Last updated: 15:29 - June 13, 2006
Vietnam will increase private sector's role http://www.nhandan.com.vn/english/news/130606/domestic_increase.htm
Vietnam is striving to mobilise US $140 billion during 2006-10 to fulfill its target of achieving an annual economic growth rate of 7.5% or higher, said a senior official of the Ministry of Planning and Investment on June 12.
Deputy Minister Cao Viet Sinh told the Conference on Public-Private Partnerships (PPPs) in Provision of Essential Infrastructure Services for the Poor in Vietnam that 65% of the capital is projected to come from domestic sources and the other 35% from foreign sources.
According to the Deputy Minister, the public sector will receive 45% of the fund and the private sector, 55%, while this ratio five years ago was 51 and 48% respectively.
He said at the opening ceremony of the two-day conference, which kicked off in Hanoi on June 12 and was organised by the Ministry of Planning and Investment and the Asian Development Bank (ADB), that the private sector will play an important role in economic development after 2010, when Vietnam will escape from the group of low-income countries provided that it maintains a high economic growth rate of more than 8%.
The ADB said that it plans to hold a similar conference in Ho Chi Minh City on June 15-16. (VNA)
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