Two-month state budget revenue grows 10.6% year on year
An estimated 362.3 trillion VND (nearly 15.3 billion USD) was collected for the state budget in the first two months of 2023. The total is equivalent to 22.4% of the year’s target and up 10.6% from a year earlier, the Ministry of Finance reported on March 3.
State budget revenue stood at about 362.3 trillion VND in the first two months of 2023. (Photo: VNA)
Hanoi (VNA) – An estimated362.3 trillion VND (nearly 15.3 billion USD) was collected for the state budgetin the first two months of 2023. The total is equivalent to 22.4% of the year’s target and up10.6% from a year earlier, the Ministry of Finance reported on March 3.
Revenue from domestic sources reached23.6% of its target and increased 17%. Crude oil grew to 25.7% of the target, up 13.2%, and from foreign trade 15% of the target and equivalent to 74.5% ofthat in the same period last year.
Thirty-six of the 63 provinces andcentrally-run cities nationwide recorded state budget revenue topping 18% ofthis year’s targets for them. This includes Hanoi at 31.8%, Bac Giang at 26.4%, Lang Son at 25%, Kien Giang at 24.8%, Bac Ninh saw 24.7%, and Hai Duong reached 24.2%.
Twenty-four localities saw the collectionhigher than in the same period of 2022, and 39 others were lower.
Meanwhile, nearly 242 trillion VNDfrom the state budget was spent in January and February, representing 11.7% ofthis year’s plan and rising 6% year on year, statistics show.
The Finance Ministry saidexpenditures in the two months were carried out as planned, meeting demand for socio-economicdevelopment, defence, security safeguarding, state management, debt repayment,and implementation of social security tasks./.
Hanoi and Ho Chi Minh City - the country's economic locomotives - recorded the highest disbursement of public investment capital in January, with nearly 2.7 trillion VND (117 million USD) and more than 1.63 trillion VND, respectively, reported the General Statistics Office.
Vietnam’s total State budget collection in January is estimated at 183.7 trillion VND (7.78 billion USD), equal to 11.3% of the yearly estimate and down 0.5% year-on-year, announced the Ministry of Finance on February 7.
With a view to making a financial disclosure of the state budget, the Ministry of Finance (MoF) has publicised its report on Vietnam’s budget situation estimates for 2023. This shows some caution in formulating budget estimations amid lingering difficulties at home and abroad.
Prime Minister Pham Minh Chinh has requested ministries, sectors and localities to review legal procedures regarding the disbursement of public investment capital and propose solutions to deal with existing problems, while promptly allocating all the planned public investment capital sourced from the State budget for 2023.
The tax sector collected an estimated 325.78 trillion VND (13.73 billion USD) for the State budget in the first two months of 2023, a year-on-year rise of 16.7%, and equivalent to 23.7% of the yearly estimate, the General Department of Taxation has reported.
Prime Minister Pham Minh Chinh affirmed that science, technology, innovation, digital transformation, green transition, and circular economy are offering limitless opportunities for bilateral collaboration.
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With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
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In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
State budget revenue stood at about 362.3 trillion VND in the first two months of 2023. (Photo: VNA) 
