Vietnam Charts Course for 2026: Balancing Growth and Stability
On February 8, 2026, Vietnam’s Prime Minister signed Official Dispatch No. 12, outlining key missions and solutions for monetary and fiscal policy in the coming year. This directive signals a continued focus on navigating economic challenges while prioritizing sustainable growth.
Expansionary Fiscal Policy to Fuel Growth
The directive emphasizes an “appropriate, targeted and prioritized” expansionary fiscal policy. This approach aims to leverage budgetary flexibility to support economic growth, coordinating closely with monetary policy and other macroeconomic strategies. The goal is to maintain growth momentum while safeguarding macroeconomic stability, controlling inflation, and ensuring overall economic balance.
This expansionary approach comes as Vietnam seeks to strengthen its budgetary policy to stimulate long-term growth. The government is focused on efficient resource allocation and maximizing the impact of public spending.
Proactive Monetary Policy to Manage Inflation
The State Bank of Vietnam (SBV) is tasked with implementing a proactive, flexible, and timely monetary policy. This includes close monitoring of inflation, exchange rates, interest rates, and liquidity. Adjustments to monetary policy instruments will be made based on the evolving macroeconomic situation and established objectives.
Credit growth will be managed at an “appropriate level,” with transparent public reporting and adjustments made in response to macroeconomic conditions and market developments. The SBV will also continue to oversee the safety of operations within the credit institution system.
Boosting Trade and Investment
The Ministry of Industry and Trade will focus on promoting trade, diversifying markets, and stimulating exports. A key priority is ensuring energy security and preventing shortages of electricity and fuel. Accelerating the disbursement of public investment, particularly for key national projects, is also a critical component of the plan, with a target of 100% disbursement of the public investment plan assigned by the Prime Minister.
Vietnamese banks are already demonstrating strong financial performance, establishing record contributions to the state budget, which will support these initiatives.
Coordination and Implementation
The Ministry of Finance, the SBV, and other relevant ministries and agencies are responsible for rigorously, comprehensively, and effectively implementing the assigned missions outlined in Official Dispatch No. 53, issued on January 30, 2026. This dispatch followed the second meeting of the Government Steering Committee for macroeconomic management.
Frequently Asked Questions
What is the main goal of Vietnam’s 2026 economic policy?
The primary goal is to balance economic growth with macroeconomic stability, controlling inflation and ensuring overall economic equilibrium.
What role will the State Bank of Vietnam play?
The SBV will implement a proactive monetary policy, closely monitoring key economic indicators and adjusting instruments as needed.
How will public investment be utilized?
Public investment will be accelerated, particularly for key national projects, with a target of 100% disbursement of the allocated plan.
What is the focus of the Ministry of Industry and Trade?
The ministry will prioritize trade promotion, market diversification, export stimulation, and ensuring energy security.
Did you understand? Vietnam is actively working to strengthen its economic resilience in the face of global uncertainties.
Pro Tip: Staying informed about Vietnam’s economic policies is crucial for businesses and investors looking to capitalize on growth opportunities.
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