Impacts of Foreign Debt on Vietnam’s Sustainable Development

Thi Minh Phuong Tong () and Tran Phuong Lan Vu
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Thi Minh Phuong Tong: VNU University of Economics and Business
Tran Phuong Lan Vu: VNU University of Economics and Business

A chapter in Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, 2023, pp 605-623 from Springer

Abstract: Abstract In Vietnam, foreign debt can play various important roles, including meeting the capital needs of the economy, strengthening legal institutions to establish infrastructure (national key projects, economic zones, etc.), creating an important premise in attracting foreign investment capital, promoting domestic resource mobilization, expanding international cooperation relationships, improving domestic production capacity to collect taxes and other incomes, improving law enforcement capacity, and maintaining stable political situation and national security. In addition, external debt, if being well controlled and used, will support different sustainable development goals, such as social equity, poverty alleviation nationwide and ensuring other social security goals (education, health, and cultural life), environmental management, climate change, protection of biodiversity, human rights (protection and empowerment of women and children, people with disabilities, minorities). This study outlines the impacts of external debt on the sustainable development of Vietnam and its extent in economic, legal, social, and environmental aspects. Furthermore, it will propose recommendations to improve the efficiency of using external debt to realize sustainable development goals.

Keywords: External debt; Sustainable development; Vietnam (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-0490-7_37

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DOI: 10.1007/978-981-99-0490-7_37

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