Under the National Master Plan for the 2021-2030 period with a vision to 2050, Vietnam is set to become a developing nation with modern industry, high average incomes, and economic growth by 2030, based on science and technology, innovation, and digital transformation.
The index of industrial production in the first quarter continued to flourish with a year-on-year increase of 7.07 percent, the General Statistics Office said.
Despite being affected by COVID-19 in 2020,all three areas of agriculture, forestry and fisheries; industry and construction; services still achieved higher growth rate compared to 2019.
Economic and political reforms under Doi Moi, launched in 1986, have spurred rapid economic growth, transforming what was then one of the world’s poorest nations into a lower middle-income country.
Vietnam’s gross domestic product (GDP) in the first quarter of 2020 is projected to grow 3.82 percent year-on-year,
the lowest pace during the 2011-2020 period.