Barges load up rice for export in Tay Ninh province. (Photo: VNA) The report said the region has become a dynamic development areain recent decades with rapid growth recorded on all fronts including economic,financial, commercial, service, education and job training.
The Southeastern region has been home to a skilled labour forceand one of the country's leaders in science and technology, innovation anddigital transformation.
According to MPI, projected growth for the region was between 6.04%to 8.07% annually for the period.
In scenario 1 or the low-growth scenario, the projected grossregional domestic product (GRDP) growth rate is expected to average 4.92% peryear for the period 2021-2025, and reach an average of 7.18% per year forthe period 2026-2030. Overall for the period, the average growth rate isprojected to be 6.04% per year. For the period 2031-2050, the expected growthrate is around 6.85% per year.
During the period 2021-2030, the contribution of total factorproductivity (TFP) to growth is estimated to be 46.8%; labour productivity growthis expected to average 5.4% per year. The projected average per capita incomeis around 200 million VND (8,200 USD) by 2025, 315 million VND (11,800 USD) by2030, and 833 million VND (38,500 USD) by 2050.
An estimated investment capital of around 11.4 quadrillion VNDwill be needed during the period 2021-2030, which is 2.1 times the amountrequired during 2011-2020. The investment-to-GRDP ratio at current prices isexpected to be around 27%.
In scenario 2 or the medium-growth scenario, the projected GRDPgrowth rate is expected to average 5.48% per year for the period 2021-2025, andreach an average of 8.66% per year for the period 2026-2030. Overall for theperiod, the average growth rate is forecast to be 7.06% per year. For theperiod 2031-2050, the expected growth rate is around 7.2% per year.
During 2021-2030, the contribution of total factor productivity(TFP) to growth is estimated to be 50.9%; labor productivity growth is expectedto average 6.4% per year. The projected average per capita income is around 205million VND (8,400 USD) by 2025, 345 million VND (13,000 USD) by 2030, and 1billion VND (38,500 USD) by 2050.
An estimated investment capital of around 12.3 quadrillion VNDwill be needed during 2021-2030, which is 2.3 times the amount required during2011-2020. The investment-to-GRDP ratio at current prices is expected to bearound 28%.
In scenario 3 or the high-growth scenario, the projected GRDPgrowth rate is expected to average 5.97% per year for the period 2021-2025 and10.2% per year for the period 2026-2030. Overall for the period, the average growthrate is projected to be 8.07% per year. For the period 2031-2050, the expectedgrowth rate is around 7.6% per year.
During the period 2021-30, the contribution of total factorproductivity (TFP) to growth is estimated to be 58.5%; labour productivity growthis expected to average 7.4% per year. The projected average per capita incomeis around 210 million VND (8,600 USD) by 2025, 380 million VND (14,500 USD)by 2030, and 1.2 billion VND (53,000 USD) by 2050.
An estimated investment capital of around 15.8 quadrillion VNDwill be needed during the period 2021-2030, which is three times theamount required during 2011-2020. The investment-to-GRDP ratio at current pricesis expected to be around 32%.
The projection was made based on a number of input variables suchas economic, trade, and investment growth, demographic changes, social issues,climate change, the impact of the Fourth Industrial Revolution and Vietnam'sdevelopmental strategy.
The institute said the region has been and is to play a crucialrole in the country's next socio-economic development phase. In 2022, theregion's GRDP accounted for about 31 % of Vietnam's GDP with exports at 35% andregional budget at 38%./.
VNA
