HANOI, Nov. 11 (Xinhua) -- Vietnam aims to achieve a gross domestic product (GDP) growth of around 6.8 percent in 2020, compared to the 6.6-6.8 percent set for this year.
The target, as part of the socio-economic development plan for 2020, was approved on Monday by the National Assembly (NA) of Vietnam, the country's top legislature, during its 8th session of the 14th tenure.
Under the plan, Vietnam will also strive to curve its consumer price index (CPI) growth at under 4 percent and post a rise of 7 percent in export turnover, Vietnam News Agency reported.
To achieve the targets, the NA requested the government to maintain macroeconomic stability, controlling inflation, improving competitiveness of economic and business environment, and speeding up implementation of major national projects.
Vietnam's GDP expansion is projected to decelerate from 7.1 percent in 2018 to 6.6 percent in 2019, due to slower export growth and weaker agricultural production growth, according to a World Bank's report released in October. The bank also predicted that Vietnam's economic growth will moderate to 6.5 percent in 2020 and 2021.
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