NA sets 2025 GDP growth at 6.5-7%

The National Assembly (NA) has set a target of 2025 GDP growth of 6.5-7% under a resolution on the socio-economic development plan for next year, which was adopted by the parliament on November 12.

Under the resolution, per capita GDP is expected to reach $4,900, the proportion of the processing - manufacturing industry in the GDP at about 24.1%, and the consumer price index (CPI) estimated to increase by some 4.5%.

The average labour productivity is expected to surge 5.3 - 5.4%, the rate of trained workers at about 70%, and the unemployment rate in urban areas at less than 4%.

The main targets in the 2025 socio-economic development plan were set on the basis of analyses and forecasts of the domestic and international situation, advantages and difficulties next year, along with the orientations, targets, and tasks specified in the socio-economic development plan for 2021 - 2025, according to the NA Standing Committee.

In the resolution, the NA set key tasks and solutions, including stronger and more timely solutions to remove institutional bottlenecks and shortcomings and boost administrative reform and simplify business conditions; and giving priority to promoting economic growth, supporting business and production, stabilizing macro-economy, curbing inflation and ensure major balances of the economy.

Other tasks include focusing resources to complete strategic infrastructure, restructure sectors in connection with new growth model towards increasing application of science and technology and promoting innovation; and developing high-quality human resources.