City targets GDP growth at 12% in 2011 By Anh Quan - The Saigon Times Daily HCMC – The HCMC People’s Council at the seventh session last week set up next year’s socioeconomic development plan in order to achieve GDP growth of 12% and a rise in annual per capita income to US$3,130. Addressing the closing meeting, HCMC chairman Le Hoang Quan said the city’s economy had recovered and expanded by 11.5% in 2010, or 1.7 times higher than the national figure. However, low industrial production value, poor investment results, traffic jams and road surface subsidence were areas that needed more work. Quan said there would still be difficulties next year in the fallout from the global economic recession. The People’s Council deputies during the session also passed six economic, eight environmental and eight social targets. They suggested that the rate of urban families supplied with clean water would increase by 1% to 86% next year. In 2011, the city would continue … [Read more...] about City targets GDP growth at 12% in 2011
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Outlook for Vietnam’s GDP growth gloomy
VietNamNet Bridge – Assoc Prof and PhD Nguyen Hoang Anh, vice director of the Institute for International Economics and Trade under the Ha Noi Foreign Trade University, speaks to Hai Quan (Customs) newspaper about the Government’s decisions to revise GDP growth targets. In Cabinet meeting last week, Prime Minister Nguyen Xuan Phuc lowered the Gross Domestic Products (GDP) growth target from 6.7 per cent, put forward at the beginning of the year, to 6.3 to 6.5 per cent. What has affected the initial growth target? Viet Nam has witnessed a lot of troubles in 2016, after a relatively successful 2015. This year has been marked with many environmental crises, with the Formosa incident in four central provinces being the worst. To make matter worse, there have been droughts, saline intrusion, floods in HCM City, pollution in Ha Noi, etc. In 2015, Viet Nam signed various free trade agreements, but their effectiveness has yet to be seen. It’s the same with the ASEAN … [Read more...] about Outlook for Vietnam’s GDP growth gloomy
Outlook for GDP growth gloomy
Viet Nam News Assoc Prof and PhD Nguyễn Hoàng Ánh, vice director of the Institute for International Economics and Trade under the Hà Nội Foreign Trade University, speaks to Hải Quan (Customs) newspaper about the Government's decisions to revise GDP growth targets. In Cabinet meeting last week, Prime Minister Nguyễn Xuân Phúc lowered the Gross Domestic Products (GDP) growth target from 6.7 per cent, put forward at the beginning of the year, to 6.3 to 6.5 per cent. What has affected the initial growth target? Việt Nam has witnessed a lot of troubles in 2016, after a relatively successful 2015. This year has been marked with many environmental crises, with the Formosa incident in four central provinces being the worst. To make matter worse, there have been droughts, saline intrusion, floods in HCM City, pollution in Hà Nội, etc. In 2015, Việt Nam signed various free trade agreements, but their effectiveness has yet to be seen. It's the same with the ASEAN Economic Community, which … [Read more...] about Outlook for GDP growth gloomy
Govt firm on GDP growth target of 6.7% this year
Govt firm on GDP growth target of 6.7% this yearLan Nhi By Lan Nhi - The Saigon Times Daily Prime Minister Nguyen Xuan Phuc speaks at the cabinet meeting in Hanoi on May 4 - PHOTO: CHINHPHU.VN HANOI - Prime Minister Nguyen Xuan Phuc has called on ministries and agencies to do whatever it takes to achieve gross domestic product (GDP) growth of 6.7% and control inflation this year despite a flurry of fresh problems arising. Phuc underscored the growth target at the opening day of a two-day cabinet meeting in Hanoi on May 4, the first such meeting after he took over as Prime Minister last month. The Government showed a determination to translate the GDP expansion target into reality though some international organizations have cut their growth forecasts for Vietnam based on the country’s economic performance in the first quarter and external factors. Last month, the International Monetary Fund (IMF) projected Vietnam’s economic … [Read more...] about Govt firm on GDP growth target of 6.7% this year
PM urges Vietnam to overachieve on GDP growth
As he chaired a regular government meeting on Monday, Vietnamese Prime Minister Nguyen Tan Dung called on the country to overachieve on its GDP growth target for 2016. Vietnam posted a GDP growth rate of 6.68 percent in 2015 and set a 6.7 percent goal for 2016. But Prime Minister Dung believes the country can do more than that, saying a growth rate of at least seven percent is possible, given the economy’s strong performance last year. The 6.68 percent growth in 2015 is the highest rate Vietnam has posted since 2010, and is much higher than the official 6.2 percent goal the lawmaking National Assembly had set earlier that year. “2015 was a tough time for both the domestic and global economies,” the premier said, referring to the slumping price of oil and agriculture produce, which resulted in a US$5.5 billion loss in Vietnam’s export revenue. “But Vietnam’s GDP still managed to grow by 6.68 percent, which lays a strong foundation for us to … [Read more...] about PM urges Vietnam to overachieve on GDP growth