HCMC in 2020: A Key City in South East Asia

 

In 2006-2010, city GDP will increase 12 per cent a year and by 2010 the economic structure will be service-industry-agriculture. Although the high economic growth rate encourages development of urban areas, culture and social welfare, it also poses three big problems for the city:

 

First, as the economy develops, city population increases by some 200,000 people a year. This causes more serious problems in technical and social infrastructure, especially traffic and pollution.

 

Second, although HCMC has a strong science-technology workforce, and many universities and institutes, its human resources fail to meet labour demand for economic restructuring, regional competition and world economic integration. Though 47 per cent of the workforce has been trained, it remains very low in comparison with the demands of economic development.

 

Third, local urban and economic management falls short of the city’s need for economic regulation, urban planning, land management and environment protection. The efficiency and effectiveness of State management are relatively weak in all areas.

 

To overcome its weaknesses, HCMC has set forth the following solutions:

In economy, the city stresses high added value in service and industry as the foundation for development, focusing on sectors such as mechanics, electronics, ITC, chemistry (pharmaceuticals included), food processing, financing, port service-depot-logistics, trade (export service), science-technology transfer, real estate and tourism.

 

With 12 per cent annual growth over 15 years (2006-2020), the city’s economy will be 5.5 times larger than in 2005. GDP per capita will be US$6,000-7,000 (with a population of 10 million people).

 

In terms of urbanization, the city will become a modern and civilized city, clean and green, suitable for the conditions, rivers and terrain in South Vietnam, an open city connected with new urban areas such as Thu Thiem, South Saigon, Hiep Phuoc port and North-West area.

 

In social consideration, the city will be a model combining economic and social development, reducing poverty and inequality with human development as a mainstay, making the city a centre of high quality education and training and medical service in Vietnam and South East Asia. Education will be upgraded to meet regional standards, with famous foreign branches, attracting foreigners for medical treatment in Vietnam.

 

By 2020, HCMC will be a modern and dynamic city in South East Asia and the Asia Pacific, a highly developed financial and service centre of Vietnam, with additional urban areas in Thu Thiem and along the Saigon River. The city will be connected with the world economy, acting as Vietnam's economic gateway to the world.