HCMC’s state budget collection up by 17.8 percent in 2010

Ho Chi Minh City’s total state budget revenue for this year has reached VND170,000 billion (US$8,500 billion). This is up by nearly 17.8 percent, as compared to the forecast, reported the State Bank of Ho Chi Minh City on December 31.

Ben Thanh Market in Ho Chi Minh City

A city delegation visited the state bank, the commercial banks and state treasury, in the city on December 31.

The delegation included the Chairman of the city People’s Committee Le Hoang Quan, the Permanent Deputy Secretary of the HCM City's Party Committee Nguyen Van Dua, and the deputy chairwoman of the city People’s Committee Nguyen Thi Hong.

According to the report, domestic collection increased seven percent, as compared to the forecast; and collection from the import-export sector reached VND60,235 billion ($3,011 million), an increase of 27.89 percent.

The city mobilized a total capital of VND766,000 billion ($3,830 billion), an increase of 29 percent, compared to 2009. The outstanding credit reached over VND700,000 billion ($3,500 billion), an increase of 25 percent, as compared to 2009.

The report also showed that the total outstanding loans for the production and business sectors reached 80 percent.

Mr. Quan, said the city’s GDP growth is estimated to attain 11.8 – 12 percent in 2010.

Meanwhile, this year, the city’s spending was VND38, 816 billion ($1,941 billion) or 28.66 percent over the forecast. The city authorities also visited the employees from the Bank for Investment and Development of Vietnam. This bank in the past has generated capital for city development.


By H.Liem, translated by Thanh Huong

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