Vietnam has targeted service export earnings of 8 billion US dollars or 41 percent of its gross domestic product (GDP) in 2010, compared with respective estimated figures of 5.6 billion dollars and 38.5 percent in 2005.

To this end, the country will increase investment in the service industry to 780-840 trillion Vietnamese dong (VND) (49.4- 53.2 billion dollars), or 42-43 percent of its total investment, between 2006 and 2010, local newspaper Labor on Monday quoted the Service and Trade Department under the Ministry of Planning and Investment as saying.

The respective figures for the 2001-2005 period are estimated at 220 trillion VND (13.9 billion dollars) and 22.5 percent. A large amount of the money has been spent on local aviation, posts and telecommunications, shipping, banking, finance and tourism services in recent years.

Vietnam earned nearly 5.1 billion dollars from service exports in 2004, up from over 1.8 billion dollars in 2001, according to the General Statistics Office.

Source: Xinhua