The Vietnamese government is set to implement significant changes to its budget allocation framework for the years 2026-2030, aiming to prioritize major investments and projects deemed pivotal for the nation’s economic and social development. With Vietnam making strides on the international stage, ensuring efficient use of public funds has taken center stage.
During the recent meeting, Minister of Planning and Investment Nguyễn Chí Dũng presented the government’s draft resolution, outlining the key adjustments to the budget allocation strategy. He emphasized the intention to align investments with the new socio-economic development strategy from 2021 to 2030, aiming for sustainable growth.
"Chương trình mục tiêu quốc gia, dự án quan trọng quốc gia, dự án đường cao tốc, dự án đường sắt tốc độ cao... đều cần được ưu tiên," said Dũng, highlighting the significance of specific programs and infrastructure projects. Such focus aims to not only uphold public interest but also facilitate long-term economic vitality across the various sectors of the country.
Yet, these efforts arrive at a time when Vietnam is grappling with the consequences of past expansive and ineffective budgeting practices. The allocation strategies were criticized for being too widespread, or dàn trải, lacking focus and proper rationale. This has hampered the execution of many projects, resulting in delays and wasteful expenditures.
Phó Tổng Kiểm toán nhà nước Trần Minh Khương shed light on these inefficiencies during the meeting, stating, "Cần khắc phục tình trạng phân bổ vốn dàn trải, không hiệu quả." His call for reform signals recognition of the pressing need for the government to minimize fiscal irresponsibility and allocate funds more effectively to maximize the benefits for the nation.
The new draft resolution proposes various criteria to guide budget allocation decisions with the intent to adopt a more targeted approach. Notable among these guidelines will be prioritizing funding for urgent socio-economic projects, including infrastructure developments like highways and rapid transit systems. This move is driven by the perceived need to respond swiftly to the demands of urban growth and economic shifts.
These budgetary reforms are supported by prominent leaders, including Chủ tịch Quốc hội Trần Thanh Mẫn, who stressed the necessity for rational distribution among key sectors. He remarked, "Đảm bảo phân bổ hợp lý giữa các ngành, lĩnh vực quan trọng," signifying the urgency for thoughtful distribution of financial resources going forward.
Minister Dũng’s focus on strategic planning aligns perfectly with Vietnam's overarching socio-economic objectives, showcasing the government’s resolve to navigate uniquely contemporary challenges effectively. Such initiatives are also underpinned by the goal to adapt Vietnam’s economy to fluctuate with global trends whilst uplifting domestic needs.
Looking forward, the proposed guidelines intend to mitigate future misallocation of funds, ensuring resources are channeled where they can make the most significant impact. By establishing clear principles, the government hopes to promote transparency and accountability within its budgetary processes.
The public and local authorities alike will have to wait and see how these proposals materialize and when they will translate to visible changes on the ground. Achieving effective budget allocation will be key for Vietnam to progress sustainably and maintain its appreciated growth status on the global economic scene.
With the draft resolution set to undergo scrutiny from the National Assembly, Vietnam stands at the brink of potentially transformative fiscal strategies. Time will tell if these measures can repair the gaps left by previous funding patterns and propel the nation toward its ambitious developmental goals.