HCMC – Vietnam has reallocated over VND7.3 trillion from its 2024 central budget to accelerate public investment disbursement, adjusting funds among government agencies and localities to support priority projects.
Deputy Prime Minister Nguyen Hoa Binh has signed a decision reducing the allocated budgets of 20 ministries and central and local agencies and redistributing the money to 12 other units. The Government aims to ensure that budgeted projects meet readiness requirements and can disburse funds promptly.
An additional budget cut of VND1.13 trillion will affect four ministries and provinces, with funds reallocated to the Ministry of Health and 13 localities for specific projects. The Government has directed local authorities to prioritize essential public investment projects, focusing on critical infrastructure, including highways and transport connections to airports and seaports, to stimulate regional economic growth.
Ministries and localities are required to ensure compliance with public investment and state budget laws. They must take full responsibility for managing the reallocated funds, from disbursement to final settlement.
