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Vietnam parliament approves radical government cost-cutting drive

  • Vietnam's parliament approved a major government overhaul, aiming for a 20% reduction in the workforce, affecting about 100,000 civil servants.
  • The restructuring plan includes merging several ministries and abolishing others, aiming for improved efficiency and cost savings.
  • General Secretary To Lam emphasized the importance of the reforms, describing them as essential for efficiency and economic growth.
  • The plan aligns with global cost-cutting measures and aims for an 8% economic growth target this year, despite expected short-term administrative delays.
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Bloomberg broke the news in United States on Tuesday, February 18, 2025.
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