Vietnam’s industrial development strategy to 2025 and vision to 2035 and the master planning for developing industrial sectors to 2030 are expected to offer a firm foundation for the country to fulfill its target of industrialization and modernization and basically become a modern industrial nation by 2030.

Under the strategy, the proportion of industry and construction is expected to account for 42-43 per cent of the country’s economic structure by 2025.

Growth in industrial added value is targeted at 7.0-7.5 per cent a year during the 2021-2025 period and 7.5-8.0 per cent a year during the 2026-2035 period.

Industrial production value is to grow 11-12.5 per cent a year during the 2021-2025 period.

Industrial product export value is targeted to account for 85-88 per cent of the country’s total export revenue by 2025 and 90 per cent after 2025.

The master planning for developing industrial sectors focuses on some sectors that meet domestic demand and are posting increasing exports, including the mechanical industry; chemicals; electronics and information technology; garments and textiles; agro-forestry and fishery processing; food and beverages; construction material production; mining; electricity; and oil and gas.

In order to successfully implement the strategy and the master planning, the Ministry of Industry and Trade is developing a number of specific strategies and master plans for certain sectors, including national electricity development planning for the 2021-2030 period with a vision to 2045 and the orientation to develop the oil and gas sector.