Brian Jeffrey
The Prime Minister is pushing for the issuance of bonds worth around 100 trillion VND (equivalent to over $4 billion) to fund crucial infrastructure projects amid assessments of positive accomplishments in macroeconomic stability, growth, inflation control, and fiscal equilibrium during the first eight months of 2024.
Recognizing progress made towards achieving 15 key economic and social targets for the year, the government is focused on overcoming persistent challenges and advancing its development agenda.
Measures include enhancing revenue collection, tightening expenditures, adopting electronic invoicing from cash registers, improving public investment disbursement, tackling project execution delays, and promoting innovation and technology adoption, with a clear emphasis on driving economic expansion in 2024 and 2025.
The State Bank of Vietnam has been tasked with stabilizing the exchange rate, reducing lending rates, enhancing credit accessibility, and targeting a 15% credit growth rate. Priority sectors for investment encompass high-tech industries, green transition, digital and circular economies, and key infrastructure projects like railway development to link with China and the high-speed North-South railway.
Instructions have been given to the Ministry of Natural Resources and Environment to streamline administrative procedures associated with land use, address land pricing and project implementation issues, finalize administrative restructuring, and develop a semiconductor industry strategy by year-end.
Amid economic and infrastructural challenges, Vietnam’s government remains dedicated to fostering sustainable growth by maximizing all available resources to attain long-term developmental objectives.
