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The government targets GDP per capita by 2030 at about 7,500 USD, equivalent to 190 million VND at the current exchange rate.
This is one of the goals in the Action Program issued by the Government on July 22 to implement Resolution No. 29 of the 13th Party Central Committee on continuing to promote industrialization and modernization of the country by 2030, with a vision to 2045.
According to the World Bank, GDP per capita provides a basic measure of the value of economic output per capita, which is an indirect indicator of per capita income. GDP growth and GDP per capita are widely considered measures of economic growth.
According to the General Statistics Office, GDP per capita in 2023 at current prices is estimated to reach 101.9 million VND, equivalent to 4,284.5 USD, an increase of 160 USD compared to 2022. Thus, this target of the Government increased by 75% compared to last year's results.
This year, S&P Global Ratings forecasts that Vietnam's GDP per capita will reach about 4,500 USD, equal to 60% of the target set for 2030.
Meanwhile, the International Monetary Fund (IMF) forecasts this figure to be 4,620 USD this year, equivalent to more than 117 million VND at the current exchange rate. Compared to 2000, Vietnam's GDP per capita has increased more than 9 times.
Besides GDP per capita, the Government's Action Program sets outtarget an average GDP growth rate of about 7% per year. By the end of this decade, Vietnam will be among the top 3 countries in Southeast Asia in terms of industrial competitiveness.
Accordingly, the proportion of industry reaches over 40% of GDP. Processing and manufacturing industry alone reaches about 30% of GDP and the added value of manufacturing and processing industry per capita reaches over 2,000 USD.
To achieve this, Vietnam aims to establish a number of large-scale industrial corporations and enterprises with international competitiveness in basic, priority and spearhead industries. Along with that, it will build and develop a number of domestic industrial clusters with international competitiveness and master a number of production value chains.
Besides industry, the service sector is expected to account for over 50% of GDP. Of which, tourism alone accounts for 14-15% of GDP.
VN (according to VnExpress)
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