Vietnam National Master Plan for 2021-2030 

On January 9, 2023, lawmakers in Vietnam approved a Resolution on National Master Plan for the 2021-2030 period with a vision to 2050, during the National Assembly’s second extraordinary meeting in Hanoi. The Resolution got 449 approvals out of a total of 489 votes. The National Master Plan for 2021-2030 envisages a focus on inclusive, rapid, and sustainable development based on sci-tech, innovation, digital and green transformation, and circular economic development. On January 5, 2023, Minister of Planning and Investment Nguyen Chi Dung presented a report on the National Master Plan for the 2021-2030 period, with a vision to 2050.  According to Dung, the previous master plans have exposed shortcomings as development spaces were divided according to administrative boundaries, along with weak inter-provincial connectivity and a lack of focus on state investment activities. “There was no consistent planning and an effective investment policy to form a national infrastructure framework,” Dung said. The upcoming planning, therefore, is set to address these issues by creating an effective and focused development space to better utilize state resources. According to Minister Dung, the plan laid out five group of key tasks in order to achieve and concretise the socio-economic development strategy for the 2021-2030 period. First, the national development space must be rationally arranged as a unified whole, ensuring intra-regional and inter-regional linkages, maximising comparative advantages of each region, and improving the national competitiveness. Second, it is necessary to have key development perspectives, focusing on some areas with favourable conditions in terms of geographical location, economic-social infrastructure, high-quality human resources, and other potentials to develop locomotive zones and important national growth pillars, creating spillover effects to promote the rapid, effective and sustainable economic development up to 2030. Third, having efficient use of natural resources (land, water, forest and minerals); ensuring energy, food and water security; developing circular and green economy; protecting the environment; and being proactive in preventing natural disasters and response to climate change. Fourth, the plan also orientates the national and region development, economic corridors and urban system spaces must be associated with the development of synchronous and modern infrastructure and the harmonious development of urban and rural areas. Fifth, the national development space must be organized based on land and marine space development. About the targets of the plan, Dung mentioned that the Government anticipates Vietnam to reach an average GDP growth of 7% in the 2021-2030 period and a GDP per capita of $7,500. For the 2031-2050 period, Vietnam should sustain an average growth rate of 6.5-7.5% until 2050, ensuring a GDP per capita of $27,000-32,000, nearly an 8-fold increase against the current level of $4,100 in 2022. The plan targets that Vietnam, by 2030, would become a developing country with a modern industrial sector of upper-middle-income status. By 2050, Vietnam is set to become a developed nation with high income; equitable, democratic and civilised society, Dung remarked.  The plan also envisages that by 2050, urbanisation rate will hit 70-75%. To realize the GDP growth of 7% during the 2021-2030 period, the planning would require VND48,300 trillion ($200.58 billion) in investment capital, tripling the amount of the 2011-2020 period.  The master plan also revealed the necessity to promote key zones serving as the growth engines for the country, including the Hanoi-Haiphong-Quang Ninh in the North, Ho Chi Minh City-Binh Duong-Dong Nai-Ba Ria Vung Tau in the South, Thua Thien Hue-Danang-Quang Nam-Quang Ngai in the Central region, and the Mekong Delta. Until 2030, Vietnam would prioritize the development of economic corridors such as the North-South, and two in the East-West direction of Lao Cai – Hanoi – Haiphong – Quang Ninh and Moc Bai – Ho Chi Minh City – Vung Tau. Hanoi, Ho Chi Minh City, Danang, and Cantho would serve as the cores in each corridor.