The total budget revenue of Quang Nam province has just been announced, causing surprise. Of the total estimated revenue of 26,000 billion in 2024, revenue from Truong Hai automobiles reached 11,650 billion.
Workers at Thaco Chu Lai - Photo: DN
According to data from the People's Committee of Quang Nam province, in 2024, the total budget revenue of the whole province is estimated to reach 26,000 billion VND, reaching more than 110% of the estimate and increasing by 4% compared to 2023.
Thaco Truong Hai accounts for more than 60% of Quang Nam's domestic revenue
According to data from the Department of Finance of Quang Nam province, domestic revenue is estimated at nearly 22,000 billion VND, exceeding 108% of the estimate.
Of the 17 domestic revenue items, 14 reached or exceeded the estimate. In particular, revenue from Truong Hai automobile operations accounted for 62.5% of the total domestic revenue of Quang Nam province.
This year, revenue from Truong Hai automobiles is estimated at VND11,650 billion, up 11.7% over last year. Revenue from Truong Hai automobiles is the main source of revenue for Quang Nam's budget.
The reason why Truong Hai's auto revenue increased is because after the policy of reducing 50% of registration fees from September 2024, revenue increased, leading to revenue for the whole year of 2024 reaching and exceeding the estimate.
Robot welding line at THACO Mazda factory - Photo: DN
Hoiana super project contributes 650 billion VND to offset revenue shortfall from Heineken
Major contributions to Quang Nam's total budget revenue over the years come from hydropower and Heineken Quang Nam Brewery.
However, both sectors are expected to decline in 2024. Low rainfall has caused hydropower plants to fall short of their targets.
Meanwhile, Heineken Vietnam's recent suspension of its brewery in Quang Nam (located in Dien Ban town) has caused Quang Nam's tax revenue to fall by nearly VND500 billion.
However, in 2024, Quang Nam's tourism revenue will skyrocket and offset the shortfall in revenue from other sources.
Notably, the largest foreign-invested resort complex in Quang Nam province, Hoiana golf and resort (located in Duy Xuyen district), contributed 650 billion VND to the Quang Nam budget, reaching 162% of the estimate.
Hoiana entertainment and resort complex - Photo: BC
According to the Department of Culture, Sports and Tourism of Quang Nam province, the reason Hoiana's budget contribution has skyrocketed is due to the increase in the number of tourists coming to visit and relax.
From a vast stretch of white sand, after a long period of construction and operation, Hoiana golf and resort is now the center of high-end tourism in Quang Nam. A series of large-scale international events are held.
In addition, the casino and golf course business of Nam Hoi An has also attracted many visitors, so the budget contribution this year has increased dramatically. This is one of the most important projects, which Quang Nam hopes will promote growth for the province.
In 2024, the recovery in tourism also helped increase entrance fees after a long period of decline.
Quang Nam once faced negative growth.
Previously, as Tuoi Tre Online reported, 2023 was a year of mounting difficulties for Quang Nam.
Quang Nam's total budget revenue in 2023 will only reach VND24,000 billion, a shortfall of more than VND2,700 billion compared to the estimate, while in 2022, the province's budget revenue reached VND31,800 billion.
Source: https://tuoitre.vn/vi-sao-thu-ngan-sach-quang-nam-vot-len-26-ngan-ti-o-to-truong-hai-chiem-gan-12-ngan-ti-2024120915352855.htm
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