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
KNIC ENGAGES WITH GOVERNMENT AND HIGH-TECH BUSINESS COMMUNITIES IN CHINA
From Beijing to Shandong, KN Holdings and KN Industrial City are continuing to expand their engagement with government authorities, trade promotion organizations, and high-tech business communities in China. In Beijing, the delegation met with the Center for International Economic and Technological Cooperation under the Ministry of Industry and Information Technology (MIIT), exchanging perspectives on industrial and technology cooperation between the two markets.
VIETNAM ECONOMY INVESTMENT
VIETNAM’S TRADE TOPS $825 BILLION BY MID-SEPTEMBER
Figures released on September 21 showed goods trade reached nearly $55 billion in the first 15 days of September alone, bringing cumulative turnover since the beginning of the year to more than $825 billion. The strong growth reflects robust trade flows, with demand for consumer goods and production inputs remaining high.
TECHNOLOGY
VIỆT NAM'S BUSINESSES MOVE TOWARDS AI AGENTS
Việt Nam’s AI landscape is entering a new phase as businesses move beyond generative AI (GenAI) tools designed to assist human users towards autonomous AI, agentic AI and AI agents that can take action with limited supervision, experts have said. The shift comes as Việt Nam seeks to accelerate science and technology, innovation and digital transformation under Politburo Resolution 57-NQ/TW, issued on December 22, 2024.
GARMENT / TEXTILE
VIỆT NAM TARGETS $48 BILLION IN TEXTILE-GARMENT EXPORTS
Việt Nam’s textile and garment industry is facing both opportunities and challenges amid complex and unpredictable developments in the global market, prompting businesses to improve growth quality, optimise production costs and enhance adaptability in pursuit of an export turnover of about $48 billion this year. The target is considered an important milestone that requires concerted efforts from management agencies and the business community.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
CUTTING LOGISTICS COSTS KEY TO BOOSTING EXPORTS
Reducing costs has become an increasingly urgent priority for import-export activities, particularly logistics costs, a conference in Hà Nội was told on Tuesday. According to Deputy General Director of the Ministry of Industry and Trade's Agency for Foreign Trade, Trần Thanh Hải, import-export activities has remained a bright spot for the economy in recent years, playing an important role and helping drive macroeconomic growth.
LEGAL UPDATE / POLICY
FLEXIBLE FISCAL POLICY HELPS DRIVE ECONOMIC GROWTH
Việt Nam’s fiscal policy has been implemented in a targeted expansionary manner since early 2026, helping maintain macroeconomic stability and supporting the country’s goal of achieving double-digit economic growth. According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at VNĐ2.02 quadrillion (US$77.7 billion), equivalent to 80 per cent of the annual estimate and up 16 per cent year-on-year.
Events Sponsors
