According to the resolution, in 2010 Vietnam aims to achieve higher GDP growth than in 2009, increase the stability of the macro-economy, prevent a return of high inflation and ensure social welfare.

The country will continue to increase the efficiency of international economic integration and maintain political stability, national defence, security and social order.

Major socio-economic targets include a GDP growth rate of 6.5 percent, an export growth rate above 6 percent, and consumer price index of less than 7 percent.

Vietnam wants to create 1.6 million new jobs, reduce the rate of poor households to a level of below 10 percent and increase forest coverage to 40 percent.

In the morning, Minister of Industry and Trade Vu Huy Hoang presented a progress report on the Dung Quat oil refinery – the first of its kind in Vietnam – and preparations for construction of the Son La hydro-electric power plant.

According to Minister Hoang, all bidding packages for the oil refinery have been completed and the refinery is currently on a trial run, meeting 99 percent of the plan. By August 15, 2009, it produced nearly 39,000 tonnes of LPG, 198,000 tonnes of A92 petrol, 142,000 tonnes of diesel and 30,000 tonnes of kerosene.

However, due to a technical failure at the residue fluid continuous cracking (RFCC) unit, the refinery will be handed over to Vietnam a bit later than planned (October 25).

Meanwhile, the Son La hydro-electric power project is progressing with the first generator scheduled to be connected to the national power grid in December 2010.

In another report, Minister of Agriculture and Rural Development Cao Duc Phat said the national programme to plant 5 million hectares of forest has seen good results, helping to develop the forest-based economy, create jobs, and raise farmers’ incomes. By 2008, Vietnam’s forest coverage reached 38.7 percent.