Vietnam Minister Details $8B Demand Stimulus Packages

Minister of Planning and Investment Vo Hong Phuc has announced details of the government's demand stimulus packages, which are worth up to VND143 trillion ($8 billion).

 

The packages are the subsidizing lending program worth VND17 trillion ($1 billion) the government launched in early February, Minister Phuc said.

 

The packages include VND37.2 trillion advanced from state coffer for urgent projects, VND30.2 trillion unspent in 2008, VND20 trillion of g-bonds, VND28 trillion of tax concessions, VND17 trillion of credit guarantees for firms, other demand stimulus packages worth of VND7.2 trillion and VND3.4 trillion for infrastructure projects, Phuc said.

 

The MPI, the government’s think tank, plans to focus on speeding up disbursements of that fund with close scrutiny, Phuc said. (Vietnam Economic Times)