Vietnam updates state budget regulations for technology and innovation

Vietnam's Ministry of Finance has issued Circular No. 123/2026/TT-BTC to amend and supplement the State Budget Index System regulations.

The update introduces a specific category (code 100) for science, technology, innovation, and digital transformation. This category is designed to account for both investment and recurrent expenditures related to these sectors. However, the regulation explicitly excludes state budget expenditures for administrative management by the Ministry of Science and Technology or local departments, as well as spending on higher education, vocational training, and the procurement of office equipment for civil servants.

Additionally, the circular amends the regulations for economic activities (code 280). This category covers expenditures intended to support production and business in sectors such as agriculture, forestry, irrigation, fisheries, industry, digital technology, tourism, and natural resources. It excludes expenditures related to state management activities.