Vietnam’s 7-month budget revenue surges 27.4%, fueled by trade boom
On July 6, Prime Minister Pham Minh Chinh issued a dispatch pushing for a 20% state budget revenue increase over 2025 projections, urging the Finance Ministry to tighten tax enforcement and tap e-commerce, food services and emerging economic areas for revenue growth.
Hanoi (VNA) - Vietnam’s state budget revenue soared to over 1,572 trillion VND (60.4 billion USD) in the first seven months of 2025, hitting 79.9% of the annual target and jumping 27.4% year🤡-on-year, the Ministry of Finance reported.
Domestic revenue reached 1,363.5 trillion VND, up 31.6% annually and meeting 81.7% of the yearly goal. Of 34 provinces, 24 exceeded 68% of their targets, while 33 reported year-on-year growth.
Export-import revenue rose 9.7% to 179.5 trillion VND, achieving 76.4% of the estimate, while crude oil revenue slumped 17.2% to 28.5 trillion VND, hitting just 53.5% of projection.
A 16.2% surge in total trade turnover to 470.6 billion USD by July 15 fueled the export-import gains, with taxable goods trade up 4.8%. Key contributors included a 6.7% rise in imported raw materials, machinery and spare parts, adding 11.7 trillion VND to the state budget, and a 41.8% jump in whole-unit car imports, boosting revenue by 7.9 trillion VND.
On July 6, Prime Minister Pham Minh Chinh issued a dispatch pushing for a 20% revenue increase over 2025 projections, urging the Finance Ministry to tighten tax enforcement and tap e-commerce, food services and emerging economic areas for revenue growth. The ministry is accelerating digital tax management, rolling out electronic invoicing, and leveraging technology for automated oversight.
The ministry also plans to streamline tax procedures and offer targeted relief to support business recovery./.
Vietnam’s tax sector reported state budget revenue of over 1 quadrillion VND in the first five months of 2025, equivalent to 58.5% of this year's estimate and representing a year-on-year increase of 28.6%
According to the department, 130 foreign suppliers, including Google and Facebook, have registered, declared, and paid taxes through the electronic tax portal for foreign providers, contributing a total of 2.91 trillion VND (114 million USD).
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
