State budget

State President Nguyen Xuan Phuc has lauded the Ministry of Public Security for ensuring absolute safety for the 13th National Party Congress, and the elections of deputies to the 15th National Assembly and People’s Councils at all levels.

Despite the complex developments of the COVID-19 pandemic, Vietnam’s overall macro-economy remains stable, with encouraging growth seen in industries and a low rise of average consumer price index (CPI).

A webinar on the role of the private economic sector and experience in foreign investment management of Vietnam in Doi Moi (renewal) process took place in Venezuela on June 9.

The budget revenue increased significantly in the first five months of this year thanks to recovery from 2020 and some sectors seeing strong growth, such as banking, securities, real estate and automobile industries, according to the General Department of Taxation.

To achieve the goal of having about 5,000 km of expressways by 2030, the Ministry of Transport has planned to invest in completing a series of expressways in the next 10 years.

To acquire COVID-19 vaccines for people as soon as possible, the Government is encouraging and creating conditions for all capable localities and enterprises to join in the task, Deputy Minister of Health Truong Quoc Cuong said on June 3.

The 2020 Provincial Open Budget Index (POBI) has the average score of 69.09 out of 100 points, up 3.54 points from the previous year, with the Mekong Delta province of Vinh Long topping the rankings.

National Assembly Chairman Vuong Dinh Hue has said voter turnout in the elections of deputies to the 15th NA and People’s Councils at all levels for the 2021-2026 tenure reached 99.57 percent, higher than the figure of over 98 percent in the previous tenure.

The 14th National Assembly (NA) Standing Committee commenced the 56th meeting in Hanoi on May 27 morning, with preliminary results of the general elections among the issues high on the agenda.

The 56th meeting of the National Assembly Standing Committee will take place in Hanoi on May 27, according to a press release issued by the NA Office on May 26.

The disbursement of public investment sourced from the State budget in April was estimated at 30.4 trillion VND (1.32 billion USD), a year-on-year surge of 23.9 percent, and reaching the highest monthly level since 2017, according to the General Statistics Office.

The State budget revenue was estimated at 543.4 trillion VND (over 23.7 billion USD) in the first four months of 2021, equivalent to 40.5 percent of the estimate and up 7.3 percent from a year earlier, said the Ministry of Planning and Investment (MPI).

HCM City is to become a smart urban area, maintain its role as the country’s economic engine, and realise its goal of becoming an economic and financial hub in Asia, experts have said.

The PetroVietnam Exploration Production Corporation (PVEP), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), contributed nearly 2.3 trillion VND (99.8 million USD) to the State budget in the first four months of 2021, or 43 percent higher than the set plan.

Prime Minister Pham Minh Chinh has told the Finance Ministry to reform the mindset on policy building in the direction of mobilizing resources from all sources and using all resources in an effective and economical manner.

Fitch Ratings has revised the outlook for the Vietnam Oil and Gas Group (PetroVietnam) to “positive” from “stable”.

Within the State apparatus of Vietnam, the National Assembly (NA) is the highest representative body of the people and the highest organ of State power of the Socialist Republic of Vietnam.

Prime Minister Nguyen Xuan Phuc ordered the health, tourism and diplomacy sectors to soon study and issue a "vaccine passport" mechanism in order to promote trade and investment while addressing the Government’s regular meeting on March 31.

The State budget revenue in the first quarter totalled 403.7 trillion VND (about 17.5 billion USD), equivalent to 30.1 percent of this year’s target and up 0.3 percent from a year earlier, the Ministry of Finance (MoF) said on March 29.