The Government observed that the economy can regain strong growth, with the GDP rising 7-7.5 percent in 2011.

Prosperity and challenges on the horizon in 2010

The goal set by the Government is part of instructions on the social-economic development plan and budget estimation for 2011.

Budget estimates for 2011 must ensure that revenue will reach over 23 percent of GDP, including those from taxes and fees equivalent to over 21 percent of GDP.

The Government anticipates that budget revenue from domestic sources, not including crude oil and land use fees, will rise by 17-19 percent compared to 2010, while export revenue will grow by 7-9 percent.

The Government told ministries and central agencies to review, adjust and abolish ineffective and outdated policies, while suggesting new and necessary policies for the 2011-2015 period as a basis for restructuring and improving effectiveness in budget spending in their fields of operation.

The Ministry of Planning and Investment and Ministry of Finance has been assigned to submit the 2011 social-economic development plan and budget estimates this September.

The Government cited three breakthrough measures to fulfill its goals: finalizing socialist-oriented market economic institutions, developing human resources and building synchronous infrastructure with modern and large-scale works.

This year Vietnam aims to obtain 6.5 percent GDP growth.

PV