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Vietnam gov’t announces annual 7% GDP growth target by 2030

Vietnam gov’t announces annual 7% GDP growth target by 2030

Friday, April 21, 2023, 16:26 GMT+7
Vietnam gov’t announces annual 7% GDP growth target by 2030
Prime Minister Pham Minh Chinh speaks at the conference to announce the National Master Plan in 2021-30 with a vision to 2050 in Hanoi on April 20, 2023. Photo: Vietnam Government Portal

The Vietnamese government on Thursday announced the targets of a seven-percent gross domestic product (GDP) growth rate a year in 2021-30 and a per capita income of US$7,500 in 2030.

Vietnam aims to become a nation with modern industry, a high average income, and economic growth based on science, technology, innovation, and digital transformation by 2030, according to the National Master Plan for 2021-30 with a vision to 2050 launched by the government in Hanoi.

This is the first time the government has announced a 10-year national master plan, instead of five-year plans as before.

In particular, the country is divided into six socio-economic regions: northern midland and mountainous, Red River Delta, north-central and central coast, Central Highlands, southeast, and Mekong Delta.

There are four national locomotive regions in the north, south, central, and Mekong Delta with the corresponding growth hubs of Hanoi, Ho Chi Minh City, Da Nang, and Can Tho.

The national government will give priority to the development of North-South and East-West economic corridors in 2021-30, including Lao Cai-Hanoi-Hai Phong-Quang Ninh and Moc Bai-Ho Chi Minh City-Vung Tau.

Speaking at a conference to launch the National Master Plan in 2021-30, Prime Minister Pham Minh Chinh asked ministries, agencies, and localities to draw up detailed projects and arrange resources for these projects.

The efforts should result in measurable efficiency and contribute to building an independent and self-reliant economy in association with deep, practical, and effective international integration to achieve the goal of a strong and prosperous country.

The government chief also required fulfilling 10 groups of missions and solutions to implement the National Master Plan.

They include translating the National Master Plan into national, regional, and provincial planning to ensure consistency; allocating resources for the effective implementation of the National Master Plan; building policies; attracting investment; developing human resources; reforming growth models associated with science, technology, and environment; mobilizing financial resources for planning; and boosting international cooperation; among others.

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Thanh Ha - Bao Ngoc / Tuoi Tre News

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