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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 civilised society by 2050, according to the National Master Plan for the 2021-2030 period with a vision to 2050.
Vietnam to become developed nation with high income by 2050 ảnh 1Van Don-Mong Cai expressway (Photo: VNA)
Hanoi (VNA) – Vietnam is striving to become a developed nation withhigh income, full and harmonious socialist-oriented market economyinstitutions, and a fair, democratic and civilised society by 2050, accordingto the National Master Plan for the 2021-2030 period with a vision to 2050.

National Assembly Chairman Vuong Dinh Hue recentlysigned to promulgate Resolution No.81 on the master plan.

The country's GDP growth is expected to reach 7% per yearduring the 2021-2030 period and 6.5-7.5% annually in the 2031-2050 phase.

The GDP per capita in current price equivalent is projected toincrease to 7,500 USD by 2030 and 27,000-32,000 USD by 2050.

Vietnam to become developed nation with high income by 2050 ảnh 2Illustrative image (Photo: VNA)
The plan also aims to raise the proportion of urbanisationto over 50% by 2030 and 70-75% by 2050. The digital economy will account for30% of the GDP by 2030.

During 2021-2030, Vietnam will focus on inclusive, rapid andsustainable development based on science-technology, innovation, digital andgreen transformation and circular economic development.

By 2030, the service sector will make up 50% of theGDP, and industry-construction and agriculture, forestry, and fishing sector, 40% and 10%, respectively. The share of Total FactorProductivity (TFP) in the economic development will reach 50%./.
VNA
#National Assembly Chairman Vuong Dinh Hue#developed nation#high income#National Master Plan#socialist-oriented market economy#Vietnam#Vietnamplus#Vietnam News Agency
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