Speaking at the event, Dung stated that the portal has been built in reference to advanced models from around the world and in the interest of Vietnam’s requirements for budget transparency and publicity, towards gradually realising the commitments of the Government and the Ministry of Finance (MOF) to implement transparency and improve accountability in the allocation, management and use of public resources.

Delegates press the button to launch the open budget portal on August 26.

For the MOF, the portal will make the process of synthesising open budget reports faster and more accurate, he said, adding that for ministries, central agencies and localities, the portal is expected to help their open budget reporting become simpler and more convenient.

As for citizens, businesses, researchers and organisations at home and abroad, this is a communication channel that will provide the necessary data and information on the issues related to national budget finance, thus contributing to improving budget transparency scores of the country, ministries, central agencies and localities, the minister noted.

“The development and launch of the open budget portal is of great significance, helping to strengthen state budget monitoring and improve accountability regarding the management and use of the state budget, contributing to enhancing fiscal discipline and effectively using state budget resources,” Dung emphasised.

According to Stefanie Stallmeister, Operations Manager for the World Bank in Vietnam, the open budget portal will help to improve the openness, transparency and equitable efficiency of the budget, as well as strengthening macroeconomic management and awareness of risk and accountability in the provision of public services.

Swiss Ambassador to Vietnam Ivo Sieber hailed the portal as a tool that will help Vietnamese agencies and people overcome the challenges posed by Covid-19 in the context of the pandemic forcing governments to face difficult decisions on finance and budgeting.

Public investment from the State budget should focus on disadvantaged areas

The National Assembly (NA)’s Committee for Finance and Budget proposed prioritising public investment sourced from the State budget in the 2021-25 period to disadvantaged areas in the mountainous, border and island localities to shorten development gaps between regions.

Customs contributes record to State budget

Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.

Budget revenue in 2019 exceeds 10 trillion VND mark

(BGO) - In 2019, thanks to strict control of revenue sources and actively handling tax arrears, the State budget collection in Bac Giang province has seen a strong breakthrough. The budget collection result has helped Bac Giang be present in the club of localities with tax revenue of 10 trillion VND (443.7 million USD).

Businesses develop, budget revenue increases

(BGO) – Bac Giang province is now home to thousands of operating businesses. Among them are many excellent production and business units that have well fulfilled tax duties and been commended and rewarded by the tax sector for many consecutive years.

Budget collection hits nearly 518 trillion VND in four months

Nearly 518 trillion VND (22.23 billion USD) was collected towards the state budget in this year’s first four months, completing 36.7 percent of the yearly target and representing a year-on-year rise of 13.9 percent, reported the Ministry of Finance.

Source: NDO