Vietnam Targets Industrial & Construction Value of 45 per cent of GDP by 2020

Vietnamese targets industrial & construction value of 45 per cent of GDP by 2020, according to a master plan on industrial development according to regions and territories in Vietnam by 2010, and vision to 2020, which has been approved by the Prime Minister.

 

Under the plan, by 2010, the country will focus on industries, which are capable of brining into play comparative advantages, controlling the domestic market and promoting export.

 

Priorities will be given to high-tech industries, specially information technology (IT), telecommunications, electronics, automation and software production.  

 

A vision to 2020, industrial and construction value is targeted to account for 45 per cent of the country’s GDP, a rise of at least 5 folds as compared with 2000. In the industrial structure, the proportion of processing industry will make up 87-88 per cent of the total, skilled workforce will accounts for 60 per cent, manufactured goods for export 70-75 per cent, industries using high technologies 40-50 per cent and industrial export value is aimed for 85-90 per cent of the country’s total export value.

 

Vietnam was estimated to earn industrial production value of VND40.91 trillion (US$2.58 billion) in March this year, up 12.6 per cent on-month, raising the total production value in the first quarter of this year to VND118.19 trillion (US$7.48 billion), up 14.7 per cent on-year, narrowly falling short of the planned 15.5 per cent growth rate.