Vietnam's National Assembly on Wednesday approved raising the economic growth target for this year and also voted in favour of major infrastructure projects, including the country's first nuclear power plants and a rail link to China.

HO CHI MINH CITY] Vietnam’s parliament on Wednesday (Feb 19) has voted to revise the official growth target of the country’s 2025 gross domestic product to at least 8 per cent, from the 6.5 to 7 per cent approved last November.

On the morning of February 19, the National Assembly passed a resolution supplementing Vietnam’s 2025 economic and social development plan, setting an ambitious target of at least 8% GDP growth.

Vietnam's National Assembly will on Wednesday vote to approve a new economic growth target for this year and adopt resolutions supporting major infrastructure projects, including nuclear power plants and a rail link to China.

HANOI: Vietnam's parliament on Wednesday (Feb 19) approved plans for an US$8 billion rail link from its largest northern port city to the border with China, boosting links between the two communist-ruled countries and making trade easier.

With ambitious economic goals, the government is focusing on public investment, exports, and institutional reforms while navigating global uncertainties.

Vietnam will officially revise up its gross domestic product growth target for 2025 to at least 8.0% from 6.5%-7.0%, driven by stronger industrial manufacturing, Minister of Planning and Investment Nguyen Chi Dung said on Wednesday.

Vietnam's National Assembly will on Tuesday approve a bold bureaucratic reform plan that will slash up to a fifth of government bodies, as it tries to cut costs and improve administrative efficiency.

Vietnam will cut one in five public sector jobs and slash billions of dollars from government budgets, after the country's rubber-stamp parliament on Tuesday gave the go-ahead to a radical streamlining drive.

It is one of two railway lines to China that Vietnam plans as part of its ‘Two Corridors, One Belt’ initiative.