Ho Chi Minh City: nine-month budget revenue up 9.88 percent

Ho Chi Minh City has collected VND 269.168 trillion for the budget in the first nine months of 2018, equivalent to 71.44 percent of this year’s plan, up 9.88 percent from the previous year, according to the People's Committee of Ho Chi Minh City.

Ho Chi Minh City (Illustrative image)
Ho Chi Minh City (Illustrative image)

Domestic revenue is estimated at VND 174.431 trillion, an increase of 12.97 percent from the same period last year. The figure was equal to 68.08 percent of the projection for the whole year.

Revenue from crude oil surged 46.53 percent year on year to VND 17.844 trillion, accounting for 141.96 percent of the yearly projection, while import-export activities brought in VND 76.800 trillion, equivalent to 71.11 percent of this year’s plan, down 2.03 percent from a year earlier.

Of the sum, local budget spending was at VND 39.694 trillion, equal to 45.7 percent of the yearly projection and up 8.53 percent compared to the same period last year. Meanwhile, development investment spending was VND 15.073 trillion, or 41.68 percent of the yearly estimate; and regular spending was VND 22.261 trillion, equivalent to 60.99 percent of this year’s plan.

In recent time, Ho Chi Minh City has implemented many policies and measures to create favorable conditions for stabilizing production in order to maintain economic growth and create revenues for the State budget; while the city has also regularly improved the investment environment, the supporting enterprises plans to invest in economic restructuring.