HANOI, Dec 3 (Reuters) - The Vietnamese government pledged about $1 billion to spur investment and consumption as part of efforts to stave off an economic slowdown, it said in a report on Wednesday.
The government also asked the Finance Ministry to produce a list of taxes that could be cut to help business, said the report on the outcome of a two-day cabinet meeting.
Hanoi, which tightened monetary policy earlier this year in the face of soaring inflation, has cut interest rates three times since late October and has announced a fourth cut to take effect on Friday.
It also lowered banks' reserve requirements to try to support economic activity in the face of the global crisis that has already tipped Japan, the United States and the euro zone into recession.
"The government will set aside about $1 billion to boost investment and consumption," a government report said, quoting the results of a cabinet meeting.
It did not give details of how or when the money would be spent, nor where it would come from. (Reporting by John Ruwitch; editing by Neil Fullick)