Business

Hanoi posts 9.5% rise in state budget revenue in first two months

Domestic revenue continued to hold the largest part, 184.8 trillion VND, or 30.3% of the annual plan, up 8.8% year-on-year, local authorities reported.

Hanoi collected 190.6 trillion VND for the state budget in the first two month of 2026. (Illustrative photo: VNA)
Hanoi collected 190.6 trillion VND for the state budget in the first two month of 2026. (Illustrative photo: VNA)

Hanoi (VNA) – State budget revenue in Hanoi reached 190.6 trillion VND (7.27 billion USD) between January and February, equivalent to 29.3% of the annual target and representing a year-on-year increase of 9.5%.

Domestic revenue continued to hold the largest part, 184.8 trillion VND, or 30.3% of the annual plan, up 8.8% year-on-year, local authorities reported.

Several key sources recorded robust growth. Non-State enterprises contributed 52.1 trillion VND, achieving 36.6% of its annual target and surging 33.4% annually. Land-use fee collections reached 26.6 trillion VND, equal to 32.1% of the target and up 22.6%.

Foreign-invested enterprises generated 10.3 trillion VND, fulfilling 24.5% of the target and rising 27.6%, while State-owned firms contributed 21.3 trillion VND, or 25.6% of the plan, up 7.2%. Personal income tax collections stood at 12.3 trillion VND, equivalent to 17.7% of the annual plan and marking a 4.4% increase.

Total local budget expenditure in the first two months was estimated at 23.1 trillion VND, achieving 9.8% of the annual plan and climbing 66.8% compared with the same period last year.

Recurrent expenditure reached 14.3 trillion VND, or 17.8% of this year's target, up 28.8%. Notably, development investment spending amounted to 8.671 trillion VND, just 6.9% of the annual plan but more than triple the figure recorded a year earlier, statistics show.

The strong revenue performance not only ensures funding for routine expenditures and social welfare programmes but also provides momentum for the capital to advance two major projects in the coming period, namely the Red River landscape boulevard and the Olympic sports urban area.

Looking ahead, amid a global and domestic environment marked by both opportunities and challenges, Hanoi has set a 2026 state budget revenue target of approximately 546.93 trillion VND.

To this end, it plans to continue nurturing sustainable revenue sources, intensify administrative reform, remove obstacles for businesses and rigorously streamline expenditure, particularly recurrent spending./.

VNA
#Hanoi state budget revenue #Hanoi growth #Hanoi #state budget revenue #state budget Ha Noi
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