Vietnam Allocates VNĐ5.6 Trillion for Disaster Relief, Targets 8% Q4 Growth
Vietnam's government has allocated substantial funds to aid localities affected by natural disasters, with nearly VNĐ3.1 trillion for disaster impact mitigation and VNĐ2.52 trillion to 15 localities hit by Typhoon Boloi and other disasters. Meanwhile, Prime Minister Phạm Minh Chính has emphasized maintaining macroeconomic stability while aiming for an 8% economic growth rate in the fourth quarter of 2025.
The government's financial support comes as Vietnam continues to recover from recent typhoons and other natural disasters. The allocated funds will help localities repair infrastructure, restore livelihoods, and rebuild communities.
In pursuit of the ambitious 8% growth target, Prime Minister Chính may consider various measures to stimulate the economy. These could include investing in infrastructure projects to boost economic activity and create jobs, supporting small and medium enterprises to enhance their competitiveness, and implementing temporary tax incentives to stimulate business growth. Additionally, promoting exports and increasing public spending in strategic sectors could further drive growth.
Vietnam's economy has shown remarkable resilience and growth in recent months. The third quarter saw a GDP growth rate of 8.22%, the highest in over a decade. This strong performance has been recognized by international organizations, which praise Vietnam's growth amid global uncertainty. The nine-month average GDP growth stood at 7.84%, with six localities achieving growth rates of 10% or higher. Foreign direct investment inflows remained robust, with $28.5 billion in registered capital and $18.8 billion disbursed.
The government's disaster relief funding and the Prime Minister's growth targets indicate a commitment to supporting Vietnam's recovery and continued economic progress. With a strong third quarter and robust investment inflows, Vietnam is well-positioned to achieve its growth objectives, provided that macroeconomic stability is maintained and appropriate measures are implemented.
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