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
VIETNAM ECONOMY INVESTMENT
CHINESE INVESTORS SEEK INVESTMENT OPPORTUNITIES IN BAC NINH
Many Chinese investors are accelerating their plans to expand investment and increase their presence in Bac Ninh by proposing new projects in key sectors such as high technology, electronics, AI, and digital infrastructure. Several large enterprises are also encouraging long-term investment plans in the locality. In late May, a delegation of Chinese enterprises met the province’s leadership to discuss policies related to energy storage, AI computing infrastructure, power supply capacity and industrial park resources.
TECHNOLOGY
VIETNAM POSTS SECOND-HIGHEST AI ADOPTION IN SOUTHEAST ASIA
Microsoft noted that AI adoption in Vietnam has increased stably from 21.2 per cent in the first half of 2025 to 26.5 per cent in the first quarter of 2026. In Southeast Asia, Vietnam trails behind Singapore at 63.4 per cent. Meanwhile, Vietnam outperformed most Southeast Asian peers in AI adoption, including Malaysia (21.8 per cent), the Philippines (20.1 per cent), and Thailand (12.4 per cent).
TECHNOLOGY
VIETNAM AIMS FOR 10 STRATEGIC TECH FIRMS WORTH $1 BILLION BY 2030
The plan, unveiled on June 17, seeks to drive the development of digital infrastructure, workers, data, strategic technologies, and cybersecurity during the 2026-2030 period. Under the scheme, large-scale strategic technology companies must meet several criteria simultaneously, including annual revenue of at least $1 billion and an average workforce of no fewer than 5,000 employees.
MEMBER CORNER / PROMOTIONS
LG INNOTEK EXPANDS SEMICONDUCTOR INVESTMENT IN VIETNAM
Vietnam continues to strengthen its position as a preferred destination for high-tech manufacturing investment. Most recently, LG Innotek signed an investment agreement with Hai Phong City to develop a new semiconductor substrate manufacturing facility, marking the company's first semiconductor substrate production project in Vietnam.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
HCMC APPROVES MAJOR PROJECTS WORTH VND155 TRILLION
The HCMC People’s Council has approved a series of major transport and urban redevelopment projects under public-private partnership (PPP), with preliminary investment estimated at nearly VND155 trillion. Resolutions passed at the closing session of the council’s third meeting for the 2021-2026 term on June 19 included two flagship transport projects.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
CAN THO EYES TRANSFORMATION INTO A MODERN INTERNATIONAL LOGISTICS HUB
With its extensively expanded economic space, Can Tho now possesses a range of strategic advantages, including an extensive road transport network with both north-south and east-west expressways; an inland waterway transport system; an international airport; a network of ports along the Hau River; a large concentration of industrial parks and agricultural and seafood processing facilities; and connectivity to the Mekong development corridor.
Events Sponsors
