Ministries, agencies and localities must try at their best to realise socio-economic development targets in 2009, said the PM at the cabinet meeting on September 1.

He said that Vietnam must achieve a GDP growth rate of 6.5 percent or beyond in the fourth quarter to raise the annual rate to 5 percent as adjusted by the National Assembly in May.

He also emphasized the importance of reaching the development goal for 2010, saying this is a decisive factor in the successful implementation of Vietnam’s five-year socio-economic development plan until 2010.

The Government leader called on the designated agencies and localities to achieve higher economic growth in 2010 than in the previous year to create a prerequisite for steady growth in 2011.

He asked the Ministry of Finance and the Ministry of Planning and Investment to cooperate with relevant ministries and agencies to complete a report on development in 2009 and map out a plan for 2010.

The Ministry of Planning and Investment predicted that Vietnam is likely to meet or surpass 17 out of 25 development targets for 2009. The annual GDP growth rate is expected to reach 5-5.2 percent, while the consumer price index (CPI) will be kept at around 7 percent, budget deficit at 6.9 percent of GDP and the poverty rate at 11 percent.

Ministers focused on promoting the Government’s stimulus packages, effectively disbursing investment capital, creating good conditions for all economic sectors, flexibly adjusting the monetary policy and ensuring social welfare.

They agreed to make a greater effort to ensure the stability of the macro-economy, improve people’s living standards, promote social progress and equality, boost external relation and ensure national security, with the overall aim of fulfilling the five-year socio-economic development plan until 2010.

Under the plan, in 2010 the GDP growth rate will reach 6.5 percent, the production value in the agro-forestry and fisheries sector, 2.8-3.3 percent, the industrial and construction sector, 6.7-7.3 percent, and the service sector, 7.8-8.3 percent.

Export turnover is expected to rise by 6 percent over the previous year. Total social development investment capital will account for 41.7 percent of GDP. About 1.6 million jobs will be generated, while 85,000 workers will be sent to work abroad.

VietNamNet/VOV