Viet Nam's sovereign wealth fund to be established this month: Prime Minister
VGP - Prime Minister Pham Minh Chinh called for establishing a sovereign wealth fund this month while chairing a regular Cabinet meeting in Ha Noi on Saturday.
Prime Minister Pham Minh Chinh (standing) chairs the Cabinet meeting in Ha Noi, December 6, 2025 - Photo: VGP
Over the past few decades, sovereign wealth funds have grown rapidly and become highly influential investors in the global financial system.
These funds typically pursue various objectives, including, fiscal stabilization; reducing budget volatility caused by fluctuations in oil, gas, or other commodity prices; saving for future generations; supporting national economic development via restructuring and developing state-owned enterprises; and enhancing international influence.
Through strategic investments, sovereign wealth funds can build economic–political relationships with global partners.
To help countries overcome economic crises, sovereign wealth funds play an important role in stabilizing markets, supporting troubled financial institutions, and stimulating the economy.
The Prime Minister also said that natural disasters and floods have caused severe impacts in Viet Nam, with preliminary estimated property damage of nearly VND 100 trillion (US$3.8 billion), equivalent to about 0.7–0.8 percent of the nation's GDP in 2025.
In an effort to support people affected by natural disasters, he tasked inferior levels to focus on completing the repair of 34,352 damaged houses by December 31 this year while the construction of 1,628 collapsed houses must be completed by by January 31, 2026./.
