Vietnam has targeted annual industrial growth of 15.2-15.5 percent between 2006 and 2010 with focus on highly competitive and labor-incentive industries, local media reported Wednesday.

Vice Industry Minister Bui Xuan Khu said focus would be on agriculture, forestry and seafood processing, textile, garment, footwear, electronics and shipbuilding, newspaper Vietnam News said.

The industries should apply more advanced technologies and offer more professional training to their staff, he said.

Vietnam will keep on seeking both foreign and domestic investment for such fields as mining, electricity, petrol, coal, basic chemical substance, and machinery manufacture.

Khu said more oil refinery and petrochemical projects will be implemented to meet 30-35 percent of national petrol demand, and 20-30 percent of plastic demand by 2010.

The ministry also wants firms in Vietnam to engage in transfer of technology from foreign companies, and production of hi-tech products that could be purchased by multinationals, he said.

According to the ministry's estimation, some 55 billion U.S. dollars, including 14 billion dollars coming from foreign direct investment, will be invested in the local industry in the 2006- 2010 period.

Source: Xinhua