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Ho Chi Minh City
Friday, February 3, 2023

HCMC’s full-year budget revenue soars

The Saigon Times

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HCMC – HCMC’s budget revenue this year totaled nearly VND472 trillion, up 22% against the target and 23.6% year-on-year, heard a conference on the city’s 2022 budget collection and spending on December 28.

The budget revenue from domestic production and business activities reached over VND330 trillion, over 22% higher than expected, said Le Duy Minh, director of the municipal Department of Finance.

Imports and exports totaled VND141.4 trillion, exceeding the target by 21.4%, the local media reported.

Speaking at the conference, HCMC Chairman Phan Van Mai said that despite many difficulties facing the local and global economies, the city reported positive results in the budget collection. However, the economy is forecast to continue facing challenges and uncertainties in 2023, while the city’s budget revenue is targeted at VND469 trillion.

As such, the departments and agencies must enhance efforts to maintain budget collection sources and support firms, said Mai.

The city’s leader also asked relevant agencies to start spending on public investment early in 2023 to ensure disbursement meets the target, as this year, the disbursement of public investment is expected to meet only 86% of the target. In 2023, public investment will be targeted at VND72 trillion.

HCMC Chairman Mai also told all departments and units to speed up administrative reforms and remove obstacles over the investment climate to pave the way for enterprises, contributing to a rise in the city’s budget revenue in 2023.

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