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Investing.com -- Vietnam’s National Assembly approved an increase in the economic growth target for this year. The lawmakers also gave their vote of approval for major infrastructure projects, which include the country’s first nuclear power plants and a rail link to China.
The government proposed a new growth target for 2025 of at least 8%, a rise from the earlier goal of 6.5% to 7.0%. The National Assembly approved this proposal, aiming to boost the country’s economy.
The government, in a report to the parliament, emphasized the need to maintain macroeconomic stability and control inflation amidst this accelerated economic growth.
The report also stated that inflation would be kept between 4.5% and 5.0% this year.
In addition to the growth target, the parliament passed a resolution supporting the construction of a new railway. This railway will link a major seaport in northern Vietnam to China.
The project is projected to cost $8.3 billion, with some of the funding expected to come in the form of loans from the Chinese government.
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