Ho Chi Minh City’s budget collection in 2014 reached 252.1 trillion VND (over 11.8 billion USD), 111.44 percent of the yearly estimate, and 11.4 percent above the 2013 collection, as released at a conference in the city on January 15.

Speaking at the event, which was held to review the state of the city’s financial sector in 2014, Deputy Director of the municipal Department of Finance Tran Nam Trang said relevant agencies enacted a series of measures to achieve the elevated level.

Management and supervision were intensified for import-export tax collection, while administrative reforms in tax and customs fields were also enhanced, noted Trang.

Nguyen Thi Hong, Vice Chairwoman of the municipal People’s Committee, spoke of efforts made by the Department to realise the sector’s 2014 targets, saying that these contributed significantly to the city’s overall socio-economic development.

She also reminded the Department to focus on solutions to handle advance budget loans and recovery capitals to add to the city’s sources for investment and development.

She stressed the necessity of providing increasing support to local businesses to help overcome difficulties and contribute to the State budget.

Hong urged the Department of Finance to team up with the Department of Tax, the Department of Customs, and the State Bank of Vietnam to swiftly and effectively implement the 2015 state budget collection towards achieving the 265.7 trillion VND yearly estimate.-VNA