State budget revenue surges over 28% in H1

Vietnam’s state budget revenue reached approximately 1,332.3 trillion VND (over 51 billion USD) in the first six months of 2025, equivalent to 67.7% of the year’s estimate and marking a year-on-year increase of 28.3%, the Ministry of Finance announced on July 10.

Domestic revenue accounted for 1,158.4 trillion VND, or 69.4% of the yearly estimate, up 33.3% compared to the same period in 2024.

Revenue from import-export activities was estimated at 148.7 trillion VND, fulfilling 63.3% of the target and rising 6.5% over the same period last year.

The ministry attributed the growth to stronger tax and customs management, an expanded tax base, tighter enforcement, and enhanced coordination between law enforcement forces. It added that digital transformation and IT adoption also boosted revenue collection efficiency.

Regarding spending, total state budget expenditure in the first half of the year reached 1,102.1 trillion VND (42.4 billion USD), equal to 43.2% of the annual estimate and up 38.5% year-on-year.

The central and local budget balances were maintained. As of June 30, the Government had issued 201.4 trillion VND worth of government bonds, with an average maturity of 9.8 years and an average interest rate of 2.92% per annum.

The ministry also reported that no State-owned enterprises were approved for equitisation or divestment by competent authorities during the period.

Regarding debt and external finance management, the Government’s total debt repayment in the first half of 2025 was approximately 251.4 trillion VND (9.67 billion USD), of which the central budget repaid 239 trillion VND, or about 51% of the quota approved by the National Assembly. The ministry confirmed that debt repayments were made fully and on time in line with commitments and approved plans.

In terms of foreign direct investment (FDI), Vietnam recorded over 21.5 billion USD in newly registered capital, up 32.6% year-on-year and marking the highest first-half figure since 2009. Disbursed capital reached more than 11.7 billion USD, up 8.1%, also the highest level for the January June period from 2021 to 2025.

A total of 1,988 new projects were licensed in the first half, up 21.7% year-on-year, with newly registered capital amounting to nearly 9.3 billion USD. Foreign investors poured capital into 18 out of 21 economic sectors.

The Ministry of Finance said the first-half fiscal and investment results provide a solid foundation for the country to meet this year's development targets and strengthening investor and public confidence./.