Deputy PM: World to see a new Viet Nam every decade
The bold declaration came in an interview with US financial news network Bloomberg on the sidelines of the World Economic Forum on East Asia that is running in Singapore from June 24-25.
Hung said Viet Nam was well on pace to maintain annual economic growth rates of between eight and 10 percent from now until 2020 by attracting foreign investment, reducing taxes and generating a massive amount of employment.
With such rampant growth, Viet Nam's gross domestic product by 2010 is expected to double its 2000 figure of 441.6 trillion VND (27 billion USD) and that number to be doubled again by 2020, Hung said.
"The Vietnamese Government expects that total foreign direct investment will increase to 100 billion USD by 2010 from 80 billion USD at the end of 2006. At the same time, corporate income taxes will drop to below 20 percent by 2020 from 28 percent at present," he emphasised.(VNA)
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