HCMC reveals socioeconomic development plan by 2020

Chairman of Ho Chi Minh City People’s Committee Le Hoang Quan chaired a conference to implement the socioeconomic development plan by 2020 with a vision to 2025.

A section of Pham Van Dong Street which has been opened for traffic recently in HCMC. Traffic infrastructure will be a priority in HCMC socio-economic development plan by 2020  (Photo: SGGP)

According to the plan, HCMC targets average economic growth rate of 10-10.5 percent in 2011-2015, 9.5-10 percent in 2016-2020 and 8.5-9 percent in 2021-2025.

The city’s Gross Domestic Product will be 1.5 times higher than the country’s average growth rate in 2011-2020. Economic structure will move to services-industry-agriculture.

Prior projects will include human resource quality improvement, administrative procedure reform, traffic jam and flooding reduction, environment pollution improvement, soft ware development, new rural development and a program to find talents in culture, art and sport fields.

HCMC might have policies suitable with each phase to lure investment capital for implementation of the plan, said Thai Van Re, director of the Planning and Investment Department.

The Department of Planning and Architecture will examine development projects in districts to build a feasible and synchronous implementation plan.

Chairman Quan instructed relevant agencies to give priority to technical and traffic infrastructure projects.

By Nguyen Khoa – Translated by Hai Mien

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