Accelerating the development of the private sector and expanding domestic private finance are key priorities for Việt Nam to meet the financial requirements of the Sustainable Development Goals (SDGs), a United Nations Development Programme (UNDP) report launched yesterday reveals. According to the report, Việt Nam’s Foreign Direct Investment (FDI) and remittance inflows have remained high compared to other ASEAN countries while Official Development Assistance (ODA) is declining. Government revenue is not increasing fast enough to sustain the high level of public investment needed to meet increasing spending obligations and rising public debt. Haoliang Xu, Assistant Secretary General of the United Nations and director of the UNDP’s Regional Bureau for Asia and Pacific, proposed enhancing tax collection, State asset management and introducing property and environmental taxes and integrated national financing framework for SDGs. .

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