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2010 will have many challenges for businesses.

Vietnamese economy still encounters many challenges in 2010 and 2010 is also the year of implementation deadline of WTO commitments. Therefore, in the plenary in early 2010, the Government targets to boost economic recovery, raise efficiency and sustainability for development, ensure social welfare, raise the public’s material and spiritual life and among others.

According to the Ministry of Planning and Investment, GDP growth pace in 2010 will surge about 6.5% whilst inflation will be controlled at about 7%. Accordingly, GDP will reach about VND1,931tril and per capita income at over US$1,200.

The ministry also forecasted to reach VND801tril in the    investment capital for development. Compared to 2009, the investment capital from the State budget will decrease whilst other capital sources will up. Specifically, the investment capital from the State budget will be at VND125.5tril, an 18% drop against 2009 whilst the Government bond capital accounts for 8.2% of total development investment capital, a 22.2% rise over 2009 and ect.

In terms of trade balance, the ministry forecasted that 2010 export revenue will reach about US$64.65bil, a 6% increase over 2009 whilst import turnover at US$77.4bil, a 9% surge against 2009.

The State budget overspending in 2010 will also be at 6.5% of GDP whilst the total budget collection will be at VND456.4tril, a 16.8% rise against 2009 and the total budget expenditure at VND581.9tril, an 18.4% increase over 2009.

Reported by T.Son – Translated by A.C