The Vietnamese PM, in Saudi Arabia for the ASEAN-Gulf Cooperation Council Summit, has requested the wealthy middle east country lend Vietnam funds to build new infrastructure projects including railways and urban infrastructure, VN Express is reporting.
Why it matters: This is inline with Vietnam earlier this week requesting funds from the World Bank for similar projects. Together these two events may indicate that Vietnam is shifting away from using monetary policy to boost the economy to fiscal policy, specifically spending on big infrastructure projects.
See also: PM requests up to US$7 billion for infrastructure projects from World Bank