NA approves National Master Plan for 2021 to 2030 period

The National Assembly (NA) has voted for the approval of a Resolution on National Master Plan for the 2021-2030 period along a vision to 2050 with a ratio of 449 out of 489 votes in favour, accounting for 90.52% of the total number of NA deputies.

The approval was made during the National Assembly's second extraordinary meeting in Hanoi on January 9.

The NA agreed that during the 2031 to 2050 period, the nation will strive for an average gross domestic product (GDP) growth rate of 6.5% to 7.5% per year.

By 2050, GDP per capita at current prices is due to reach between US$27,000 and US$32,000; the rate of urbanisation by 2050 will reach 70% to 75%; the Human Development Index (HDI) will be 0.8 or higher with people's lives being happier, and national defence and security will be firmly guaranteed.By 2030, the national economy is due to achieve an average GDP growth rate of roughly 7.0% annually throughout the 2021 to 2030 period.

By 2030, GDP per capita will hit approximately US$7,500, with the proportion in GDP of the service sector standing at over 50%; the industry and construction sector will stand at over 40%; whilst the agriculture, forestry and fishery sector will be less than 10%.

The average growth rate of social labour productivity will be over 6.5% per year, while the contribution of total factor productivity (TFP) to growth will be more than 50%.

The NA has suggested bringing into play the various advantages of each socio-economic region, with a particular focus on developing the North and the South as two dynamic regions as they are associated with the two growth poles, namely Hanoi and Ho Chi Minh City. This is along with the North-South economic corridor, the Lao Cai - Hanoi economic corridor - Hai Phong - Quang Ninh, and Moc Bai - Ho Chi Minh City - Bien Hoa - Vung Tau, creating synchronous and modern infrastructure with high growth rate to make great contributions to the overall national development.

Furthermore, the target is to boost sustainable urban development by network, with urbanisation rate reaching over 50%, and between three and five cities developing on a par with regional and international standards.

The nation is therefore set to develop a new rural area in a comprehensive manner, sustainably and in association with urbanisation, with the rate of communes meeting new rural standards reaching over 90%, of which 50% of communes will meet newly-enhanced rural standards.

The NA has set out aims to strongly develop digital and data infrastructure to create a foundation for national digital transformation, as well as to develop the digital government, the digital economy, and digital society with the proportion of the digital economy reaching about 30% of GDP.

This resolution also clarifies the development orientation for socio-economic space, organising the national development space into six socio-economic regions.

Orientations for regional development and linkages include northern midland and mountainous regions, striving for an average growth rate of gross domestic product (GRDP) of about 8% to 9% per year.

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