A new circular effective from next month will require bodies operating on state budget in Vietnam to make their spending plans public.

The circular, issued by the Vietnamese Ministry of Finance in June, laid out guidelines on going public with budget spending for bodies that rely on or take subsidies from the state for their operation.

According to the circular, effective on August 1, such agencies will be required to submit estimated figures to their superordinate or financial bodies of the same level.

Budget spending plans must also be posted publicly at the headquarters of these bodies, as well as on their online portals and in local media.

The Ministry of Finance, ministry-level agencies, government bodies and administrations of all levels are tasked with monitoring the process of going public and with taking timely remedial action against any violations in accordance with current laws, the circular read.

Quarterly and biannual budget reports are to be made public within 15 days from the end of the respective quarter and half-year.

Annual reports on the implementation of state budgets must be made known to the public no more than five working days after they are submitted to a body’s immediate superior.

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