2:51:10 PM | 5/20/2025
Vinh Phuc’s state budget revenue reached VND 11,645 billion in the first four months of 2025, accounting for 43.1% of the full-year target set by the Provincial People's Council and 36.3% of the target under the province’s double-digit growth scenario.
Domestic revenue was the main contributor, totaling VND 10,410 billion, which equals 47.3% of the full-year target and 40% of the higher-growth target. The value was 7.6% higher than the same period of 2024. This result reflected the province’s active and decisive management in economic and financial governance. Key contributors included flexible business support policies, administrative procedure reforms, accelerated digital transformation, and the rapid disbursement of public investment. Notably, the local business community effectively adapted to new conditions, gradually expanded production, maintained supply chains and ensured stable revenue streams.
To sustain this growth in line with the province’s double-digit growth target, local government agencies and relevant sectors are implementing coordinated measures. These include focusing on administrative reforms in taxation and customs sectors, tightening revenue management, combating tax loss and transfer pricing practices, and actively supporting businesses in addressing difficulties. Additionally, the province is focusing on critical areas such as investment procedures, access to land and credit. It is also stepping up investment promotion and leveraging its tourism and service sectors to diversify revenue sources and optimize the budget structure.
By Hien Nam, Vietnam Business Forum
Vietnamese
