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Impacts of Foreign Debt on Vietnam’s Sustainable Development

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2

Author

Listed:
  • Thi Minh Phuong Tong

    (VNU University of Economics and Business
    Vietnam National University)

  • Tran Phuong Lan Vu

    (VNU University of Economics and Business
    Vietnam National University)

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.

Suggested Citation

  • Thi Minh Phuong Tong & Tran Phuong Lan Vu, 2023. "Impacts of Foreign Debt on Vietnam’s Sustainable Development," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, pages 605-623, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0490-7_37
    DOI: 10.1007/978-981-99-0490-7_37
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