HCMC – HCMC’s land-use fee revenue surged in the January-August period with a VND21.7 trillion boost from the Can Gio seafront reclamation project, helping lift total budget revenue to VND524.2 trillion.
At a September 9 meeting reviewing socio-economic performance, Nguyen Cong Vinh, director of the HCMC Department of Finance, said the January-August budget revenue represented 78.1% of the Government’s target and marked a 15.5% increase against the same period last year.
A key driver was land-use fee revenue, which jumped to VND39.8 trillion, nearly four times higher than in the same period last year.
This surge mainly came from a VND21.7 trillion payment related to the Vinhomes Green Paradise Can Gio project, developed by Vingroup subsidiary Can Gio Tourism Urban Development JSC.
Work on Vinhomes Green Paradise Can Gio began on April 19. The project covers nearly 2,900 hectares, including over 1,357 hectares of reclaimed land.
It is planned as a multifunctional seaside urban complex, combining resort facilities, convention and conference centers, smart city features, high-tech services, as well as residential and hotel developments.
Other major developments also generated significant revenue, including the Thu Thiem Smart Complex invested by Lotte in Function Area 2a, and the Thu Thiem New Urban Area, which contributed around VND16.19 trillion.
At a meeting in early August, the HCMC Department of Agriculture and Environment said 23 projects would be submitted to the Land Valuation Council by year-end. Of these, 18 projects are expected to generate nearly VND7.96 trillion in revenue, while land pricing is still being determined for the remaining five.
