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Strategic breakthroughs for socioeconomic development
02/11/2012 - 16 Lượt xem
One of the nine major tasks that must be fulfilled to ensure successful realization of the goals set for 2013 is pushing forward the implementation of three strategic breakthroughs for socioeconomic development, said Prime Minister Nguyen Tan Dung at the fourth session of the 13th-tenure National Assembly.
Unrealized targets
In the first nine months of 2012, inflation was to some extent curbed with the Consumer Price Index (CPI) growing by 5.13 percent. In the rest of 2012 further efforts will be made to keep the inflation rate of the whole year at about eight percent. Compared with the beginning of the year, loan interest rates have decreased. The amount of credit loans provided for businesses in the agricultural sector to serve rural development has increased. The liquidity of the banking system has improved. The amount of money deposited at banks and credit institutions grew 12.7 percent. The foreign exchange rate was stable, strengthening people's trust in the Vietnamese dong and reducing the use of foreign currency and gold as a means of payment.
The export value increased by 18.9 percent, reaching US$83.79 billion; the import value grew 6.6 percent, reaching US$83.76 percent. The export and import value of the whole year is predicted to grow respectively by 16.6 and 6.8 percent and the trade deficit to reach US$1 billion, equal to 0.9 percent of the export value. Foreign currency reserves increased and were equivalent to over 11 weeks of imports; the surplus in international payments exceeded US$8 billion. State budget revenue and expenditure were equal to 67.3 and 71.2 percent of yearly projections. The State budget revenue target set for 2012 is feasible and overspending from the State budget can be curbed at the rate of 4.8 percent of the country's Gross Domestic Product (GDP) as projected by the National Assembly. Total investment in development in 2012 is predicted to equal 29.5 percent of the country's GDP (last year the index was 34.6 percent).
Many measures have been taken to help businesses overcome difficulties. Production and trade gradually improved. Inventories decreased. The number of businesses which stopped operations or announced their dissolution fell but remained higher compared with the same period last year. The number of newly registered businesses increased but was lower compared with that in the same period last year.
The economic growth rate was 4.73 percent in the first nine months and is predicted to reach about 5.2 percent for the whole year, lower than projection but increasing on a quarterly basis; inflation was tamed and macroeconomic stability was maintained - these were positive signals for sustainable development in the coming period.
Despite the above positive results, many limitations and weaknesses have been revealed. Macroeconomic stability was not firm. Inflation will possibly increase. Bad debts were high. Credit interest rates remained high. Deposit growth was much higher than credit growth; the gap between deposit and credit interest rates was big. Businesses still met numerous difficulties in seeking access to capital sources; inventories were high. The number of businesses which had to stop operations or dissolve was high. The real
estate market remained in stagnancy and showed no sign of recovery.
Some State-owned corporations and groups operated inefficiently,
violating the law and causing big losses for the State. The restructuring of the Vietnam Shipbuilding Industry Group (Vinashin) revealed many problems. The equitization of State-owned businesses was slow. The reorganizing of investment, State-owned businesses, financial market and commercial banks was in the first stage with lots of difficulties. The capability of making socioeconomic forecasts was limited. The quality, effectiveness and competitiveness of the economy still need further improvements.
The lives
of many Vietnamese people, especially those who live in remote areas
and ethnic-minority people, are still full of difficulties. Due to
limited resources, social support policies as well as poverty
reduction, new rural area development, employment generation and salary
reform programs have not met practical demands.
Under conditions of numerous difficulties and challenges, the Government has managed the implementation of socioeconomic development tasks of 2012 and realized/exceeded 10 out of the 15 targets set by the Communist Party and the National
Assembly. Five unrealized targets are related to GDP growth, total
investment in development, employment generation, poverty reduction and
forest coverage rate. The economy still reveals many limitations and weaknesses, so in the rest of 2012 the Government will have to implement heavy tasks.
To achieve the 5.2 percent GDP growth target set for 2012, Vietnam must increase its GDP by 6.5 percent in the fourth quarter (the growth rate of the third quarter was 5.35 percent). This requires the entire political system, State management authorities and the business
community to make joint efforts to promote production and trade,
maintain macroeconomic stability, curb inflation and achieve a higher
economic growth rate in 2013.
Building a firm foundation for development
Based on the results of 2012, the Government requested the National Assembly to identify general objectives of 2013, focusing on efforts to intensify macroeconomic stability, reduce inflation and achieve a higher economic growth rate. These efforts must be made along with endeavors to restructure the economy, change the growth model, ensure social security, improve the effectiveness of external relations and international integration, intensify national defense, security and ensure sociopolitical stability. A firm foundation must be built to promote sustainable development in the years to come.
Major targets set for 2013 include:
Economic targets: GDP to grow 5.5 percent; Export value to increase by 10 percent; Trade deficit to grow about eight percent; Overspending from the State budget to equal no more than 4.8 percent of the country's GDP; CPI to grow about eight percent; Total investment in development to account for about 30 percent of the country's GDP.
Social targets: Poverty rate to decrease by two percent nationwide and four percent in poor districts; Employment to be created for about 1.6 million workers, unemployment rate in urban areas to be kept below four percent, trained workers to account for 49 percent of the country's workforce; 22 hospital-beds per 10,000 people (not including beds at medical stations of communes).
Environmental targets: 84 percent of seriously polluting production facilities to be treated; 75 percent of industrial zones, export-processing zones to have a central wastewater treatment system meeting environmental standards; Forest coverage rate to reach 40.7 percent.
The Prime Minister admitted his mistakes and the Government’s weaknesses before the National Assembly and Vietnamese people. He emphasized, "In 2013, an important transitional year of the 2011-2015 Socioeconomic Development Plan, our country will have to cope with lots of difficulties and challenges and fulfill heavy tasks. Under the leadership of the Communist Party Central Committee, the entire Party, army, people and political system must make joint efforts to implement the tasks of 2013 and contribute to successful implementation the five-year socioeconomic development plan for the 2011-2015 period."./.
Source: VEN.
Unrealized targets
In a report on the situation of socioeconomic development in 2012, the Prime Minister indicated that in the context of numerous difficulties facing the economy, the Government has had to cope with big challenges in managing socioeconomic development in 2012. The Government has taken a number of measures aiming to achieve the goals given in National Assembly resolutions.
The export value increased by 18.9 percent, reaching US$83.79 billion; the import value grew 6.6 percent, reaching US$83.76 percent. The export and import value of the whole year is predicted to grow respectively by 16.6 and 6.8 percent and the trade deficit to reach US$1 billion, equal to 0.9 percent of the export value. Foreign currency reserves increased and were equivalent to over 11 weeks of imports; the surplus in international payments exceeded US$8 billion. State budget revenue and expenditure were equal to 67.3 and 71.2 percent of yearly projections. The State budget revenue target set for 2012 is feasible and overspending from the State budget can be curbed at the rate of 4.8 percent of the country's Gross Domestic Product (GDP) as projected by the National Assembly. Total investment in development in 2012 is predicted to equal 29.5 percent of the country's GDP (last year the index was 34.6 percent).
Many measures have been taken to help businesses overcome difficulties. Production and trade gradually improved. Inventories decreased. The number of businesses which stopped operations or announced their dissolution fell but remained higher compared with the same period last year. The number of newly registered businesses increased but was lower compared with that in the same period last year.
The economic growth rate was 4.73 percent in the first nine months and is predicted to reach about 5.2 percent for the whole year, lower than projection but increasing on a quarterly basis; inflation was tamed and macroeconomic stability was maintained - these were positive signals for sustainable development in the coming period.
Based on the results of 2012, the Government requested the National Assembly to identify general objectives of 2013, focusing on efforts to intensify macroeconomic stability, reduce inflation and achieve a higher economic growth rate. These efforts must be made along with endeavors to restructure the economy, change the growth model, ensure social security, improve the effectiveness of external relations and international integration, intensify national defense, security and ensure sociopolitical stability. A firm foundation must be built to promote sustainable development in the years to come.
Major targets set for 2013 include:
Economic targets: GDP to grow 5.5 percent; Export value to increase by 10 percent; Trade deficit to grow about eight percent; Overspending from the State budget to equal no more than 4.8 percent of the country's GDP; CPI to grow about eight percent; Total investment in development to account for about 30 percent of the country's GDP.
Social targets: Poverty rate to decrease by two percent nationwide and four percent in poor districts; Employment to be created for about 1.6 million workers, unemployment rate in urban areas to be kept below four percent, trained workers to account for 49 percent of the country's workforce; 22 hospital-beds per 10,000 people (not including beds at medical stations of communes).
Environmental targets: 84 percent of seriously polluting production facilities to be treated; 75 percent of industrial zones, export-processing zones to have a central wastewater treatment system meeting environmental standards; Forest coverage rate to reach 40.7 percent.
The Prime Minister admitted his mistakes and the Government’s weaknesses before the National Assembly and Vietnamese people. He emphasized, "In 2013, an important transitional year of the 2011-2015 Socioeconomic Development Plan, our country will have to cope with lots of difficulties and challenges and fulfill heavy tasks. Under the leadership of the Communist Party Central Committee, the entire Party, army, people and political system must make joint efforts to implement the tasks of 2013 and contribute to successful implementation the five-year socioeconomic development plan for the 2011-2015 period."./.
Source: VEN.
