The Law on Public Debt Management should endorse several legal documents into law and add new content acquired through international experience, Deputy Finance Minister Truong Chi Trung told a workshop in Hanoi on September 21 reviewing five years of its enforcement.
Victoria Kwakwa, Country Director of the World Bank in Vietnam, urged Vietnam to improve its fiscal policy and pledged to provide technical support to the Finance Ministry in public debt management with a view to ensure debt safety and national financial security.
Participants debated ways to create a synchronous legal environment and a set of good practices in lending administration.
Truong Hung Long, Head of the Finance Ministry’s Department of Debt Management and External Finance (DMEF), credited the law with making public debt lending and payment activities more open and transparent.
In late 2014, public debt stood at more than 2.3 trillion VND (104.5 million USD), or 59.6 percent of the gross domestic product (GDP). The figure is predicted to rise to 62.3 percent later this year, which is still below the 65 percent ceiling set by the National Assembly.
The law has also broadened the scale of the domestic bond market from 2.8 percent of GDP in 2001 to 19 percent in 2011 and 21.2 percent in 2014. The government bonds and government-guaranteed bonds market made up nearly 19 percent of GDP last year.
Long pointed out existing flaws related to the debt ceiling, debt management skills and the relationship between debt management and fiscal policy.
He also requested the rights and responsibility of legislative and judicial agencies, ministries, agencies, localities, businesses and public debt users be clarified.
The event was co-hosted by the DMEF and th﷽e WB.-VNA
Vietnam should reduce the level of debt it owes to foreign lenders and increase domestic debt in order to avoid foreign exchange rate-related risks, said the vice chairman of the National Financial Supervisory Committee, Le Xuan Nghia.
Finance Minister Vuong Dinh Hue on Nov. 24 answered National Assembly deputies’ questions, focusing on price and public debt management and business performance of State-owned enterprises.
Dr Tran Kim Chung, Deputy Director of the Central Institute of Economic Management, said in an interview with Nhan Dan (People) newspaper that the effective implementation of the Law on Public Investment would help bring public debt under control.
Deputy Minister of Finance Nguyen Huu Chi and other ministry officials visited Cuba from December 2-7 under a cooperation programme with the Cuban Ministry of Finance and Prices.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Illustrative image (Photo: VNA)
