HCM City tasked to become Southeast Asia’s economic hub by 2030
Hanoi, The Gulf Observer: Vietnam issued a resolution that set the goal to make HCM City a modern city that leads the country in the digital economy and be an economic hub of Southeast Asia by 2030.
At the meeting chaired by Party General-Secretary Nguyen Phu Trong, the Politburo reviewed the implementation of development goals in the 2010-2020 period and set new goals for 2030 with a vision to 2045.From 2010 to 2020, HCM City’s economy expanded 2.7 times and its GRDP doubled.
The city continued to reform its growth model, with the development based on science and technology applications. Its economic structure shift was also on the right track as it focused on high-tech industry, services and agriculture.
The annual state budget collection was also higher than planned.The city also witnessed positive achievements in other fields including science, technology, education and training, health, culture and sports while ensuring social welfare and improving people’s quality of life.
Despite positive results, the Politburo also pointed out limitations including low competitiveness, slowed economic growth compared to the previous period, the investment environment remains slow to improve and the per capita income goal being unmet.
Under the newly approved resolution, HCM City is set to become a modern city by 2030, leading the country in digitalisation and an economic, financial, trade, science and technology and cultural hub of Southeast Asia in 2030. It will become an economic, financial and service hub of Asia, a global destination and among major cities in the world.
The city is set to achieve rapid and sustainable economic development, improving productivity and international competitiveness while strengthening linkages for regional development.
HCM City is also tasked to accelerate the construction of infrastructure, and improve the quality of planning while ensuring sustainable development and adaptation to climate change.
