High-rise apartment buildings in District 2, HCM City. — VNA/VNS Photo

HÀ NỘI — Prime Minister Phạm Minh Chính has signed a decision officially approving the HCM City Master Plan for 2021-30, with a vision to 2050.

Accordingly, the southern economic hub aims for an average GRDP growth rate of 8.5 – 9.0 per cent annually within the ten-year period. By 2030, its per capita GRDP at current prices is projected to reach VNĐ385-405 million, equivalent to $14,800-15,400.

Key economic targets include maintaining the service sector’s share of GRDP at above 60 per cent, the industrial and construction sector around 27 per cent (with manufacturing contributing 22 per cent), and agro-forestry-fisheries approximately 0.4 per cent. The digital economy, meanwhile, is expected to account for over 40 per cent of GRDP.

The city population is estimated at 11 million by 2030 and 14.5 million by 2050. Labour productivity growth is targeted at 7 per cent annually, with its human development index (HDI) exceeding 0.85.

Urbanisation is set to surpass 90 per cent by 2030. Efforts will focus on doubling the city’s poverty threshold relative to the national standard and eradicating poverty based on national criteria by the decade’s end.

The plan notes the formation of concentrated agricultural zones and high-tech agricultural areas in HCM City's Northwest, Southwest, and Southern localities. It also includes the reforestation of some 200 hectares in Cần Giờ District’s protected forests and the development of a fisheries hub there to support deep processing and port operations.

The city plans to advance core industries such as design and manufacturing of electronic components, integrated circuits, flexible electronics, chips, advanced batteries, new materials, clean energy, and renewable energy, along with biochemistry, pharmaceuticals, and semiconductor materials production. Additionally, existing sectors, including footwear, apparel, and furniture, will undergo restructuring to increase value-added output.

Also poised to become a leading e-commerce hub in the southeastern region, HCM City plans to enhance retail channels while professionalising and digitising wholesale supply chains. — VNS