Hanoi (VNA) – Deputy Prime Minister Trinh Dinh Dunghas signed a decision approving the restructuring plan for the industrialsector in 2018-2020, with consideration for 2025.

The plan aims to realise Resolution No.24/2016/QH14 on economic reshuffle in2016-2020 adopted at the second session of the 14th National Assembly. 

The plan sets the goal to raise the proportion of industry and construction inthe gross domestic product (GDP) to 30-35 percent by 2020. The proportionshould be kept above 35 percent in the following years up to 2025.  

The ratio of manufactured and processed goods in the total export turnover isprojected to be between 85-90 percent by 2020 and above 85 percent in the nextfive years. 

Labour in the industry and construction field is expected to account for 25-30percent of the total workforce. 

The annual average productivity growth rate in industry will be higher than 5.5percent by 2020 and from 6-7 percent in the period to 2025, while the gap inindustrial competitiveness index with ASEAN-4 nations (Singapore, Malaysia,Thailand and the Philippines) will be narrowed. 

The manufacturing value added (MVA) average growth is hoped to stand at 8-10percent by 2020. 

The restructuring plan aims to increase productivity, quality and added valueof many industries by the application of advanced production organisation, hightechnologies and technologies of the 4.0 Industrial Revolution in combinationwith environmental protection and response to climate change.

The plan will promote the economical and effective use ofnatural resources and energy in industrial production, implement a roadmap toreplace outdated machineries and equipment and close down polluting factories.

Another target is to build and upgrade value chains for anumber of industries such as garment-textile, footwear, chemicals, food andelectronics in order for them to join the global production network..

It looks to develop the domestic steel industry, enhance the efficiency of the miningsector, especially for coal, oil and gas industries.

Large-scale businesses are also encouraged to engage in the automobileindustry.
Attention will be paid to developing the support industry inelectronics, mechanics, garment-textile, and footwear.

Priority will be given to the processing industry for agro-farm produce andaquatic products, especially those have competitive edge.

Attracting investment in clean energy, renewable energy and new energy toensure the national energy security, green growth targets, and mitigation ofclimate change impacts, is also one of the goals of the restructuring plan.

The plan also sets the tasks of stepping up the equitisation and divestment of Statecapital at State-run enterprises and increasing competitiveness of privateindustrial companies.-VNA