HCM City (VNA) – Ho Chi Minh City's financial sector has worked hard to fulfill the budget estimate target set for 2023.
According to the municipal Statistics Office, totalstate budget revenue in the first three quarters of 2023 amounted to 326.19 trillion VND (over 13.37 billion USD), down 6.4% compared to the same period last year.
The southern economic hub was one of the provinces and centrally-run cities reporting the lowest budget collection rates in thecountry, with total revenue reaching just over 69% of the assigned plan in thefirst nine months of this year.
Among the three main revenue sources, onlycrude oil has met the assigned budget target, reaching more than 18.51 trillionVND, exceeding the target by 15.7%.
Revenue from export-import hit 93.5 trillionVND, equivalent to 64,1% of the estimate and making up 28.7% of the total.
From January to September, domesticcollection decreased by 3% from the same period last year to more than 214.16 trillion VND, while that from foreign-invested areas wentup 0.2% to over 51.87 trillion VND, accounting for 65.6% and 15.9%of the total, respectively.
Director of the municipal Department of FinanceLe Duy Minh stated that the drop in the city's budget revenue was due to difficulties faced by the local business community in recent times,especially real estate firms.
According to Nguyen Toan Thang, Director of the municipal Departmentof Natural Resources and Environment, the slowdown of the real estate market hasaffected related activities.
The city has so far processed only 234,000 sets of documents related toproperty transactions, equivalent to only 62% of the figure in the same period lastyear, he said.
Regarding revenue from land, Thang said in 2023, the city has planned to appraise 43investment projects, with expected revenue of approximately 25 trillion VND,up 5 trillion VND compared to the 2022. The municipal People's Committee has sofar approved 29 projects, collecting total revenue of 7.8 trillion VND.
Other projects are being actively implemented in order toensure the targets are met in the assigned plan, he added./.
The total State budget revenue in the first five months of this year reached over 663.84 trillion VND (28.27 billion USD), equivalent to 48.3% of the ordinance estimate and 96.9% compared to the figure in the same period last year, reported the General Department of Taxation on June 2.
The State budget's revenues from export-import activities totaled 183.74 trillion VND (over 7.74 billion USD) in the first six months of this year, making up 43.23% of the estimate, down 19.19% year-on-year, the General Department of Vietnam Customs (GDVC) reported on July 5.
Hanoi’s budget revenue is estimated at 253.2 trillion VND (10.6 billion USD) in the first seven months of this year, equal to 71.7% of the yearly estimate, and up 20.8% year-on-year, according to the municipal People’s Committee.
The total State budget collection in the first eight months of this year was estimated at over 1,124 trillion VND (46.83 billion USD), or 69.45% of the estimate, down 8.8% year-on-year, according to the Ministry of Finance (MoF).
The total State budget revenue in the first eight months of this year topped 962 trillion VND (nearly 40 billion USD), equivalent to 70.1% of the estimate for the whole of this year and 93.9% compared to the figure in the same period last year, the General Department of Taxation reported on September 11.
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A corner of HCM City (Photo: VNA) 
