Vietnam will need total investments of VND6,340 trillion (US$333 billion) for economic development projects in 2011-2015 period, up 1.9 folds in comparison with the sum for 2006-2010, the Ministry of Planning and Investment (MPI) said.
The total investments in the next five years will account for at least 41.5% of the country’s GDP, the ministry estimated. Seventy percent of the sum will come from domestic sources and the remainder from foreign loans.
The country will prioritize these funds to improve infrastructure and human resources, industrial, construction, and services sectors to become an industrialized nation by 2020, said Bui Ha, director of the MPI’s Department of National Economic Issues.
The proportion of industry and construction sector will make up 40%-41% of the country’s GDP, compared to 40.3% estimated in 2010, the MPI said in a draft socio-economic development plan for 2011-2015.
The same ratio is also expected to the services sectors while that for agro-forestry-fisheries sector will be at 18%-19% in the period, compared to 39.7% and 19.5% this year, respectively.
Other industrial sectors like energy, electronic and mechanical manufacturing and environmental-friendly fields and services such as telecom, education, finance, logistics will also get priorities in the five-year phase, he added.
MPI Deputy Minister Cao Viet Sinh said the increased investment for development projects in those sectors would ensure the national growth and create favorable conditions for a sustainable growth.
Vietnam’s average economic growth is set to be 7.5%-8.5% in the next five years, according to the draft.
The country plans to invest a total of VND791 trillion in development projects this year, compared to VND708.8 trillion last year, the government said. (VIR)
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