PM Nguyen Tan Dung has issued a directive requesting ministries and local authorities to set socio-economic development targets and budget estimate for 2014, with a view to achieving a GDP growth of 6 percent.

As stated in the Directive, all concerned agencies must work together to ensure economic growth and macro-economic stability, boost economic restructuring and growth model transformation, improve social security and welfare, step up effective foreign diplomacy and international integration, and strengthen defense, political security and social order.  Besides targeting a GDP growth rate of around 6%, the country will try to keep inflation rate at around 7 percent. Prime Minister Dung asked all ministries to effectively carry out and devise mechanisms and policies that are aimed at creating more jobs, strengthening labor safety, and improving the quality of life of people, especially those living in poor and remote areas.  More efforts are to be made to further streamline and simplify administrative procedures to bring more convenience to people, facilitate businesses in their operations, and contribute to boosting the country’s social and economic development, the directive said.  As far as budget is concerned, the directive requests that the state budget revenue from taxes and fees account for about 18-19 percent of GDP in 2014, domestic budget collection increase by 12-13 percent from 2013, and collection from export-import tax rise by 8-9 percent year on year. The building of 2014 budget estimate must be based on the State budget performance in 2013 and forecasts about production, trade and investment in 2014, the directive said.