Ho Chi Minh City leads the country in budget revenue, sets higher target in 2025

(NLDO)- This is the first year in history that Ho Chi Minh City is the first and only locality to date to reach over 500,000 billion VND.

On the afternoon of December 31, the Ho Chi Minh City State Treasury held a media conference to "report on state budget revenue and expenditure results in 2024".

The conference was attended by Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai, Vice Chairman of the City People's Committee Nguyen Van Dung and leaders of departments and branches.

Speaking at the conference, Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Dung said that the total state budget revenue in the city is estimated to be VND508,553 billion in 2024, reaching 105.32% of the estimate, up 13.3% compared to 2023.

He said this is the first year in history that Ho Chi Minh City is the first and only locality to date to reach over 500,000 billion VND.

Next year, Ho Chi Minh City will be assigned by the central government a state budget revenue estimate of VND506,670 billion in 2025, accounting for 25.76% of the total revenue estimate of the whole country, an increase of 4.97% compared to the estimate for 2024.

TP HCM dẫn đầu cả nước về thu ngân sách, đặt mục tiêu cao hơn trong năm 2025- Ảnh 1. — Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Dung speaks at the conference

According to the Vice Chairman of the Ho Chi Minh City People's Committee, 2025 is a year of special significance for the city. This is the year of holding Party Congresses at all levels, celebrating many major holidays, and also the year of striving to achieve the highest level of financial and state budget targets for the period 2021-2025, creating favorable conditions for the next period (2026-2030).

The estimated local budget revenue in 2025 is VND 520,089 billion, an increase of 7.71% compared to the estimate in 2024, the estimated local budget expenditure is VND 156,451 billion, an increase of 10.58% compared to the estimate in 2024.

To achieve the targets, the city will synchronously deploy tasks and solutions for socio-economic management, adapt flexibly and creatively, ensuring effectiveness and efficiency in direction and management.

Strengthen the mobilization, allocation and effective use of resources for development investment expenditure; focus on disbursing public investment capital, determined to complete the public investment plan, accelerate the implementation of key projects. Organize and manage budget expenditures closely, economically and effectively, within the assigned budget estimate; only issue policies that increase state budget expenditures when really necessary and with guaranteed resources.

TP HCM dẫn đầu cả nước về thu ngân sách, đặt mục tiêu cao hơn trong năm 2025- Ảnh 2. — The conference was attended by Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen and Chairman of the Ho Chi Minh City People's Committee Phan Van Mai.

He requested that financial, tax and customs agencies coordinate and closely monitor the state budget collection situation in the area; analyze tax collection data; promptly report and advise the City People's Committee on the budget balance plan, ensuring that budget management is always proactive, balanced, stable and economical.

At the same time, review and evaluate the progress of budget collection, especially the progress of land use fee collection and the need to disburse public investment capital from the City's budget; promptly report and advise the People's Committee on solutions to balance capital sources for public investment in 2025...

At the event, the Ho Chi Minh City People's Committee awarded certificates to units with outstanding achievements in directing and managing budget collection and enterprises paying the budget from 500 billion VND or more.

Speaking at the conference, Mr. Nguyen Hoang Hai, Director of the Ho Chi Minh City Department of Finance, said that the estimated state budget revenue for 2024 assigned by the City People's Council is VND 482,851 billion.

Of which, the state budget revenue in the area implemented by December 31, 2024 is 505,344 billion VND, reaching 104% of the estimate, up 13.17% over the same period. Total local budget revenue is 211,754 billion VND, reaching 150.2% of the estimate, up 23.14% over the same period.

It is expected that by December 31, 2024, total local budget expenditure will be VND 109,465 billion, reaching 72.99% of the estimate and increasing by 20.26% over the same period.