Vietnam aims to turn itself into a regional financial hub to rival Hong Kong and Singapore after 2013, according to its minister of planning and investment.
The Vietnamese government is looking to invest VND2.6 quadrillion (USD116.2 billion) over the next five years in projects that will include development of its financial sector, with up to 80 percent of the total coming from private and foreign investment.
Vietnam’s public debt stood at 62.2 percent of gross domestic product at the end of 2015.
The minister, Nguyễn Chí Dũng, said administrative and investment reforms would need to be implemented in order to “pump the financial blood to Hà Nội’s enterprises”.
Source : Viet Nam News
Keyword : Vietnam, Targets, Regional Financial Hub.
