabilising macro-economy, socio-economic development, ensuring social welfare and other urgent tasks.

For commodity items for national reserves by 2020, the strategy defined five commodity groups for ensuring economic security and social welfare; coping with natural disaster and rescue work, national security and defence; protecting border, sea and island territory and encouraging industry; preventing epidemics and giving first aid; and preventing epidemics among domestic animals and crops.

Specifically, the food reserve level by 2015 will be kept stable at 500,000 tonnes, to be increased depending on the real situation.

Petrol and oil reserves by 2020 will meet ten-day use demand (about 500,000 cubic meters of products and 700,000 tonnes of crude oil).

For plant crops of all kinds, paddy seed reserves will reach 10,000 tonnes per year, corn seed will post 1,500 tonnes per year and vegetable seed will be 130 tonnes per year.

Source: CPV