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Economy

Vietnam to boost Ho Chi Minh budget for first time in 18 years

Engine of the economy to get a lift to help country deal with COVID impact

Vietnam's commercial hub of Ho Chi Minh City is in line to receive increased financial support from the national budget as authorities seek to boost its economy. (Photo by Toyoaki Fujiwara)

HANOI -- Vietnam plans to provide Ho Chi Minh City with increased financial support to boost the southern commercial hub's economy to help the country cope with the effects of the coronavirus pandemic.

The central government is preparing to approve a new 10-year plan to take effect from next year that will allocate an increased budget to the metropolis to entice more foreign investment.

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