Vietnam targets annual GDP growth of 7 percent over next five years

In his direction of socioeconomic development during the 2021-2025 period, Vietnamese Prime Minister has planned to target annual gross domestic product growth of 7 percent.

Vietnam targets annual GDP growth of 7 percent over next five years. Photo: Nhan Dan

Prime Minister Nguyen Xuan Phuc ordered to have plan for socioeconomic development for the period 2021-2025in the context of strategic competitiveness, wars of commerce, conflicts of natural resources, market, technology and high-skilled workers between countries plus the Covid-19 pandemic.

The PM said that the country’s economy grew at its slowest pace during the 2021-2025 period because of its own difficulties such as ageing population, rich-poor gap, natural disasters, climate changes, rising seawater, saltwater intrusion; therefore, state competent agencies need to determine basic problems for the socioeconomic growth in the period 2021-2025.