Vietnam adjusts GDP target for 68 to grow by 8%, greenlights construction of railway linking China and first nuclear power plant

“Vietnam” adjusts GDP target for 68 to grow by 8%, expects inflation to be between 4.5-5%, greenlights construction of railway linking China and first nuclear power plant

On February 19, 2568, Nikkei Asia reported that Vietnam's National Assembly approved an revised economic growth target for 2568 and also voted to approve key infrastructure projects, including the country's first nuclear power plant and a railway connection project to China.

Members of parliament approved a new growth target of at least 8% for 2568, as proposed by the government, up from the previous target of 6.5% to 7%. The government stated in a report to parliament that “even with faster economic growth, overall economic stability must be guaranteed, and inflation must remain under control.” The report indicated that inflation is projected to be between 4.5% and 5% this year.

The national parliament has passed a resolution supporting the construction of a new railway line connecting key ports in northern Vietnam with China. The project is expected to cost $8.3 billion, partly funded by a loan from the Chinese government.

Vietnam, a regional manufacturing hub heavily reliant on exports for economic growth, is attempting to increase investment in infrastructure to stimulate development. Parliamentarians approved a policy to develop nuclear power plants, with the first scheduled for construction by the end of 2574. Under this policy, the government can appoint contractors for construction without a bidding process.

Congress approved rules that will allow Elon Musk's Starlink to provide satellite internet services domestically while maintaining full ownership of its local subsidiary. The bill also supports plans to provide financial support to local companies entering the semiconductor industry.

Reference: asia.nikkei.com

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