Hanoi, Vietnam – Vietnam has set an ambitious target for its economic growth in 2024, aiming for a 6-6.5% increase in gross domestic product (GDP) and a per capita income between 4,700-4,730 USD. This goal was formalized in a resolution approved by the National Assembly (NA) with 90.49% of the votes.
According to Vietnam News Agency, the resolution, adopted on November 9 and signed into effect by NA Chairman Vuong Dinh Hue on November 24, outlines key economic objectives for the coming year. It envisions a significant contribution from the manufacturing-processing sector to the GDP, aiming for 24.1-24.2%. Additionally, the resolution targets a productivity growth rate of 4.8-5.3% and anticipates the agricultural labor force to comprise 26.5% of the total workforce, with trained workers making up about 69% of the total.
Vietnam’s multidimensional poverty standards aim to reduce the poverty rate by over 1% in 2024, and health insurance coverage is projected to reach 94.1% of the population. The resolution highlights Vietnam’s commitment to driving economic growth while maintaining macroeconomic stability, controlling inflation, and ensuring the economy’s major balances. Emphasis will also be placed on strategic breakthroughs, economic restructuring, growth model innovation, and enhancing productivity, quality, efficiency, and competitiveness.
Next year, Vietnam will focus on addressing institutional and policy bottlenecks, unlocking resources, and solving market development challenges. Acceleration of key strategic and national infrastructure projects is also on the agenda. The resolution underscores the importance of administrative reform, improving the business investment climate, fostering public-private partnerships, and inclusive development in various sectors.
The NA calls on Vietnamese citizens, soldiers, and overseas nationals to embody the spirit of patriotic emulation and solidarity, encouraging them to adapt flexibly to both global and national situations. This collective effort is aimed at successfully implementing the 2024 socio-economic development plan, creating a favorable momentum for the country to achieve its five-year development goals for the 2021-2025 period.