HCM City’s State budget collection up 2.9 percent in January - Illustrative image (Photo: VNA) HCM City (VNA) - State budget collections in Ho Chi Minh City in January were estimated at42.47 trillion VND (1.84 billion USD), 11.6 percent of the estimate and up 2.9percent year-on-year, according to the municipal Statistics Office.
Domestic budget collections declined 3.5 percent year-on-year to 31.27trillion VND, accounting for 73.6 percent of the total.
Revenue from crude oil totalled800 billion VND, down 55.5 percent.
Notably, revenue fromexports and imports surged 47.2 percent annually to 10.4 trillion VND. Theincrease is linked to good growth of the city’s import-export activities in theperiod, at 46.9 percent year on year.
State-owned enterprises contributed over 2.96 trillion VND to the State budget,making up 11 percent of domestic collections, up 4.3 percent year-on-year. Contributionsfrom private enterprises fell 8.5 percent to over 9.8 trillion VND, while thatfrom foreign-invested enterprises was over 9.4 trillion VND, down 3.1 percent.
Pham Thi Hong Ha, Director of the municipal Department of Finance, said that thefinance sector will focus on measures to manage and increase revenues, and speedup equitization and divestment of State-owned enterprises in line with theapproved plan.
Attention will be paid to removing difficulties facing enterprises andindividuals affected by the COVID-19 pandemic to help them recover their productionand business as soon as possible, towards increasing sustainable State budgetrevenue, she added.
According to Deputy Director of the municipal Tax Department Nguyen Nam Binh,the city’s tax sector set a target to collect at least 25 percent of the yearlybudget collection estimate right in the first quarter of 2021./.
VNA
