The Future

The 9th Congress of the Vietnamese Communist Party in April 2001 reviewed achievements recorded during 15 years of renovation (1986 – 2001), laying targets for development by the year 2001 and 2010, focusing on promoting industrialization and modernization.

Socio- Economic strategy for 2001-2010:

Viet Nam’s socio-economic development strategy for the 2001-2010 period has been defined as to accelerate national industrialization and modernization along the socialist line and build the foundation for the country to basically become an industrialized nation by 2020.

The three breakthroughs defined by the strategy to promote socio-economic development are to build uniform market-oriented economic institutions in line with socialism with focus on renewal of policy to liberate the production force and expand markets at home and abroad; make a vigorous change in the development of human resources, focusing on education-training, science-technology; renew the organization and operation of the political system, focusing on administrative reform. The specific goals of the Strategy are:

  • To ensure that by 2010, GDP will have at least doubled the 2000 level.
  • To increase visibly the efficiency and competitiveness of products, enterprises and the economy To better meet essential consumption demands, and a considerable part of production and export demands.
  • To ensure macro-economic stability; a sound international payment balance and growing foreign exchange reserves.
  • To keep budget deficits, inflation and foreign debts within safe limits to effect positively economic growth.
  • Domestic savings are to amount to over 30 percent of GDP.
  • Exports are to increase at a rate more than double that of GDP growth.
  • Agriculture is to account for 16-17 percent of GDP, industry 40-41 percent, and services 42-43 percent.
  • Agricultural labour is to drop to around 50 percent of the workforce.
  • To raise substantially the Vietnamese Human Development Index (HDI).
  • The population growth rate is to have dropped to 1.1 – 1.2 percent by 2010.
  • To eliminate the category of hungry households, and reduce quickly the number of poor households.
  • To solve the employment issue in both urban and rural areas (to reduce urban unemployment rate to below 5 percent; and increase utilized work-time in rural areas to about 80-85 percent).
  • To raise the trained labour ratio to around 40 percent.
  • To ensure schooling to all school-age children.
  • To accomplish junior secondary education universalization nationwide.
  • To provide medical treatment to patients; to reduce (under-five) child-malnutrition to around 20 percent; to increase the average life expectancy to 71 years.

Industrialization and modernization is aimed at developing Vietnam into an industrial country with a modern technical and physical infrastructure, rational economic structure, a progressive production relationship in conformity with production level, a firm national defence and security, for wealthy people, strong country, just, democratic and advanced society.