Vietnam spent VND45.6 trillion (nearly US$2 billion) from its budget on pandemic prevention and control and supporting people who face difficulties due to COVID-19, as of October 15, according to the Ministry of Finance.

It is necessary to build an economic stimulus package that is big enough to ensure economic recovery and social security, Chairman of National Assembly (NA)'s Committee for Finance and Budget Nguyen Phu Cuong said on October 20.

The outbreak of COVID-19 in many localities has delayed the equitisation of State-owned enterprises (SOEs), according to Dang Quyet Tien, director of the Corporate Finance Department.

The Vietnam Oil and Gas Group (PetroVietnam) has surpassed important business and financial targets set for the first nine months of 2021, with its contribution to the State budget fulfiling the yearly plan.

The Vietnam Social Security (VSS) will exert every effort to provide the fastest and most convenient support for pandemic-hit employees and employers who are beneficiaries from the Government’s new support package sourced from the unemployment insurance fund, VSS Deputy Director General Le Hung Son.

The Vietnam – Russia oil and gas joint venture Vietsovpetro is likely to complete all of its yearly targets in revenue, profit and State budget payment right in September thanks to comprehensive and effective measures to promote production.

Finance Minister Ho Duc Phoc has affirmed that the State budget is enough for expenditures planned by the National Assembly (NA) and the Prime Minister.

The Politburo listened to the Party delegation to the Government’s reports on the 2021 socio-economic performance, the 2022 socio-economic development plan, the 2021 State budget, the 2022-2024 finance-State budget plan, and the time for salary reform, during a meeting in Hanoi on September 17.

The PetroVietnam Exploration Production Corporation (PVEP), has surpassed all of its business goals, with the contribution to the State Budget 7% higher than the year’s plan.

The Vietnam Oil and Gas Group (PetroVietnam) reported that its pre-tax profit in the first eight months of the year surpassed the set plan by 177% and tripled the figure for the same period last year, reaching VND30.2 trillion (US$1.32 billion).