Industry development strategy passed

The strategy targets to mobilize all resources from domestic and foreign economic components to develop and restructure industry towards modernization; generate industrial resources; prioritize competitive areas, namely agro-forestry and fishery manufacturing, electronics, telecom, new and innovative energy, mechanic manufacture, and chemicals.

The strategy aims to raise growth rate of industrial production value to 12.5-13% per year by 2020.

By 2035, industry and construction would account for 40-41% of the economic structure. Value of high-tech products would make up around 45% of total GDP by 2025. The figure would touch over 50% by 2025.

On this occasion, the PM also ratified a master plan on industrial development by 2020 with a vision towards 2030.

Under the master plan, electronics and IT become the driving force for the development of other sectors.

Garments, textiles and footwear sector would be modernized and specialized to make breakthroughs in terms of quality. By 2020, the sector would occupy 10-12% of industrial structure and meet 90-95% of domestic demands.

According to the master plan, the Northern Mountains Region develops mining exploitation and manufacture, processing of agro-forestry products, hydro-electric industry and metallurgy.

Mechanic industry, metallurgy, chemicals, thermo-electricity, and high-tech industry are aimed to flourish in the Red River Region.

The Central Coast Region focuses on production of building materials, aquatic processing, shipbuilding, metallurgy and sea-borne transport.

The Central Highlands Region centers on the processing of industrial plants, mining exploitation and manufacture, and production of building materials.

The Southeast Region develops mechanic industry, petroleum, petrochemical industry, high-tech industry and auxiliary industry.

The Mekong Delta Region has set to pay attention to export-oriented agro-fishery production, mechanic industry in favor of agricultural development, shipbuilding and repair for off-shore fishing vessels./.