International donors met in Hanoi on December 6 to review Vietnam's socio-economic development and chart a course for its economic reform in 2012.

 

At the 2011 Consultative Group (CG) Meeting for Vietnam, the Ministry of Planning and Investment (MPI) and the International Monetary Fund (IMF) will report on the country’s macroeconomic situation and identify orientations for economic and public investment restructuring.

 

Participants will discuss ways to restructure the finance and banking sectors and hear a representative from the Ministry of Labour, Invalids and Social Affairs (MoLISA) talk about measures to strengthen the social welfare system in Vietnam and improve the situation of urbanization, migration and poverty reduction.

 

They will be briefed on the results of a business forum, an anti-corruption forum and a consultative workshop on aid effectiveness in Busan.

 

Cao Viet Sinh, MPI Deputy Minister, said Vietnam has fulfilled its annual import-export targets, and succeed in stablising the exchange rates.

 

Vietnam’s total import-export revenue in 2011 is expected to hit US$202 billion, accounting for 170 percent of the country’s GDP.

 

The trade gap is estimated at US$10 billion, equal to 10.5 percent of the total import-export earnings, and much lower than the initial target of less than 18 percent.

 

According to the World Bank this year’s trade surplus hovers around US$3.1 billion, just a little above the last year’s level, thanks to the inflow of remittance from abroad worth nearly US$9 billion in total.

 

VOV