Binh Duong among five localities with highest budget revenue collection
The southern province of Binh Duong has contributed 14.94 trillion VND (637 million USD) to the State budget in the first quarter, ranked among the top five localities with the highest figures nationwide.
At the factory of Panasonic Life Solutions Vietnam Co., Ltd., Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen town, Binh Duong. (Photo: VNA)
Binh Duong (VNA) – The southern province of BinhDuong has contributed 14.94 trillion VND (637 million USD) to the State budget inthe first quarter, ranked among the top five localities with the highestfigures nationwide.
According to the provincial tax department, the Q1 collectionfulfilled 33.03% of the yearly estimate assigned by the Ministry of Finance and was20.25% higher than the same period in 2022.
Head of the department Nguyen Van Cong attributed theincrease to a Government’s regulation requiring that businesses musttemporarily pay 80% of their tax on January 31 this year and to the larger-than-last-yearamount of some land leasing revenue.
As of the end of 2022, Binh Duong had attracted more than4,082 foreign direct investment (FDI) projects worth nearly 40 billion USD ofregistered funds, placing it among the top two localities in the country in FDIattraction, just after Ho Chi Minh City.
Also last year, its budget revenue collection amounted to some 61.94 trillionVND./.
The southern industrial hub of Binh Duong has seen a positive change in foreign direct investment (FDI) inflows with higher number of projects meeting the locality’s criteria of high technology, high economic values, environmentally friendlỉness, and less labour-intensiveness, according to the provincial Department of Planning and Investment.
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At the factory of Panasonic Life Solutions Vietnam Co., Ltd., Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen town, Binh Duong. (Photo: VNA) 
