chevrons

Back to Previous Page

Vietnam to disburse $30 billion of public investment funds this year to tackle virus impact

Vietnam to disburse $30 billion of public investment funds this year to tackle virus impact

HANOI (Reuters) – Vietnam will aim to disburse $30 billion in public investment funds this year, up 67% year-on-year, the government said on Friday, as it seeks to boost an economy hit hard by the coronavirus outbreak that has infected 255 people nationally.

Public investment, excluding investment made by state-owned enterprises, often accounts for around one-fifth of Vietnam’s total investment and is spent on infrastructure and social development projects.

The Southeast Asian country’s gross domestic product in the first quarter of this year grew at its slowest pace in 10 years, at 3.8% due to the pandemic.

Featured image credit: Reuters

Source: Reuters

Related News & Insights
Find out more navigation_button
news

Two recent cases, Becamex IDC and Petrolimex, offer a useful glimpse into Vietnam’s renewed push to improve market structure. The regulatory issue is clear. Public companies are required to have at least 10% of voting shares held by at least 100 non-major shareholders. Becamex currently falls well below this threshold, with only 4.56% of charter […]

Read Newsarrow
news

Samsung Electronics Vietnam Thai Nguyen has become the first company in Vietnam to officially purchase renewable electricity through the Direct Power Purchase Agreement (DPPA) mechanism. Under the agreement, Samsung will purchase solar power generated from the Duc Hue 2 Solar Power Plant in Tay Ninh, which has a designed capacity of 49 MWp. The momentum […]

Read Newsarrow
news

Vietnam officially rolled out E10 gasoline nationwide from June 1, replacing conventional RON95 across the retail network. The change may look technical, but the impact is more meaningful than it first appears. As E10 contains 10% ethanol, every liter sold effectively reduces fossil gasoline demand by around 10%. On a nationwide scale, that is a […]

Read Newsarrow
Find out more navigation_button