Ho Chi Minh City (VNA) – Building on a record-high budget revenue performance in 2025, Ho Chi Minh City has set a more ambitious target of nearly 1 quadrillion VND (38.5 trillion USD) in State budget revenue in 2026.
According to the municipal Department of Finance, total State budget revenue collected in the city in January 2026 reached an estimated 105.082 trillion VND, equivalent to about 13% of the annual estimate and up more than 10% year on year.
Notably, the continued implementation of tax and fee exemptions and reductions has proven effective in supporting investment as well as production and business activities, thereby creating room for growth in budget revenue sources. As a result, many key taxes in January met or exceeded the average monthly collection pace set by the city People’s Council.
Specifically, corporate income tax revenue was estimated at 42.264 trillion VND, fulfilling 30.2% of the annual target, value-added tax reached 16.501 trillion VND, or 11.3%, and special consumption tax stood at 4.177 trillion VND, equivalent to 10.9%. Other revenue items, including dividends, shared profits, lottery proceeds, and fees, also posted double-digit growth compared to the same period last year.
By contrast, land-related revenues such as land-use fees and land rents remained low against estimates, reflecting the cautious development of the real estate market in the early months of the year.
For 2026, the State budget revenue estimate assigned to Ho Chi Minh City was set at 804.775 trillion VND for the first time. Based on the record revenue of 800.043 trillion VND in 2025, the municipal People’s Committee issued Decision No. 63/QD-UBND on January 1, 2026, adjusting the city’s revenue and expenditure estimates for 2026.
Accordingly, the city’s budget revenue target was revised up to 807.526 trillion VND, accounting for nearly 30% of the national budget revenue estimate for 2026. Of the total, domestic revenue is projected at 591.426 trillion VND, equivalent to 26.9% of the national domestic revenue estimate, while crude oil revenue is expected to reach 39.5 trillion VND and import-export revenue 176.5 trillion VND.
Speaking at a socio-economic conference on February 4, Chairman of the municipal People’s Committee Nguyen Van Duoc said that to create momentum for double-digit economic growth, the city aims to raise budget revenue by about 20%, bringing the total close to 1 quadrillion VND in 2026.
City leaders acknowledged that the target is challenging but achievable if comprehensive and resolute measures are implemented from the start of the year. Relevant departments, particularly finance, tax and customs authorities, have been tasked with developing concrete plans for budget collection.
A key solution highlighted is accelerating the processing of approved investment projects, including disbursement, site clearance, environmental impact assessments and land allocation. This would generate initial land-related revenues while enabling businesses to enter production and operations quickly, forming sustainable tax sources.
The city also called for full use of special mechanisms under National Assembly resolutions to shorten administrative procedures, remove long-standing bottlenecks in project implementation and support strategic projects./.
