HCMC – HCMC aims to generate nearly VND520.1 trillion in budget revenue for 2025, exceeding the target of over VND13 trillion allocated to the city by the central Government.
The target was revealed during a meeting held by the HCMC State Treasury on December 31 to review the city’s 2024 budget performance.
Nguyen Hoang Hai, director of the Department of Finance, said that the city will enhance revenue management by focusing on areas such as land use, natural resources, and digital economy. The department plans to collaborate with other agencies to analyze collection trends and routinely monitor fiscal balances.
Priority will be given to accelerating land valuation processes and optimizing revenue from auctions and project obligations, especially in strategic zones like the Thu Thiem New Urban Area.
In 2024, HCMC collected over VND508.5 trillion, surpassing its target by 5.32% and marking a 13.3% year-on-year increase. Local budget expenditure reached VND109.4 trillion, representing 72.99% of the planned allocation, with VND56.6 trillion directed toward development investment.
Nguyen Van Dung, deputy chairman of the HCMC People’s Committee, commended the financial sector for achieving 2024 goals but cautioned against upcoming challenges. He called on departments to develop specific strategies to ensure 2025 targets are met.
Key focuses for the city include boosting revenue from the digital economy, streamlining administrative procedures, and supporting businesses. Dung also highlighted the importance of stricter oversight of tax collection and land use to bolster revenue sources.
