Vietnam’s southern region is to become a science and technology and innovation, high-end industry, logistics, and international financial center under plans for the 2021-2030 period with a vision to 2050.

Under the general planning for the region, it is also targeted to develop into a dynamic region with high economic growth.

The Development Strategy Institute at the Ministry of Planning and Investment has proposed three development scenarios for the southern region in the 2021-2030 period, which sets an annual growth rate of 6.04 per cent, 7.06 per cent, and 8.07 per cent, respectively.

The region, which includes Ho Chi Minh City and Tay Ninh, Binh Phuoc, Binh Duong, Dong Nai, and Ba Ria-Vung Tau provinces, posted GRDP of VND2.95 quadrillion ($124 billion) last year, accounting for 31.04 per cent of national GDP.