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Monday, July 22, 2024

HCMC requires VND128 trillion for 2021-23 investment development

The Saigon Times

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HCMC – The People’s Committee of HCMC has projected that the city’s investment development will cost more than VND128 trillion in the period of 2021-2023.

The rate for retained budget revenue for the period of 2022-2025 has increased to 21% compared to 18% in 2017-2021, according to HCMC’s mid-term report on the rate of budget revenue retained by the city in 2022-2025, with a vision to 2026-2030

The higher rate of retained budget revenue has created an opportunity for the southern metropolis to boost socio-economic expansion, with a particular focus on strategic breakthroughs and investments in infrastructure development.

The total expenditure for development investment in 2021-2023 is projected at VND128,129 billion, or 100.2% of the estimate, up an impressive 83.66% compared to the period of 2016-2018.

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