Streamlining the apparatus, operating stably
Implementing the policy of streamlining the administrative apparatus, the State Treasury system (KBNN) has completed the reorganization according to the two-level model from March 15, 2025. The total number of units decreased from 1,047 to 582, equivalent to a decrease of 44%. The rearrangement is associated with the issuance of regulations on functions and tasks, data transfer, technical infrastructure consolidation and completion of business processes according to the new model.
From the time of conversion, the entire system has been operating stably, without interrupting transactions with budget-using units. The regional KBNN continues to ensure good coordination with local financial agencies in the operation and service of transactions through the application of information technology.
In the first 6 months of the year, the State Bank of Vietnam has completed the consultation on the issuance of Decree No. 14/2025/ND-CP on amending the State Treasury Management Mechanism (STM), and at the same time developed guiding circulars and risk management procedures. The operation of NQNN is carried out centrally and consistently, ensuring timely budget payment needs, while rationally using idle temporary capital in accordance with regulations.
Total regular expenditure by May 31, 2025 reached VND 484,489 billion, equivalent to 38.2% of the estimate, an increase of more than VND 28,500 billion over the same period in 2024. Accumulated disbursement of public investment capital by June 10, 2025 reached more than 201.439 billion VND, equal to 28.2% of the plan assigned by the Prime Minister. Of which, the planned capital in 2025 will reach VND 190,183 billion, down 1.5 percentage points over the same period last year, the capital extended from the previous year is VND 11,255 billion, equal to 19.6% of the transferred plan.
Flexible bond issuance, promoting digital transformation
As of the end of May 2025, the KBNN has issued VND 170,917 billion in government bonds (TPCP), reaching 34.2% of the annual plan. The average issuance term is 9.95 years, the average interest rate is 2.9%/year. The management of TPCP issuance volume and interest rates is carried out flexibly, closely following the market and the central budget's principal payment plan. The total volume of maturing principal and interest on collateral in the first 6 months of the year was more than VND 137,786 billion, which was paid on time, contributing to strengthening the national financial reputation.
Along with administrative reform, the State Bank of Vietnam promotes the modernization of information technology. Key projects such as upgrading the TABMIS system, developing an electronic document archives, connecting data sharing between systems in the financial industry and piloting automatic personal income tax refunds continue to be implemented. The online public service system operates stably, serving 100% of budget-using units.
Regarding budget collection, the State Audit Office closely coordinates with the collection agency, ensuring quick coordination and timely accounting. By the end of May 2025, total balanced revenue reached VND 1,152,435 billion, equivalent to 58.6% of the annual estimate, up 26.7% over the same period in 2024. Accounting, payment and state financial reporting work continue to be seriously implemented, effectively supporting budget management.
In the last 6 months of the year, the KBNN will continue to improve institutions, strictly manage the budget, speed up the disbursement of public investment capital and implement key projects on digital transformation and administrative reform, contributing to the financial sector in completing the 2025 target.
