January 19, 2023 | 14:53 (GMT+7)
Vietnam to become developed nation with high income by 2050
Vietnam is striving to become a developed nation with high income, full and harmonious socialist-oriented market economy institutions, and a fair, democratic and civilized society by 2050, according to the National Master Plan for the 2021-2030 period with a vision to 2050.
National Assembly Chairman Vuong Dinh Hue recently signed to promulgate Resolution No.81 on the master plan.
The country's GDP growth is expected to reach 7% per year during the 2021-2030 period and 6.5% - 7.5% annually in the 2031-2050 phase.
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Van Don - Mong Cai expressway |
The GDP per capita in current price equivalent is projected to increase to USD 7,500 by 2030 and USD 27,000 - USD 32,000 by 2050.
The plan also aims to raise the proportion of urbanization to over 50% by 2030 and 70% - 75% by 2050. The digital economy will account for 30% of the GDP by 2030.
During 2021-2030, Vietnam will focus on inclusive, rapid and sustainable development based on science - technology, innovation, digital and green transformation and circular economic development.
By 2030, the service sector will make up 50% of the GDP, and industry - construction and agriculture, forestry, and fishing sector, 40% and 10%, respectively. The share of Total Factor Productivity (TFP) in the economic development will reach 50%.
Source: VNA