HCMC – As economic recovery has gained traction, HCMC saw its budget revenue in the first seven months of the year rising by a staggering 14% against the same period last year.
The HCMC Statistics Office reported that the city’s total budget collected during this period amounted to VND308,724 billion, achieving nearly 64% of the full-year estimate and growing by 14% year-on-year.
The city’s revenue from domestic sources totaled nearly VND227 trillion, making up for 68% of the 2024 estimate.
State-owned enterprises contributed VND20,704 billion, up by 15.5%. Revenue from the private domestic economic sector was put at VND67,546 billion, up by 19.5% from the year earlier, and foreign direct investment (FDI) businesses at VND51,522 billion, up by 14.4%.
In contrast, revenue from crude oil and export-import activities declined compared to the same period last year. Revenue from crude oil was estimated at VND12,483 billion, down by 13.2%, while revenue from export-import activities was nearly VND70 trillion, down by 5.5%.
The HCMC tax authority projected that total budget revenue in all of 2024 could amount to VND371,108 billion, surpassing the 2024 estimate by over 5% and growing by 11.6% versus the previous year.
