Service sector set to record 7-8% growth rate over next decade
VOV.VN - The Vietnamese service sector is striving to achieve a growth rate of 7-8 % during the 2021 to 2030 period, higher than the national economy’s average growth rate, and aiming to account for 50% of GDP by 2030.
The sector have moved steps to grow faster than the average rate of the national economy and constitute 60% of GDP during the 2030-2050 period as part of a strategy on the development of the service sector for 2021-2030, with a vision to 2050.
The strategy focusses on revamping institutions, boosting the service sector in a more transparent, efficient, and competitive manner, and accelerating the restructuring of the sector amid the fourth Industrial Revolution.
It places importance on knowledge-intensive and competitive services including distribution, tourism, IT, finance-banking, logistics, education and training, and healthcare. Tourism service centers will be set up for the purpose of producing high-quality and competitive tourism products imprinted with national and cultural identity.
Domestic and foreign economic sectors will be mobilized to upgrade and build modern infrastructure and technical facilities in favor of service development.
In addition, State budget will be spent primarily on modernization and upgrading key infrastructure sites namely transport, airports, seaports, telecom, tourism, finance, and banking.
The strategy is also aimed at opening service markets in accordance with Vietnam’s international commitments.