Illustrative photo (Photo: VNA)

 Dak Lak (VNA) – The rate of poor households in the Central Highlands province of Dak Lak is expected to drop below 5 percent in 2020 under the locality’s master plan on socio-economic development to 2020 with a vision towards 2030.

Adjustments and supplements to the master plan have been recently approved by Prime Minister Nguyen Xuan Phuc.

The poverty rate is hoped to reduce by 1-2 percent each year from now to 2030 in line with present poverty standards.

Under the plan, Dak Lak’s annual gross regional domestic product (GRDP) during 2016-2020 is hoped to grow by 8.5-9 percent.

The province aims to raise its GRDP per capita to 60-60.5 million VND (2,640-2,860 USD) in 2020 and 217-220 million VND (9,548-9,680 USD) in 2030.

The number of labourers working in the farming sector is expected to make up only 55 percent of the province’s total labourers in 2020 and 38 percent in 2030. The unemployment rate in urban areas is projected at 2.5-2.7 percent for 2016-2020, and 2.2-2.5 percent for 2021-2030.

The agro-forestry-fishery sector is set to account for 38.5-39.5 percent of the province’s total GRDP in 2020 and 19-20 percent in 2030, with annual average growth rate at 4.5-5 percent in 2016-2020 and 4-4.5 percent in 2021-2030.

Husbandry will be prioritised to create breakthroughs in agricultural development.

In industry, Dak Lak will focus on industrial production using modern, environmentally friendly technologies, along with the support industry to serve agriculture.

The province will utilise its localities’ advantages and develop spearhead industries with high competitiveness and high added value, serving both domestic and foreign markets.

Industrial production is expected to grow by 10-11 percent annually during 2016-2020, hitting 65-66 trillion VND (2.86 billion-2.9 billion USD) in 2020, and 12-13 percent in 2021-2020, according to the plan.

Dak Lak will specialise in exploiting and processing farm produce, yarn, construction materials, manufacturing mechanics, electricity, water and support industry.

The service sector is also projected to expand by 11-12 percent in 2016-2020 and 12-12.5 percent in 2021-2030, making up 39-40 percent of the total GRDP in 2020 and 34-35 percent in 2030.

The plan also set the average growth rate of retail sales and service revenue at 18.5 percent annually between 2016-2020 and 17 percent in 2021-2030.

The province will improve the quality of financial, banking, transport, post, telecommunications and consultation services, and scientific-technological transfer.

It aims to welcome more than 1.1 million visitors by 2020, including 103,000 foreigners, and more than 2.8 million in 2030, including 256,000 foreigners.

The local tourism sector is expected to expand by 15.05 percent in 2016-2020, and 16.5 percent in 2021-2030.-VNA