CPV’s 13th Plenum: Important preparation for Party Congress

VGP – The week-long 13th Plenum of the Communist Party of Việt Nam’s Central Committee (Tenure 10) was wrapped up on October 14, completing an important preparation for the upcoming Party Congress.

October 15, 2010 7:59 AM GMT+7

The 13^th Plenum of the Communist Party of Việt Nam’s Central Committee (Tenure 10) is wrapped up on October 14, 2010 in Hà Nội - Photo: VGP/Nguyễn Hoàng

Assessing socio-economic development in 2010, the Plenum concluded that the national economy is recovering quickly and many industries are regaining their own impetus.

However, there remain many weaknesses which should be settled, namely slow economic restructuring, low industrial production value, weak auxiliary industries, and poor performance of some economic groups.

Major indicators for 2011

- GDP growth rate: 7-7.5%

- Per capita GDP: US $1,300

- Total export turnover: up 10%

- Excess of imports over exports: below 20% of the export turnover

- Total investment capital: 40% of GDP

- CPI increase: 7%

- Poverty rate: 2%

- State budget overspending: 5.5% of GDP

The Plenum mapped out overall targets, major norms, orientations for the development of different economic industries, and six packages of solutions for 2011: (1) Creating a fair business environment and improving competitiveness of enterprises; (2) Applying financial and monetary policies to security of macro-economic stability; (3) Continuing economic restructuring towards higher efficiency and competitiveness; (4) Promoting production and export while narrowing trade gap; (5) Enforcing policies on job generation, poverty reduction, and social well-being; and (6) Bettering the performance of the State management apparatus.

The Party Central Committee also thoroughly discussed viewpoints of socio-economic development in the next five years (2011–2015) as well as the personnel selection for the 11^th Central Committee.

By Minh Hoàng