The country battled runaway inflation and a widening trade deficit for much of the year by tightening monetary policy and curbing lending, but officials have become increasingly worried that the global credit crisis could drag down growth.
The investment plan, outlined in a report about a cabinet meeting, came one day after the government revealed what will be the central bank's fourth benchmark interest rate cut in six weeks, to take effect on Friday.
'The focus is now on immediate measures to prevent an economic slowdown and a stagnant production and business environment,' the government report quoted Minister of the Government Office Nguyen Xuan Phuc as saying.
