Vietnam’s gross domestic product (GDP) growth is estimated to hit ten-year high record at 8.44 per cent in 2007, compared with the 8.17 per cent growth in 2006, Minister of Planning and Investment Nguyen Hong Phuc said at the Government’s monthly regular meeting.
Vietnam has reached and accomplished key economic criteria targeted for this year, he said.
GDP per capita reached US$833 this year, higher than last year’s US$720.
Industrial production value is estimated to increase 17.1 per cent and agricultural production grows 4.65 per cent, up from 17 and 4.4 per cent in 2006, respectively.
Total social investment capital is amounted at VND462.2 trillion and the poor have been reduced to 14.87 per cent from 19 per cent in the previous year.
However, Vietnam recorded high trade deficit at US$12.4 billion, which accounts for 25.7 per cent of exports, Phuc said.
Meanwhile, export value exceeds 3.4 per cent beyond the annual plan at US$48.3 billion, raising the monthly exports to US$4 billion. Ten export items have turnover of more than US$1 billion.
The U.S. has surpassed EU to become Vietnam’s leading export market, making up 22 per cent of Vietnam’s exports, while EU holding 19 per cent.
The ODA pledged by donors for Vietnam recorded at US$5.4 billion, while FDI jumped to US$20.3 billion from US$12 billion of last year.
Phuc said Vietnam created 1.68 million jobs in the year, up 5.1 per cent from the plan, of which a record of 82,5000 laborers are sent to work abroad.
Vietnam has lured 4.17 million of international arrivals, up 16.4 per cent on year, while domestic visitors reached 18.5 million.
The country has developed more 1.5 million telephone subscribers, up 60 per cent from 2006, bringing total telephones to 46 million units so far.
The minister said that Vietnam’s CPI rose too fast this year.
The CPI increased 2.91 per cent in December, driven by the increase by 4.69 per cent of food and foodstuff prices and by 4.38 per cent of transport and postal services.
Therefore, the CPI hovered by 12.63 per cent this year, the highest among the recent 10 years.
Vu Huy Hoang, Minister of Industry and Trade, said the CPI may increase 1.8 per cent in January 2008 due to the high demand for goods during Tet festival.
(Liberated Saigon)
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