The Planning and Investment Ministry's General Statistics Office (GSO) officially launched a new National Statistical Indicator System (NSIS) in response to emerging global issues yesterday.
"The 2005 NSIS exposed various shortcomings in terms of the changing global economy," said GSO's deputy director Nguyen Bich Lam.
Lam said that previous system indicators had failed to keep up with industrialisation, modernisation and social security, adding that the new system would make new indicators suitable to current trends.
The GSO general director Do Thuc, said that the new system would ensure the independence, objectivity, uniformity and consistency of the statistical indicator system and avoid overlapping amongst relevant agencies.
The new system will cover 21 sectors including land, climate, administrative unit population, business and labour. The system will include 350 indicators, 76 of which will be brand new.
"Several environmental indicators were added to the system with 24 focused on environmental protection," he said.
Other new NSIS indicators include monetary, stock, insurance, real estate, public finance and national accounts.
As of this year, 297 indicators will come into practice while the remaining number would be implemented during the 2012-15 period.