Vietnam eyes annual GDP growth of 6.5-7 percent from 2016-2020

Phuc was nominated for prime minister by the Party Central Committee in January. The NA is expected to approve the appointment on April 7, a day after Prime Minister Nguyen Tan Dung is scheduled to step down.

As part of the key measures to achieve the target, Vietnam will develop its socialist-oriented market economy, stabilize the macro-economy and restructure the national economy, Phuc said.

Vietnam’s GDP rose 6.68 percent in 2015 compared to 5.98 percent in 2014. Its GDP last year was valued at $193.4 billion, with GDP per capita at $2,109, he added.

The country’s average GDP growth from 2011-2015 was 5.91 percent, lower than the target of 6.5-7 percent set by the outgoing government, according to Phuc.