Vietnam Approves Revised Long-Term Development Plan with Ambitious Growth Targets to 2030

Hanoi, The Gulf Observer: Việtnam’s National Assembly (NA) has approved revisions to the country’s long-term national development plan, setting out some of the most ambitious economic growth targets in its history.

Under Resolution 252, Việt Nam aims to sustain average annual gross domestic product (GDP) growth of more than 8 per cent during the 2021–2030 period, with growth accelerating to at least 10 per cent a year in the latter half of the decade. The Resolution was formally certified by National Assembly Chairman Trần Thanh Mẫn, revising a development framework originally adopted in 2023.

By 2030, Việt Nam seeks to attain upper-middle-income developing country status with a modern industrial base, driven primarily by science, technology, innovation and digital transformation. Services are projected to account for more than 50 per cent of GDP by the end of the decade, while industry and construction are expected to exceed 40 per cent, led by manufacturing. GDP per capita is forecast to reach approximately US$8,500 at current prices.

Productivity growth has been identified as a central pillar of the strategy. The plan targets average annual labour productivity growth of about 7 per cent between 2021 and 2030, rising to more than 8.5 per cent from 2026 onwards. Total factor productivity is expected to contribute over 55 per cent of overall economic growth.

The revised blueprint also outlines goals to position Việt Nam among the leading upper-middle-income economies in science, technology and innovation, while expanding the digital economy to around 30 per cent of GDP through large-scale investment in data and digital infrastructure.

Education and human capital development feature prominently in the plan. Việt Nam aims to have at least eight universities ranked among Asia’s top 200 by 2030, and at least one institution placed within the world’s top 100 in selected academic disciplines.

Renewed emphasis has been placed on balanced regional development. The plan identifies six socio-economic regions and introduces coordination mechanisms to strengthen inter-regional linkages and improve resource allocation. Two major growth poles — Hà Nội in the north and Hồ Chí Minh City in the south — are expected to anchor national development, supported by key economic corridors and modern, integrated infrastructure.

By 2030, Việt Nam plans to develop approximately 5,000 kilometres of expressways, alongside new international gateway ports, airports, railway links and urban transit systems. Regional growth targets have been set at uniformly high levels.

The Red River Delta is projected to achieve average annual growth of around 11 per cent between 2026 and 2030. The Southeast region is expected to grow by 10–11 per cent annually, positioning it as the country’s largest growth engine and a future hub for high-tech manufacturing, logistics and finance.

The Mekong Delta is slated to become a modern, high-value agricultural centre, with annual growth targeted at up to 9.5 per cent, supported by technology-driven farming and processing industries. The Northern Midlands and Mountainous Region is projected to expand by around 10 per cent annually over the same period, with a focus on green growth and more balanced socio-economic development.

The North Central region, stretching along Việt Nam’s central coast, is expected to post annual growth of more than 10 per cent, driven by the marine economy, coastal industrial zones and port infrastructure. Authorities aim to transform the region into a new engine of maritime-led growth. Meanwhile, the South Central Coast and Central Highlands region is targeting average growth of 9.5–10 per cent.

The revised development plan underscores Việt Nam’s determination to lock in high growth through the end of the decade, a strategy that will test the country’s capacity to deliver sustained productivity gains, manage regional disparities and mobilise investment on an unprecedented scale.