HCMC – Vietnam’s public investment disbursement in 2025 reached the highest level in the 2021–2025 period, according to the Ministry of Finance.
For capital carried forward from prior years, disbursement in all of 2025 totaled VND49.5 trillion, equivalent to 74.4% of the plan of over VND66.6 trillion.
For the 2025 plan, total disbursement as of January 31, 2026 amounted to VND858.6 trillion, or 94.8% of the plan assigned by the prime minister (VND905.5 trillion). Of this amount, central budget capital was VND320.4 trillion, equal to 74.5%, while local budget capital reached VND538.3 trillion, or 113.1%.
Compared with 2024, disbursement grew by 3.4 percentage points and by more than VND234.1 trillion in absolute terms.
The Ministry of Finance said overall national disbursement progress as of January 31, 2026, based on commitments by ministries, central agencies and localities, exceeded 2024 levels in both absolute value and ratio. However, the target of 100% disbursement of the assigned plan was not achieved.
Total public investment capital assigned for 2025, including the PM-assigned plan, additional locally balanced capital and carryover from previous years, exceeded VND1,180.9 trillion. Of this, ministries, central agencies and localities allocated VND1,106.0 trillion in detail to projects and tasks. Excluding additional locally balanced capital of VND208.8 trillion, detailed allocation was more than VND897.1 trillion, or 99.1% of the PM-assigned plan.
Unallocated capital was VND8.35 trillion of central budget funds, accounting for 0.9% of the assigned plan.
According to the ministry, 2025 was the final year of the 2021–2025 medium-term public investment period and recorded the largest investment volume of the phase, increasing pressure on disbursement. Natural disasters during the year also caused significant damage to people and construction infrastructure, affecting project implementation.
Based on the PM-assigned plan, 16 ministries and central agencies and 17 localities achieved disbursement rates at or above the national average, while 19 ministries and central agencies and 16 localities recorded below-average rates. Localities with below-average disbursement included Tuyen Quang, Dak Lak, Quang Tri, Can Tho, Lam Dong, Khanh Hoa, Son La, Ca Mau, Danang, An Giang, Vinh Long, HCMC, Quang Ngai, Dien Bien, Lai Chau and Hue.
The ministry said differences in performance occurred despite a common legal framework and the reorganization of the administrative system. To support the 2026 growth target of 10% or higher, the ministry said public investment disbursement must be treated as a key political task from the start of the year, with full allocation of capital plans, monthly and quarterly disbursement schedules, and accountability linked to the performance of heads of agencies and localities.
