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Vietnam Aims for Double-Digit Growth with Integrated Efforts; Ministry of Finance Pushes Reforms
Vietnam's Ministry of Finance is pushing for institutional improvements, enhanced budget execution, administrative reforms, and a better business environment to achieve its double-digit growth target in the first year of its term. Export promotion and foreign investment attraction are also being strengthened to maximize economic growth.
The Ministry of Finance of Vietnam is spearheading comprehensive reforms to unlock the full potential of economic growth, aiming to achieve an ambitious double-digit growth target in the first year of its term. To meet this objective, the Ministry will focus on further refining institutions, enhancing budget execution capabilities, streamlining administrative procedures, and continuously improving the business environment. These measures are designed to invigorate the domestic economy and boost investment. Export promotion is particularly highlighted as a key driver of economic growth, with the aim of increasing competitiveness in the international market and improving foreign exchange earnings. The attraction of Foreign Direct Investment (FDI) is also considered an essential element for accelerating economic expansion. The Politburo's Resolution No. 10-NQ/TW on economic development with foreign investment clearly signals the Vietnamese government's commitment to encouraging the introduction of foreign capital and technology. The foundation for these growth strategies lies in maintaining macroeconomic stability. Controlling inflation, ensuring exchange rate stability, and safeguarding fiscal health are deemed prerequisites for achieving sustainable economic growth. By strictly managing these elements, the Ministry of Finance seeks to maintain domestic and international confidence and remain an attractive market for investors. Source: Nhan Dan
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Nhan Dan