EU and Germany support Vietnam in strengthening public finances

ABO/NDO- A project worth 14 million EUR on strengthening Vietnam’s public finance management funded by the European Union and Germany is expected help reduce poverty and promote sustainable growth in Vietnam.

A 14-million-euro project on strengthening Vietnam’s public finance management funded by the European Union and Germany is expected help reduce poverty and promote sustainable growth in Vietnam.

The meeting of the project's steering committee. (Photo: Germany Embassy in Hanoi).

Speaking at a meeting of the project’s steering committee on January 17, Deputy Minister of Finance Nguyen Duc Chi stated that the project is an important step in the implementation of Vietnam’s national financial strategy during the 2021-2030 period.

For his part, EU Ambassador Giorgio Aliberti pledged to continue supporting sustainable and inclusive growth in Vietnam and enhancing economic management, including public finances.

He expects that the project will help stabilise Vietnam’s macroeconomy and strengthen the government’s capacity to implement economic and financial policies.

With an implementation period of 66 months, the project will improve state budget management and revenue forecasting; enhance management of public debt; and enhance tax environment and revenue mobilisation.

(Source: NDO)