Ho Chi Minh City

HCMC’s budget revenue beyond estimates in 2018

SGGP
State budget revenue in HCMC reached VND378,543 billion (US$16.33 billion) in 2018, accounting for 100.47 percent of estimates and increasing 8.65 percent over the same period last year, reported director of the city Department of Finance Phan Thi Thang yesterday.

HCMC Party Chief Nguyen Thien Nhan gives certificates of merit to representatives of 24 districts for well fulfilling their budget revenue mission in 2018 on January 3 (Photo: SGGP)

HCMC Party Chief Nguyen Thien Nhan gives certificates of merit to representatives of 24 districts for well fulfilling their budget revenue mission in 2018 on January 3 (Photo: SGGP)

She was reporting at a conference hosted by the State Treasury in HCMC and attended by City Party Chief Nguyen Thien Nhan and People’s Committee Chairman Nguyen Thanh Phong.
Of the total, domestic revenue was VND244,772 billion accounting for 96.54 percent estimates, crude oil was VND24,305 billion making up 193.36 percent, export import activities VND108,367 billion accounting for 100.34 percent.
The city’s spending reached VND72,627 billion, accounting for 83.61 percent of estimates.
Stating at the conference, chairman Nguyen Thanh Phong said that in 2018 the central Government assigned the city to achieve a high revenue estimates, which was 17.47 percent higher than 2017. In the end the city has fulfilled the mission thanks to businesses and residents’ efforts to overcome difficulties and stablize production and trading.

In 2019, the central government wants the city to obtain a year on year increase of 7.98 percent in budget revenue to reach VND399,125 billion. Hence, relevant agencies should focus on implementing key solutions to obtain the target.
He hoped that businesses would pay more attention to improving production and management ability and further affirming Vietnamese brand names to contribute more strongly to the city’s growth.
On this occasion, the city People’s Committee granted certificates of merit to 24 districts and 37 businesses for excellently fulfilling their budget revenue missions.
Among the awardees are 13 businesses with tax payment topping VND1 trillion and 24 enterprises paying from VND500 billion to VND1 trillion in taxes.

By KIEU PHONG – Translated by Hai Mien

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