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By 2030, HCM City hopes to become the economic center of Southeast Asia

By 2030, Hanoi is to be the nation’s digitization leader and the region’s economic hub, according to a resolution that Politburo released on Friday.

The Politburo assessed the 2010โ€“2020 period’s implementation of development goals at the meeting, which was presided over by Party General Secretary Nguyn Ph Trng, and set new targets for 2030 with an eye toward 2045.

HCM City’s economy grew by 2.7 times between 2010 and 2020, while its GRDP (Gross Regional Development Product) doubled. The city kept changing its growth strategy, with the development based on the uses of science and technology. Its focus on high-tech manufacturing, services, and agriculture indicated that its transition in economic structure was on the correct track.

Additionally, the annual state budget collection exceeded expectations.

Along with providing social welfare and enhancing people’s quality of life, the city also saw great developments in other domains, including science, technology, education and training, health, culture, and sports.

Despite the successes, Politburo also noted some drawbacks, such as low competitiveness, slower economic growth than in the previous quarter, the investment environment’s delayed improvement, and the failure to meet the per capita income target.

In accordance with the recently passed resolution, HCM City was mandated to modernize by 2030, taking the lead in the nation’s digitalization and becoming an economic, financial, commerce, science and technology, and cultural hub of Southeast Asia in eight years. It will develop into a major city, a global destination, and an economic, financial, and service center of Asia.

Additionally, it aimed to improve productivity and global competitiveness while bolstering connections for regional development in order to achieve rapid and sustained economic growth.

Additionally, HCM City is anticipated to quicken infrastructure-building initiatives and raise planning standards while promoting sustainable growth and climate change adaptation.

In order for the city to grow swiftly and sustainably, it must also efficiently mobilize all available resources, take advantage of available advantages, and pay attention to culture, society, education and training, people’s health, and quality of life.

Districts in suburbs are not upgraded

The People’s Committee of HCM City has asked its suburban districts not to apply to become urban districts, stating that doing so could result in rising land prices that would make it more difficult to acquire property for the construction of infrastructure in the future.

Five districts have planned to become cities before 2030: C Chi, Bnh Chรกnh, Cn Gi, Nhร  Bรจ, and Hรณc Mรดn.

At the end of October of this year, there were 8.9 million people living in HCM City, which has a total area of more than 2,060 square meters. There are 22 districts there, including one (Thc) that has grown into a city, 16 urban districts, and 5 suburban districts.

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