Electronics and telecommunications, industrial processing andmanufacturing and new energy development are highlighted in the masterplan of Vietnam's industrial development to 2025 with a vision to2030, the Vietnam Economic News reported.
Minister of Industryand Trade Vu Huy Hoang said that for the first time, Vietnam hasframed up a strategy and master plan of industrial development withspecific orientations and directions, approved by the Prime Minister, tohelp the industry and trade sector to complete its assigned tasks andcontribute to the industrialisation and modernisation of the country.
Underthe master plan, the projected growth rate of industrial productionvalue is expected to reach between 12.5 and 13 percent per year by 2020and between 11.0 and 12 percent per year from 2021 to 2030. The industryand construction’s shares of the GDP are estimated to account for 42-43percent by 2020 and for 43-45 percent by 2030.
By 2020, theproportion of industrial products and hi-tech products will reach 45percent of GDP and by 2030, the proportion will reach 90-92 percent andabove 50 percent, respectively.
Vietnam's industrialdevelopment will get along with modern technology, reasonable structure,competitive edge and global value chain participation.
By2030, Vietnam's industrial sector will be developed with moreadvanced technology, international standardised quality, and in-depthinvolvement in the global value chain.
The master plan ofindustrial development has proposed 7 solutions in capital, technology,human resources, market and product development, supporting industry,inter-regional cooperation and coordination for development, industrialpromotion, and supports for the development of small and mediumenterprises.
It is expected that 70-75 percent of funding forimplementation of master plan will be contributed from the businesses(attracting FDI of approximately 33-34 percent) while the state budgetwill finance approximately 3-4 percent of total funding, mainly oninfrastructure, human resource development, research, and scientific andtechnological innovation.
Apart from three industries selectedfor development priorities, others are of the supporting industrycategory, electronics and computer science, engineering and metallurgy,textiles, leather shoes and the industries to meet the domestic demandand increase exports.
One of the important issues is to encouragelocal business development, foreign investment as well as promotesustainable development of the non-state sectors.
In addition,there will be focus on developing small and medium enterprises. Thehuman resource issue is vital to determine the success ofindustrialisation, modernisation and development of industry which meetsboth environment and green technology requirements after 2020. At thesame time, the development of large-scale raw material supply for theprocessing industry will be also put on priority.
The masterplan also said it will focus on developing the midlands and northernmountains, Red River Delta, Central Coast, the Central Highlands,Southeast and Mekong River Delta.-VNA
Minister of Industryand Trade Vu Huy Hoang said that for the first time, Vietnam hasframed up a strategy and master plan of industrial development withspecific orientations and directions, approved by the Prime Minister, tohelp the industry and trade sector to complete its assigned tasks andcontribute to the industrialisation and modernisation of the country.
Underthe master plan, the projected growth rate of industrial productionvalue is expected to reach between 12.5 and 13 percent per year by 2020and between 11.0 and 12 percent per year from 2021 to 2030. The industryand construction’s shares of the GDP are estimated to account for 42-43percent by 2020 and for 43-45 percent by 2030.
By 2020, theproportion of industrial products and hi-tech products will reach 45percent of GDP and by 2030, the proportion will reach 90-92 percent andabove 50 percent, respectively.
Vietnam's industrialdevelopment will get along with modern technology, reasonable structure,competitive edge and global value chain participation.
By2030, Vietnam's industrial sector will be developed with moreadvanced technology, international standardised quality, and in-depthinvolvement in the global value chain.
The master plan ofindustrial development has proposed 7 solutions in capital, technology,human resources, market and product development, supporting industry,inter-regional cooperation and coordination for development, industrialpromotion, and supports for the development of small and mediumenterprises.
It is expected that 70-75 percent of funding forimplementation of master plan will be contributed from the businesses(attracting FDI of approximately 33-34 percent) while the state budgetwill finance approximately 3-4 percent of total funding, mainly oninfrastructure, human resource development, research, and scientific andtechnological innovation.
Apart from three industries selectedfor development priorities, others are of the supporting industrycategory, electronics and computer science, engineering and metallurgy,textiles, leather shoes and the industries to meet the domestic demandand increase exports.
One of the important issues is to encouragelocal business development, foreign investment as well as promotesustainable development of the non-state sectors.
In addition,there will be focus on developing small and medium enterprises. Thehuman resource issue is vital to determine the success ofindustrialisation, modernisation and development of industry which meetsboth environment and green technology requirements after 2020. At thesame time, the development of large-scale raw material supply for theprocessing industry will be also put on priority.
The masterplan also said it will focus on developing the midlands and northernmountains, Red River Delta, Central Coast, the Central Highlands,Southeast and Mekong River Delta.-VNA
