GDP per capita to reach 5,500 USD in northern key economic area

The Ministry of Planning and Investment on June 25 announced an overall socio-economic development plan by 2020 of the northern key economic region, in which GDP per capita is targeted at 5,500 USD, the Saigon Giai phong daily reported.
The Ministry of Planning and Investment on June 25 announced an overallsocio-economic development plan by 2020 of the northern key economicregion, in which GDP per capita is targeted at 5,500 USD, the Saigon Giaiphong daily reported.

The plan was approved by the Prime Minister in January this year with visions until 2030.

Thearea consists of two sub-regions, namely an urban zone including Hanoiand the provinces of Vinh Phuc, Bac Ninh, Hung Yen and Hai Duong, and acoastal zone encompassing Hai Phong city and Quang Ninh province.

Hanoi will be developed into a financial and banking center at international level.

Underthe plan, by 2020, agro-aqua-forestry sector will account for 5.5percent of GDP while industry and construction will occupy 49 percent.It is determined to hit 45.4 percent for services.

The area’s export value will account for 32 percent of the country’s total.

Withregard to culture and social affairs, it is expected to have 80-85percent of workers trained, annually cut down the rate of poorhouseholds by 2 percent and reach 80 percent of communes meetingnational standards regarding health services.

In terms ofservices and tourism development, the economic area prioritisesspiritual cultural tourism and will accelerate services exports, upgradeinfrastructure and create a healthy business environment along withstrengthening finance-banking services with the focus on turning Hanoiinto a prestigious finance-banking centre meeting internationalstandards.

The region pays heed to developing industries ofstrength and capable of integrating into the global value supply such asinformation technology, telecommunications, machine manufacturing,shipbuilding, garment and textiles, among others.

Industries with high technology and low emissions, and the industrialisation of agriculture are also now a top priority.-VNA

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