Capital mobilisation to underpin next growth phase

The capital market is expected to play an increasingly important role in mobilising and allocating mediumand long-term resources for economic development.

- By Khanh Linh

The scale of funding required for Vietnam’s GDP ambitions will be significantly larger than in previous periods, placing greater emphasis on both expanding capital channels and improving the efficiency of capital use, according to Deputy Minister of Finance Nguyen Duc Chi.

Speaking at a workshop on mobilising capital held on March 12 in Hanoi, Chi described the target of maintaining 10 per cent annual GDP growth for the rest of the decade as highly ambitious amid ongoing global and regional volatility, requiring substantial resource mobilisation for development investment over the next five years.

“Despite encouraging results, significant challenges remain. Demand for development investment will be substantial, particularly for strategic infrastructure projects such as north-south transport links and broader regional and international connectivity. Businesses will also require considerable capital to both sustain operations and expand production,” said Chi.

“At the same time, the domestic capital market remains relatively modest in scale, with a limited pool of institutional investors and underdeveloped investment and pension funds, while constraints in attracting foreign indirect investment continue to persist,” he added.

Pham Thi Thanh Tam, deputy director of the Department of Financial Institutions under the Ministry of Finance, said the objectives of achieving high growth while maintaining macroeconomic stability, controlling inflation, and ensuring public debt safety will place considerable pressure on fiscal policy.