Vietnamese legislative and auditing agencies scored a respective 61 and 75 points on a 100-point scale in terms of budget oversight, as announced in the 2015 Open Budget Index (OBI).
Vietnamese legislative and auditing agencies scored a respective 61 and 75 points on a 100-point scale in terms of budget oversight, as announced in the 2015 Open Budget Index (OBI) by the International Budget Partnership (IBP).
Budget oversight measures the capacity and authority of formal institutions (such as legislatures and supreme audit institutions) to understand and influence how public resources are being raised and spent.
The OBI results indicate that the monitoring of budget plan development in Vietnam is adequate yet budget implementation remains limited.
Currently, the National Assembly Budget and Finance Committee acts as the legislative agency of Vietnam, yet there is no separate budget research and analysis sectors in line with international practices.
Vietnam scored only 18 out of 100 points in the OBI in terms of budget transparency – which measures the amount, level of detail and timeliness of budget information governments.
Compared to regional countries, the level of budget transparency in Vietnam is higher than that of China, Cambodia and Myanmar but is much lower than that of other Southeast Asian countries such as the Philippines, Indonesia, Malaysia and Thailand. The global average is 45 point.
In 2012, Vietnam scored 19 out of 100 points in the field.
Regarding budget participation, which reflects opportunities governments are providing to civil society and the general public to engage in decisions about how public resources are raised and spent, Vietnam posted 42 out of 100 points, higher than the global average of 25 points and above that of regional nations such as China, Thailand, Indonesia and Malaysia.
To increase the budget transparency, the IBP suggested Vietnam announce the Government’s budget proposal as well as the extent of the audit report within six months and no later than 18 months after the end of the fiscal year.
In addition, Vietnam should implement and publish evaluation reports on mid-year budgets.
The International Budget Partnership’s Open Budget Survey (OBS) is the world’s only independent, comparable measure of budget transparency, participation and oversight.
The 2015 OBS evaluates 102 countries from around the world and measures three aspects of how governments are managing public finances for its OBI rankings.-VNA
Experience in budget decision, examination and oversight have been shared among representatives from Vietnam, Laos, Cambodia and Myanmar during the 6th joint workshop in Da Nang on August 17.
Vietnam’s macro-economy has successfully been kept stable and recovery remained on track during the first eight months of 2015, despite complicated global economic fluctuations, a ministry reported.
Vietnam recorded positive changes in almost all fields in the first eight months of this year with its macro-economy remaining stable, economic development staying on track, business climate improved.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative Image (Photo:cafef.vn)
