Ho Chi Minh City announces socio-economic overall plan

VGP - Ho Chi Minh City on April 14 announced its master plan for socio-economic development through 2020, with a vision towards 2025, focusing on stepping up its connection with surrounding localities as well as the inter-disciplinary and inter-regional collaboration for the city’s fast and sustainable growth.

April 15, 2014 1:50 PM GMT+7

Under the plan, the country’s biggest economic hub will strive to become a multi-functioning economic, social and cultural centre with modern infrastructure system by 2020. It plans to develop facilities for the education and training, science-technology, healthcare, and sports sectors in accordance with national and regional standards up until 2030.

The city targets GDP growth ranging from 10-10.5 percent between 2011 and 2015, 9.5-10 percent in the 2016-2020 period and 8.5-9 percent in the five subsequent years. The GDP per capita will reach $8,430-8,822 by 2020.

In the short term, the city will give priority to upgrading the local infrastructure system and raising its climate change adaptability.

It will also concentrate on developing advantageous fields and fostering economic restructuring with focal points placed on the service, industrial and agricultural sectors.

Especially, services related to banking-finance, trade, logistics, post and telecommunication, information and technology and property will be boosted in the reviewed periods.

Regarding industry, emphasis will be placed on developing mechanical engineering, foodstuffs, and pharmaceutical chemistry and rubber, in addition to clean and energy-saving technologies and support industry.-VNA