Ho Chi Minh City’s GDP growth rate in the 2016-20 period will reach 9.5 - 10 percent per annum.
Such target is prescribed in the plan on socio-economic development during 2016-20 promulgated under Directive No. 20/CT-UBND of August 25 of the People’s Committee of Ho Chi Minh City.
Accordingly, by 2020, the city’s average per-capita GDP will be USD 8,430-8,822. There will no longer be poor households with an annual income of under VND 16 million and basically no households living just above the poverty line with an annual income of under VND 21 million.
The economic restructuring aims to increase shares of services and industry and lowering that of agriculture. By 2020, the service sector will account for 58.16-60.07 percent while the industry-construction sectors will account for 39.19-41.07 percent. The agriculture sector will make up only one percent of the economy.
During the period, the city will implement the breakthrough program in line with three national breakthrough programs for perfection of the socialist-oriented market economy, focusing on the creation of a fairly competitive environment and administrative reform; development of human resources, especially high-quality ones, focusing on basically and comprehensively reforming the national education, closely associating human resource development with scientific and technological development and application; and formulation of complete infrastructure facilities, especially traffic and urban infrastructure system.
The plan also stresses intensifying the natural resources management and environmental protection, response to climate change and disaster prevention and mitigation.-