A growth in real GDP averaging 7-8 percent per year under the Plan period shall be a major objective. This figure implies a tripling of per capita income to about US$5,000 in two decades. This is a higher growth trajectory than the past decade's and shall be attained through a higher contribution of physical capital to GDP growth, as well as through increases in total factor productivity. Through massive investments in transport, water, energy, and other infrastructure, and through good governance, the contribution of physical capital to GDP growth is targeted to increase. This is possible under current conditions through a significant but still attainable increase in the share of investment to GDP. Sustaining growth in later years, however, will require even higher investment ratios reaching 22 percent by 2016. It is expected that the investments in infrastructure and in education and health, improvement in governance, and the supporting strategies (such as research and development and science and technology policies), are expected to boost total factor productivity's contribution to GDP growth.
This annual growth target will generate an average of some one million (1,000,000) net employment annually, and these will be found primarily in industry and services, even as the agricultural sector may continue to be a net shedder of jobs. The completion of agrarian reform, a resolution of property rights issues in agriculture and implementation of major infrastructure shall enable agriculture and agro-processing to come into their own again and begin to reabsorb labor. If the labor force grows at 2.75 percent annually, the unemployment rate should hover at 6.8 -7.2 percent during the Plan period, although it should be noted these numbers do not factor in possible reversals in overseas migration trends as more domestic jobs are created.