Vietnam Average GDP Growth Expected at 6.9% in 2006-10
Vietnam is expected to have posted the gross domestic product (GDP) growth rate of 6.9% on average a year between 2006 and 2010, failing to fulfill the earlier target of 7.5%-8%, the Ministry of Planning and Investment said.
The ministry also forecast that the GDP growth rate calculated on criteria of prices in 2010 will double that of 2000, in comparison with the targeted growth rate of 2.1 times higher.
The GDP per capita in U.S. dollar to be calculated on the base of 2008 exchange rate reached over US$1,000, equal to the target in 2010.
Among three major sectors, only the industrial and construction sector failed to reach the targeted average economic growth rate while the two remaining sectors of agriculture, forestry, aquaculture and services fulfilled the targeted annual growth rate.
The ministry predicted that the export turnover in 2009 and 2010 will be lower than the expected annual growth rate in 2006-2010.
The ratio of social investment capital over GDP in five years of 2006-2010 is expected to surpass the predicted one by 40%, it stated.
Vietnam’s economy grew 5.32% in 2009 and is forecast to expand by 6.5% by end-2010. (Vietnam Economic Times)
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