Biological industry development overall plan approved

The PM has ratified the biological industry development overall plan till 2030.

Accordingly, the plan aims to mobilize resources for biological industry development, renew mechanisms and policies, take advantages of international cooperation and assistance, facilitate businesses to invest and produce items from the biological industry to make it become a crucial economic-technical sector, promoting economic development, serving for social security, protecting the sustainable development and ensuring national security and defense.

It aims to increase the number of businesses operating in the industry by 20% by 2025 and 50% by 2030 and raising the contribution of the industry to the GDP to 5% by 2025 and 7% by 2030.

Businesses operating in the biological industry will be encouraged to make products in the three main sectors of agriculture-forestry-aquaculture, pharmacy and environmental protection.

Source VGP