Vietnam development assistance disbursement may hit $2 billion

Vietnam’s total disbursement of foreign aids may reach US$2 billion this year as an economic stimulus package boosts domestic businesses, according to a statement on the government’s website.

In the nine months to September, the Southeast Asian nation disbursed about $1.71 billion, equivalent to 90 percent of the full-year target, to help local companies in need of capital, the ministry of planning and investment said in the statement.

Vietnam has put in place tax exemptions and loan subsidies to boost growth, which slowed to 4.6 percent in the January-September period of this year from 6.2 percent in 2008.

thanhnien, Bloomberg

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