Lao Cai’s 2018 budget collection hits over 8 trillion VND hinh anh 1Foreign tourists at Lao Cai province (Source: VNA)

Lao Cai (VNA)
- Budget collection of the northern mountainous province of Lao Cai in 2018 is estimated at over 8 trillion VND (nearly 342.49 million USD), surpassing the assigned target by 41.7 percent and up 6.3 percent against the previous year, the provincial People’s Committee reported on December 11.

The province’s domestic collection reached 5.6 trillion VND (nearly 239.60 million USD), equivalent to 100 percent of the estimate and representing a year-on-year increase of 8.3 percent.

Meanwhile, import-export activities contributed 2 trillion VND (over 85.5 million USD) to the local budget, up 7.2 percent year-on-year.

Export-import taxes collected at the Lao Cai border gate as of December 10 hit 1.58 trillion VND, up 19.6 percent. The locality’s total export of agricultural products reached 541.7 million USD, rising 259.3 percent.

Vice Chairman of the provincial People’s Committee Nguyen Huu The, Lao Cai has accomplished nearly all socio-economic development goals set for the year.

Its GRDP expanded 10.23 percent in 2018, with agro-forestry-aquaculture recording a growth of 5 percent; industry-construction, up 14.74 percent; and service, up 7.52 percent.

The local economic structure has changed positively, with agro-forestry-aquaculture accounting for only 13.07 percent; industry-construction, 44.29 percent; and services, 42.64 percent. Per capita income reached 60 million VND per year, 7.8 million VND higher than that in 2017.

The results were attributed to the province’s efforts to promote administrative reform, improve the quality of human resources, and fully tap advantages of transport, border economy, industry and tourism.

Lao Cai has set to collect 9 trillion VND for the state budget in 2019, up 12.5 percent compared to 2018.-VNA