Hanoi, January 3, 2025 – The Europe Today: Prime Minister Phạm Minh Chính has officially approved the Ho Chi Minh City (HCM City) Master Plan for 2021-2030, with a vision extending to 2050. The comprehensive plan sets ambitious targets for economic growth, urban development, and technological advancement, reinforcing the southern economic hub’s role as a key driver of Vietnam’s economy.
The plan projects an average Gross Regional Domestic Product (GRDP) growth rate of 8.5–9.0 percent annually over the next decade. By 2030, HCM City’s per capita GRDP is expected to reach VNĐ385-405 million (approximately $14,800–15,400).
Key Economic Goals
- Sectoral Contributions: The service sector is anticipated to account for over 60 percent of GRDP, with the industrial and construction sectors contributing around 27 percent (including 22 percent from manufacturing). Agro-forestry-fisheries will make up about 0.4 percent.
- Digital Economy: The digital economy is expected to comprise more than 40 percent of the city’s GRDP.
- Labour and Human Development: Labour productivity is targeted to grow by 7 percent annually, with the human development index (HDI) exceeding 0.85 by 2030.
Urban and Population Goals
The city’s population is projected to reach 11 million by 2030 and 14.5 million by 2050, with urbanisation exceeding 90 percent by the decade’s end. Efforts to eradicate poverty based on national criteria and double the city’s poverty threshold are integral to the plan.
Environmental and Agricultural Initiatives
The plan includes the establishment of concentrated agricultural zones and high-tech agricultural areas in the Northwest, Southwest, and Southern localities. A reforestation project will restore 200 hectares of protected forests in Cần Giờ District, which will also host a fisheries hub to support deep processing and port operations.
Industrial and Technological Development
HCM City aims to develop cutting-edge industries such as:
- Design and manufacturing of electronic components, integrated circuits, and chips.
- Advanced batteries, new materials, clean energy, and renewable energy.
- Biochemistry, pharmaceuticals, and semiconductor materials.
Traditional sectors, including footwear, apparel, and furniture, will be restructured to enhance value-added production.
E-commerce and Retail Modernisation
As a future leader in e-commerce within the southeastern region, the city plans to expand retail channels and digitise wholesale supply chains to bolster efficiency and competitiveness.
The master plan reflects HCM City’s commitment to sustainable economic growth, technological innovation, and enhanced living standards, cementing its position as a leading metropolitan area in Southeast Asia.
