Viet Nam has made great strides in raising living standards by heavily investing in human development. However, Viet Nam faces the risk of falling into 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.
Building on the outcomes of Viet Nam’s development finance assessment (DFA), the INFF aims to support the country in addressing this risk. At the core of the INFF lies the development and implementation of Viet Nam’s 2030 integrated financing and investment strategy. The strategy will be firmly centred around the SDGs and will integrate considerations surrounding the effects of the COVID-19 pandemic.
The INFF will further support Viet Nam’s 2030 Finance Strategy, Medium-Term Investment Plan and Medium-Term Budget Plan to deliver the following results: (a) strengthened resource allocation for 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.