NA approves major socio-economic indicators for 2021-2025

The overall objective set forth by the resolution is to ensure rapid and sustainable economic growth, by enhancing macroeconomic stability, developing science, technology and innovation, and making the most of the country’s potential and advantages.

In addition, the Resolution emphasizes the need to synchronously implement solutions to effectively cushion the impact of the COVID-19 pandemic, and quickly reboot the economy.

Another important task is to strengthen national defense and security, persistently struggle and firmly protect national independence, sovereignty, territorial integrity, and maintain a peaceful and stable environment for national development.

At the same time, Vietnam will continue to actively integrate into the world, and improve the efficiency of foreign affairs as well as Vietnam’s position and prestige in the international arena.

In its resolution, the legislature underlines the importance of implementing the ‘dual goal’ of epidemic prevention and economic recovery, but notes top priority will be given to protecting people’s health and maintaining social security.

It requests the government to urgently implement a comprehensive and effective vaccine strategy, aiming to achieve herd immunity by the end of 2021 or early 2022 at the latest.

Following are major indicators:

• Average annual GDP growth: 6.5 – 7%
• Average GDP per capita: US$4,700 – 5,000
• State budget deficit equivalent to 3.7% of GDP
• Life expectancy: 74.5 years
• Skilled labour force: 70%
• Unemployment rate in urban areas: ≤4%