Post by : Shakul

The Government of Vietnam has issued new directives and policies on April 15, 2026, focusing on budget allocation and socio-economic development, particularly in rural and disadvantaged regions.

The decision, signed by Deputy Prime Minister Nguyen Van Thang, outlines principles and criteria for allocating central government budget funds for the 2026–2030 period, targeting sustainable poverty reduction and rural development.

The policy emphasizes prioritizing the highest level of financial support for disadvantaged communes, ethnic minority regions, mountainous areas, border zones, and islands. The aim is to create balanced socio-economic growth and improve living conditions in these regions.

The framework ensures that budget allocation remains focused, efficient, and sustainable, while maintaining unified management across policies, objectives, and funding mechanisms at both central and local levels.

The central government will provide financial support mainly to localities that rely significantly on national budget allocations, especially those receiving 70 percent or more of their funding from the central budget. Meanwhile, financially stable regions are expected to manage their own resources.

The policy also introduces clear criteria for distributing funds based on the number of disadvantaged villages and communes, as well as priority levels determined by local financial dependency. This structured approach aims to ensure fair and effective resource distribution.

In addition, local governments are required to allocate counterpart funding and mobilize additional resources to implement development programs effectively, ensuring that national goals are achieved without duplication of efforts.

Separately, Prime Minister Le Minh Hung approved the election results for key leadership positions in Hung Yen province, appointing Nguyen Manh Quyen as Chairman and confirming several Vice Chairpersons for the 2026–2031 term.

Overall, these directives reflect Vietnam’s commitment to strengthening governance, promoting inclusive growth, and accelerating rural and regional development over the coming years.

#Economic News #Policy #Vietnam #Development #Asia #Regional