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

Samsung Electro-Mechanics’ latest investment is another strong signal of Vietnam’s increasingly important role in global technology supply chains. The company plans to invest around US$1.85bn in Vietnam to expand production capacity for FCBGA semiconductor packaging substrates, used in high-performance CPUs, GPUs and AI accelerators. The investment is part of Samsung Electro-Mechanics’ broader capacity expansion program […]

Read Newsarrow
news

Vietnam has just joined FTSE Russell’s Emerging Markets indices, bringing expectations of around US$1.5 billion in passive inflows into the market. The first impact is relatively clear. Passive capital follows index weights, so much of that money will naturally concentrate in Vietnam’s largest and most liquid companies, broadly the VN30 universe. But the more interesting […]

Read Newsarrow
news

Vietnam is targeting a much higher economic growth trajectory over the coming years. Supporting that ambition will require a larger and more diversified pool of capital for infrastructure, manufacturing, energy and private sector expansion. Today, Vietnam’s financial system remains heavily bank led, with bank credit equivalent to around 145% of GDP. That makes the development […]

Read Newsarrow
Find out more navigation_button