Want to be in the loop?
subscribe to
our notification
Business News
GOV'T APPROVES FINANCIAL STRATEGY THROUGH 2030
Deputy Prime Minister Le Minh Khai signed Decision No. 368/QD-TTg dated March 21, 2022 approving the financial strategy until 2030.
The overall objective of the strategy is to ensure financial resources for realization of socio-economic, defense and security tasks.
Total revenue from taxes and charges is expected to account for about 13-14 percent in the 2021-2025 period and around 14-15 percent in the subsequent five-year period.
Domestic revenue, excluding revenue from crude oil, is estimated to make up 85-86 percent of total State budget revenues by 2025 and 86-87 percent by 2030.
The Government will strive to lower recurrent expenses to below 60 percent of the State budget expenditures while increasing development expenditures to 29 percent in the 2021-2025 and continue this course in the following years.
The Government will work to gradually reduce budget overspending to 3.7 percent of GDP on average in the 2021-2025 period and down to 3 percent by 2030.
Public debt, Government debt, and foreign debt will not exceed 60 percent, 50 percent, and 50 percent respectively in the 2021-2025 period. By 2030, foreign debt will be brought down to below 45 percent.
The value of stock market capitalization is estimated to reach 100% of GDP by 2025 and 120 percent of GDP by 2030.
The Government targets to develop the insurance market comprehensively to meet diverse demands of individuals and organizations and the sector is expected to account for around 3-3.3 percent of GDP by 2025 and 3.3-3.5 percent by 2030.
Direct expenditures from the State budget to public non-business units will be reduced by 10 percent on average in the 2021-2025 period and 15 percent in the 2026-2030.
To achieve the above goals, the Government will expedite completion of financial institutions, and innovate financial mechanisms and policies in favor of the development of human resource, science and technology, and innovation.
The Government will step up modernization and development of digital financial platforms associated with the process of digital transformation.
It will also mobilize and steer financial resources to infrastructure development and post-COVID pandemic recovery.
Source: VCCI
Related News
MEMBER CORNER / PROMOTIONS
SAFETY IS LIFE – DISCIPLINE IS STRENGTH
At Phuc Vuong, we believe that no project is more important than human life. To us, safety is not just a slogan; it is a vital principle with no exceptions. All these efforts serve one simple goal: to ensure every colleague can work with peace of mind, and every worker returns home safe and sound after every shift. This is our highest commitment and the sustainable foundation that Phuc Vuong always upholds.
MEMBER CORNER / PROMOTIONS
DOING BUSINESS WITH CHINA 2.0
As China continues to evolve into a global powerhouse in innovation, technology, and advanced manufacturing, understanding how to effectively engage with this market has never been more critical. Doing Business with China 2.0 is a flagship executive programme designed to equip business leaders with practical insights, strategic perspectives, and first-hand exposure to navigate China’s rapidly changing landscape.
HOSPITALITY / TOURISM / ENTERTAINMENT
VNAT EYES 25 MILLION FOREIGN VISITORS IN 2026
In the first quarter of the year, international arrivals amounted to 6.7 million, up 12.4% from a year earlier and the highest level on record. Domestic travel reached an estimated 37 million trips, with total tourism revenue at around VND267 trillion. Global developments pose risks. Geopolitical tensions in the Middle East have driven up fuel prices, increasing transport and tourism service costs.
BANKING / FINANCE / INSURANCE / TAX
VIETNAM’S CREDIT TOPS VND19.18 QUADRILLION, FLOWS INTO PRODUCTION SECTORS
Total outstanding loans in Vietnam’s banking system had reached over VND19.18 quadrillion in the year to March 31, up 3.18% against the end of 2025, with lending largely directed toward production and priority sectors, according to the State Bank of Vietnam. Data released at the central bank’s first-quarter press briefing on April 14 showed that several Government-backed lending programs have recorded notable disbursement progress. A credit package for the forestry and fisheries sectors has been expanded sharply, from VND15 trillion to VND185 trillion.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
VIETNAM GETS US$2.64 BILLION FROM SEAFOOD EXPORTS IN Q1
Vietnam’s seafood sector booked around US$927 million in export revenue in March, bringing the total in the first quarter of this year to US$2.64 billion, showed data from the Vietnam Association of Seafood Exporters and Producers (VASEP). China was the primary export market in Q1. Other markets such as the U.S., Japan and South Korea imported less due to weakened consumer spending and stringent technical barriers.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
HCMC SET TO START WORK ON SEVEN MAJOR INFRASTRUCTURE PROJECTS
Ho Chi Minh City plans to simultaneously break ground on seven major infrastructure projects worth a combined VND380 trillion on the occasion of Vietnam’s Reunification Day (April 30). The projects are highly expected to unlock public investment and fuel economic growth. To prepare for the simultaneous launch, relevant departments and authorities have worked to streamline administrative procedures while maintaining legal compliance, with the goal of meeting conditions for groundbreaking on the occasion of the national holiday.
Events Sponsors
