The overall goal is to enhance the productivity, competitiveness and resilience of the Vietnamese economy.

Specifically, Vietnam targets annual productivity growth of 6.5% and aims to raise the contribution of technology and innovation towards economic growth, with total factor productivity (TFP) at 45% of GDP.

A facility to manufacture and inspect electronic circuits of Young Poong Electronics VINA in Vinh Phuc Province.

By 2025, the gap in national competitiveness between Vietnam and ASEAN-4 countries will be narrowed, especially in the criteria of institutions, infrastructure and human resources.

Under the plan, Vietnam will strive for a spending deficit of 3.7% of GDP, with total social investment at 32-34% of GDP and non-performing loans at below 3%.

The capitalisation of Vietnam’s stock market is expected to reach 85% of GDP by 2025.

Vietnam aims to have about 1.5 million enterprises, with about 60,000-70,000 being medium and large-sized businesses, while the private sector will contribute about 55% of GDP.

In order to realise such targets, the plan outlines a number of key measures, including focusing on fulfilling the goals of restructuring public investment, state budget and the system of credit institutions.

The government will also seek to enhance effectiveness in the allocation and use of resources, promote links between businesses in different sectors, boost regional connectivity, and foster the role of key cities and economic regions.

Vietnam’s economy to strongly rebound in 2022: Standard Chartered experts

The Vietnamese economy will recover strongly in 2022, starting at the end of the first quarter, said Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered, at a seminar held in Hanoi on February 18.

National economy expected to pick up pace this year

The northern port city of Hai Phong raked in 305.66 million USD worth of foreign capital in the first two months of 2022, given the complex developments of Covid-19.

Collective economy gradually established in national economy: PM

A national teleconference was held on February 15 to review the 20-year implementation of the Party Central Committee’s Resolution on the collective economy and the 10-year enforcement of the Law on Cooperatives.

Vietnamese economy to recover fast in 2022: Fitch Ratings

Vietnam’s recovery is set to gather momentum in 2022, as domestic demand rebounds and export performance remains strong, according to Fitch Ratings.

Boosting digital economy

(BGO)- In the Resolution No 111-NQ/TU of the provincial Party Committee, digital economy is targeted at 25 percent of the province’s Gross Regional Domestic Product (GRDP) and among the 3 key pillars including digital government, digital society and digital economy by 2025. In order to reach the set target, the province has seen dramatic transformation from the traditional economy to digital economy.

Source: NDO