Vietnam eyes construction projects for pump priming

Vietnam eyes construction projects for pump priming

The government will lend most of its proposed US$1 billion economic stimulus package to feasible construction projects, Tuoi Tre newspaper has reported, quoting Minister of Planning and Investment Vo Hong Phuc.

The loans may focus on low-income housing, student lodgings and electricity plants, Phuc said, according to the newspaper. The investment would help boost production of building materials, create more jobs and increase domestic consumption, all of which are showing signs of a slowdown, he said. Source: Bloomberg