Cao Bang Targets Annual GDP Growth at 13.4 Pct in 2025

The Government of Vietnam recently approved the social and economic development plan for Cao Bang province in the period to 2020, with a vision to 2025. Accordingly, the province strives for an average annual GDP growth of 13.8 percent in the period to 2015, 14.2 percent in the 2016-2020 period, and 13.4 percent in the 2021-2025 period.

 

Specifically, by 2025, the economic structure will comprise 33.3 percent of industry and construction, 50 percent of services, and 16.7 percent of agriculture, forestry and fishery. GDP per capita will be US$5,143.

 

The development of trade and service sectors will be associated with the construction planning of industrial zones, new urban zones and tourism zones in order to make comprehensive and sustainable development. Traditional trade development will be combined with investment for the construction of modern trade networks powered by commercial centres and supermarkets. The tourism sector will focus on developing ecological tourism, cultural tourism and pro-community tourism to better utilise and promote available natural resources values.

 

According to the plan, Cao Bang City - the provincial capital - will be oriented to become a modern urban zone and a provincial centre of politics, economy and culture. Ta Lung Townlet will be upgraded and expanded into Ta Lung Town, a fourth-grade urban zone. Nuoc Hai Townlet will be expanded into Hoa An Town. Some border-sharing districts will have more urban zones to create driving force for development.