According to the Ho Chi Minh City Customs Department, the increase in budget revenue compared to the same period last year is brought by the taxed import turnover of some key imported goods with high tax rates.
Generally, there were 133,700 newly registered and reopened enterprises in the first seven months of 2022, up 26.8 percent over the same period last year. On average, there are 19,100 newly-established and reactivated enterprises per month.
The People's Committee of Ho Chi Minh City, on the afternoon of April 26, held a meeting on the socio-economic situation in April and the direction and key tasks in May 2022. Mr. Phan Van Mai, Member of the Party Central Committee, Standing Deputy Secretary of the HCMC Party Committee, Chairman of the People's Committee of HCMC, chaired the meeting.
Ms. Pham Thi Hong Ha, Director of the Department of Finance of Ho Chi Minh City, reported that the city's budget revenue in 2021 exceeded VND381.53 trillion, reaching 104.5 percent of the estimate and increasing by 2.73 percent compared to that of more than VND371.38 trillion in the same period last year.
Vietnam has suffered huge economic losses in the past two years. In 2020, economic growth was expected to be 6.8 percent, but it was only 2.9 percent for the whole year. In 2021, the economic growth target is 6 percent, but the actual achievement will possibly be not higher than 3 percent. It means that within two years, the country has lost about 7 percent of its GDP (GDP is currently about US$343 billion), equivalent to a loss of nearly $24 billion. Mr. Tran Hoang Ngan, Director of the HCMC Institute for Development Studies (HIDS) stated.
The revenue collected by Ho Chi Minh City in 2020 reached VND 371,000 bn, which means that the City received an average of about VND 1,000 bn per day. For 2021, the Central Government has assigned a target for Ho Chi Minh City to ensure a daily income of about VND 1,500 bn.
Reporting to the Government, Vice Chairman of the People's Committee of Ho Chi Minh City Vo Van Hoan affirmed that the city’s economy had positive growth, with budget revenue hitting VND2.9 trillion (US$125.7 million) per day. The city was neither subjective nor panic in the prevention of the Covid-19 pandemic.
According to the General Statistics Office of Vietnam, the national budget revenue in the first two months of 2020 plummeted due to Lunar New Year (Tet) holidays along with the influence of Covid-19 epidemic.
Ho Chi Minh City was assigned to collect VND 405.83 trillion (US$ 17.5 billion) for the state budget in 2020, a rise of 1.68 percent compared to last year’s estimates, said Chairman of the municipal People’s Committee Nguyen Thanh Phong.
State budget revenue in HCMC reached VND378,543 billion (US$16.33 billion) in 2018, accounting for 100.47 percent of estimates and increasing 8.65 percent over the same period last year, reported director of the city Department of Finance Phan Thi Thang yesterday.
Minister of Finance Dinh Tien Dung yesterday hoped that the National Assembly will approve the draft resolution on specific mechanisms for HCMC to develop more strongly, create breakthroughs and contribute more to the country’s Gross Domestic Product (GDP) growth.