Ho Chi Minh City is expected to obtain higher budget revenue than the government’s estimates this year, reported the city People’s Committee to National Assembly Finance and Budget Committee on August 27.
A seaport in HCMC (Photo: SGGP)
According to the people's committee, HCMC economy has showed more satisfactory and prosperous results than the last two years.
Businesses have made great efforts to overcome difficulties and maintain operation.
This year, budget revenue norm set by the central government for the city is more obtainable and suitable with the city’s condition and ability than the numbers assigned in 2012 and 2013.
The city’s economy continued growing higher than the same period in the last few years, thus, in the first seven months this year, the city's state budget revenue reached VND154,541 billion (US$7.30 billion), accounting for 68 percent of estimates and up 19 percent over the same period last year, said the city Department of Finance.
Local budget revenue was estimated at VND30,623 billion (US$1.45 billion), accounting for 73 percent of estimates and posting a 32 percent year on year increase.
The city authorities have step up assistance for trade, investment and tourism promotion, market enlargement and brand advertisement.
They have also issued policies to speed up exports, linked up banks and enterprises especially those of small and medium scales, and helped the businesses solve difficulties.
On the other hand, measures have been launched to increase the budget revenue, prevent losses and collect tax debts of VND13,011 billion (US$615 million).