Log in
Hanoi

Hanoi's budget revenue reaches US$5.2 billion in 6 months

The positive result was thanks to drastic measures from the local government, including the naming and shaming of businesses that have defaulted on tax payments, said Nguyen Van Suu, Hanoi`s deputy mayor.

In the first half of 2018, Hanoi collected VND120 trillion (US$5.16 billion) for the state budget or 50.04% of the year's estimate, according to Suu.
 
Illustration photo.
Illustration photo.
Of the total, revenue from land-use rights and the non-state sector witnessed high growth rates, reaching 73.1% and 53% of the plans, respectively, Suu added.

The positive result was thanks to a combination of drastic measures and efforts from the local government and concerned parties, including the naming and shaming of businesses that have defaulted on tax payments. 

Concurrently, Hanoi also set up measures to ensure efficiency and flexibility in state budget expenditure and public investment. 

Suu requested supports from the government and the Ministry of Finance for higher efficiency in revenue collection from state-owned enterprises, which currently stood at 44% of the estimate. 

During the first January - June period, Hanoi's GRDP reached 7.07%, up 0.43 percentage points year-on-year, according to the municipal Statistics Office. 

In 2018, Hanoi aims to achieve a GRDP target of 7.3-7.8%. The city also expect to have over 50,000 newly established enterprises (including business households transformed into enterprises). Along with this target, Hanoi strives to grow its service sector by 6.9-7.5% and those of industry and construction sectors by 8.2%-8.7%. Additionally, export turnover growth is expected to reach 7.5-8%.
Reactions:
Share:
Trending
Most Viewed
Impressive growth of Hanoi economy in Q1 2025

Impressive growth of Hanoi economy in Q1 2025

Hanoi seals strategic investment ties with Australia at high-level visit

Hanoi seals strategic investment ties with Australia at high-level visit

Pho Festival 2025: Celebration of Hanoi’s iconic dish

Pho Festival 2025: Celebration of Hanoi’s iconic dish

Hanoi approves construction of US$600 million Tu Lien Bridge

Hanoi approves construction of US$600 million Tu Lien Bridge

Breathtaking transformation of Hanoi's leaf-changing season 

Breathtaking transformation of Hanoi's leaf-changing season 

Hanoi tightens management of conditional businesses

Hanoi tightens management of conditional businesses

Hanoi celebrates Vietnam's ethnic diversity

Hanoi celebrates Vietnam's ethnic diversity

THE HANOI TIMES —The Vietnam Ethnic Village of Culture & Tourism, located in the suburbs of Hanoi, will host a series of events under the theme “Cultural Colors of Vietnamese Ethnic Groups.”

Cultural heritage celebrated at thousand-year temple in Hanoi 

Cultural heritage celebrated at thousand-year temple in Hanoi 

THE HANOI TIMES — The traditional commemoration of the passing of Genie Huyen Thien Tran Vu was held on March 31 at Quan Thanh Temple, a special national relic built in the 11th century in Hanoi's Ba Dinh District.