Vietnam Sets Target for Biotech Development to Contribute 7% to GDP by 2030

This was announced in the recently signed Resolution No. 36-NQ/TW by General Secretary Nguyen Phu Trong on behalf of the Politburo. 

The resolution recognizes biotechnology as a crucial force in driving the country's economic growth, ensuring social security and improving the standard of living.

The government aims to exploit the country's biodiversity and invest in key fields to turn biotechnology into an important economic-technical sector. 

The resolution emphasizes the role of enterprises, especially the private sector, in developing the biological industry and sets a target of 50% growth in investment and scale for bio-industrial enterprises by 2030.

The resolution also states that the country aims to reach a world-class level in biotechnology by 2030, and become one of the top 10 countries in Asia in terms of information production and biotechnology invention. 

The widespread application of biotechnology in various industries and fields is expected to drive fast and sustainable socio-economic development.

To achieve these targets, the government plans to create favorable conditions and policies to attract investment in the biological industry. 

The resolution underlines the importance of the development of biotechnology in the new era and recognizes it as a priority solution in socio-economic development.

The Vietnamese government is taking a proactive approach to developing the biotechnology industry and utilizing it to drive the country's economic growth. The ambitious targets set in the resolution show a clear commitment to the development of biotechnology and its potential to contribute significantly to the country's GDP by 2030.

Source: Tai Chinh Doanh Nghiep