Vietnam

Brief description

Viet Nam made great strides in raising living standards by heavily investing in human development. However, the key challenge is to avoid the risk of the ‘middle-income trap’, where a country’s growth stagnates after reaching middle-income status due to inefficient allocation of resources, a low-skilled labour force and low levels of innovation. The overall objective of the Joint Programme (JP) is to support Viet Nam’s transformation to a more inclusive, productive, green, and climate resilient economy and accelerate the achievement of the SDGs in order to tackle the current challenges.

Approach

The JP will assist the development and rolling-out of Viet Nam’s 2030 integrated financing and investment strategy, of which the SDGs are at the heart, while considering the impact of the recent pandemic, COVID-19. This will be achieved through supporting Viet Nam’s 2030 Finance Strategy, Medium-Term Investment Plan and Medium-Term Budget Plan to deliver the following expected results: (a) Strengthened resource allocation with the new national Socio-Economic Development Plan and national SDG priorities; (b) Improved effectiveness of public investment through better integration across government; and (c) Increased private sector investment, and quality foreign direct investment flows that support the development of green, productive domestic enterprises.