PM green-lights strategy for industrial development
Vietnam will prioritise the development of its processing, electronics-telecommunication and renewable energy industries, according to a strategy on industrial development to 2025 with a vision to 2035 approved by Prime Minister Nguyen Tan Dung.
The sectors will focus on applying advanced technology, churning out high-quality products of international standard, and joining the global value chain.
More attention will be paid to ensuring energy efficiency, creating competitiveness in international integration, enhancing personnel competence and staying proactive in the researching, designing and production stages.
Industrial production value is expected to record annual growth of at least 12.5% by 2020. Industry and construction will account for 41% of the nation’s economic structure, with more than 90% of products destined for foreign markets.