3:19:40 PM | 10/11/2008
A majority of Vietnamese lawmakers with 429 out of 440 voters in total Thursday Nov 6 approved the GDP growth target of 6.5 per cent and curbing inflation to below 15 per cent next year, the Nhan Dan newspaper, the mouthpiece of the Communist Party of Vietnam said on November 7.
Total investments will account for 39.5 per cent of the country’s GDP value; exports will grow 13 per cent, and 1.7 million jobs will be generated next year.
Vietnam also targets to cut poverty rate to 12 per cent, the paper said.
Lawmakers also requested the government of Vietnam improve forecasting capacity, remove hurdles for businesses, tighten state control over infrastructure investments and reduce trade deficit, Thoi Bao Kinh Te said.
Vietnam has recently shifting to loosening its monetary polices by allowing the central bank to cut benchmark rates, axe compulsory reserves to add more liquidity to the economy on fear of deflation threats.
The Asean country is adopting measures to expand exports markets to Eastern Europe, the Middle East, Latin American, and Asean countries in the face of the global financial crisis triggered by the U.S. sub-prime mortgage crisis.
Because EU, the U.S. are among Vietnam’s export markets, analysts said. (The People, Vietnam Economic Times)
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