Vietnam eyes economic growth of 6.5 pct in 2021

Vietnam will strive to achieve a gross domestic product (GDP) growth of about 6.5 percent in 2021, higher than the target of 6 percent earlier assigned by its top legislature, according to a resolution issued recently by the local government.

The document, with details on the socio-economic development plan and state budget estimates in 2021, states that Vietnam will also eye an average GDP per capita of some 3,700 U.S. dollars, a consumer price index hike of about 4 percent, and social health insurance coverage of around 91 percent, local daily newspaper Vietnam News reported Tuesday.

Noting that 2021 is an "especially important" year with crucial events to be held, and also the first year of implementing long-term development strategies in the new periods, the government calls for efforts to both combat the COVID-19 epidemic and restore socio-economic development in new normalcy.

The government will continue to pursue renovating the country's economic model, enhance productivity, and raise the economy's competitiveness based on science, technology and innovation.

In 2021, the country aims to expand and diversify export and import markets, proactively settle commercial relationships with its major partners, and effectively implement the free trade deals signed last year while giving more attention to the domestic market, according to the document.

Vietnam posted positive GDP growth of 2.91 percent in 2020 amid impacts of the COVID-19 pandemic, according to the country's General Statistics Office. The economy is expected to grow by about 6.8 percent in 2021 and stabilize at around 6.5 percent thereafter, the World Bank projected in a report released in December.

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