Vietnam’s public debt sees significant drop: finance ministry
Vietnam’s public debt in the 2017-2021 period decreased dramatically from 61.4% of its GDP to 43.1%, according to the Ministry of Finance.
Specifically, government debt, government-guaranteed debt and local government debt dropped from 51.7%, 9.1%, and 1.1% of GDP in 2017 to 39.1%, 3.8% and 0.6% in 2021, respectively.
The country's foreign debt also decreased to 38.4% of GDP by the end of 2021 compared to 49% in 2017.
As of 2021, Vietnam's obligation of foreign debt repayment on total exports last year was 6.2%, while the government's debt repayment obligation compared to state budget revenue was about 21.8%.
Notably, foreign debt decreased while domestic debt increased. By the end of 2021, foreign debt was about VND1,075 trillion ($45.9 billion), while domestic debt rose to more than VND2,200 trillion, accounting for 67.2% of outstanding government debt.
The Ministry of Finance's report showed that by 2021, Vietnam's largest bilateral creditor was Japan with more than VND316 trillion ($13.5 billion), followed by South Korea (VND32 trillion), France (VND30 trillion) and Germany (VND14 trillion).
Meanwhile, the World Bank was the biggest multilateral lender of Vietnam with over VND380 trillion, followed by the Asian Development Bank (ADB) with VND188 trillion.
In April, Deputy Prime Minister Le Minh Khai signed a decision approving the public debt strategy until 2030, which sets a target of keeping it at under 60% of GDP and government debt not exceeding 50% of GDP in 2030.
Liquidity in the townhouse and villa segment, once feverishly high in both Hanoi and Ho Chi Minh City, has been drying up in recent months.
Real Estate - Sat, October 1, 2022 | 9:50 am GTM+7
American energy corporation AES has received in-principle approval from the Ministry of Industry and Trade for its VND50,432 billion ($2.11 billion) Son My 2 LNG-to-power project in the south-central province of Binh Thuan.
Energy - Fri, September 30, 2022 | 9:24 pm GTM+7
Coro Energy has completed commissioning of its Vietnam rooftop solar pilot project, the UK-based energy firm announced Friday.
Energy - Fri, September 30, 2022 | 6:59 pm GTM+7
Vietnam’s benchmark VN-Index reversed a consecutive five session decline with a six-point gain Friday to close at 1,132 points.
Finance - Fri, September 30, 2022 | 6:30 pm GTM+7
The industrial and logistics market in Ho Chi Minh City, Dong Nai, Binh Duong, Long An, and Ba Ria-Vung Tau will continue to grow in 2022-2023 thanks to Vietnam’s resilient economic expansion, according to Cushman and Wakefield.
Real Estate - Fri, September 30, 2022 | 3:32 pm GTM+7
Building a Vietnam bonded warehouse for U.S. cotton would benefit both countries, Vietnam Textile and Apparel Association (Vinatas) chairman Vu Duc Giang said Friday.
Industries - Fri, September 30, 2022 | 3:19 pm GTM+7
Thailand's Central Retail is seeking opportunities to build malls and supermarkets in Binh Thuan province.
Industries - Fri, September 30, 2022 | 3:05 pm GTM+7
Invest Global, an investment consultancy under the Vietnam Association of Foreign-Invested Enterprises (VAFIE), and a delegation of 15 Indian businesses have signed an agreement on boosting investment cooperation between the two countries.
Industries - Fri, September 30, 2022 | 8:05 am GTM+7
Vietnam’s benchmark VN-Index dropped 17.55 points Thursday to 1,126.07, despite newly-released data showing the country’s nine-month GDP growth hitting 8.83%, a record high in 12 years.
Finance - Thu, September 29, 2022 | 5:18 pm GTM+7
Hoa Phat Group has begun production at its new home appliance factory worth VND1,000 billion ($42 million) in Ha Nam province.
Industries - Thu, September 29, 2022 | 4:28 pm GTM+7
The U.S., EU, China and South Korea imported nearly $27 billion worth of phones and components from Vietnam in the first eight months of the year, according to the Ministry of Industry and Trade.
Economy - Thu, September 29, 2022 | 4:06 pm GTM+7
The northern port city of Hai Phong seeks to build 15 more industrial parks totaling 6,200 hectares to attract $15 billion in foreign direct investment in 2020-2025.
Industries - Thu, September 29, 2022 | 3:13 pm GTM+7