HCMC – The central Government has assigned HCMC the ambitious goal of collecting over VND506 trillion in budget revenue for 2025, according to local media reports.
The city beat its 2024 target, generating over VND500 trillion in revenue. The HCMC Tax Department reported VND373.6 trillion in tax collections, surpassing projections by 6.2% and marking a 14.1% year-on-year increase. Revenue from production and business activities accounted for VND216.4 trillion, reflecting a 9% rise compared to 2023.
City Vice Chairman Nguyen Van Dung stated that the city aims to collect VND389 trillion in tax revenue in 2025, contributing to the overall budget target. Authorities plan to enhance tax collection efforts in key areas such as digital platforms, transfer pricing, and e-commerce.
In 2024, the city recovered VND256.4 billion through efforts to address tax violations on e-commerce platforms. Dung emphasized the importance of reforming administrative procedures, minimizing inefficiencies, and cracking down on tax evasion to achieve the 2025 goals.
Separately, the city is advancing a project to upgrade Thai Van Lung Street in District 1. The People’s Committee has instructed the Department of Planning and Investment to collaborate with transport officials to evaluate and propose the project for approval.
District 1 authorities plan to engage local residents and businesses in funding the street revamp. Additionally, a comprehensive management framework will be developed to ensure the project’s success. Vice Chairman Bui Xuan Cuong has been tasked with overseeing its implementation.
