Vietnam aims to reach 7.5%-8.5% growth in the next five years

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Vietnam is targeting annual economic growth of 7.5 percent to 8.5 percent over the 2011-2015 period, according to a development strategy drafted by the Ministry of Planning and Investment.

The Southeast Asian nation also set a goal for gross domestic product to reach almost US$200 billion in 2015, and aims to increase per capita income to about $2,100, a 70 percent gain from 2010, a statement on the government's website cited the draft strategy as saying.

Vietnam's government plans to boost economic growth to 6.5 percent this year from 5.3 percent in 2009 as it woos investment to help create jobs for its 90 million people. The country may cease to be a low-income economy as GDP per capita reaches an estimated $1,200 in 2010, the ministry said.

The ministry's development strategy will be part of a political report for the 11th Congress of the ruling Communist Party to be held in the first quarter of 2011, according to the statement.

Some of the GDP targets are relatively high and Vietnam needs to focus more on the quality of economic growth, the statement cited the World Bank as saying.

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