Central budget revenue has reached impressive heights, standing at 28.04% of the target, with local budget revenue hitting 30.46%. As of March 12, total revenue climbed to an astonishing 528.3 trillion VND, marking a remarkable 141.1% year-on-year increase—the highest ever recorded for the first two months of the year.
Mai Xuan Thanh, the Director of the Department of Taxation under the Ministry of Finance, attributed this sharp rise to exceptional gains from various sources. These include banking surpluses, dividends, land-related income, and lottery proceeds. Notably, land revenue, despite accounting for just 15.8% of total collections, posted the highest growth rate among all sources.
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| Vietnam’s state budget revenue soars to 574.4 trillion VND (22.5 billion USD) as of March 11, an impressive achievement. (Photo: VNA) |
In contrast, revenue from import-export activities totaled 61.3 trillion VND, accounting for 14.9% of the annual target and 13.04% of the government’s projection. However, the growth in this sector remains slow, and it has yet to meet the government’s monthly targets.
Minister of Finance Nguyen Van Thang praised the early-year budget performance as encouraging. While spending in January was lower than the previous year, February witnessed an upward shift. This brought total expenditures for the first two months to 293.8 trillion VND, equaling 11.5% of the budget estimate and a 13.2% year-on-year increase.
Foreign Investment in Vietnam’s Manufacturing Sector: Opportunities and Growth
Around 70% of foreign direct investment (FDI) in Vietnam is directed towards its processing and manufacturing sector, presenting a significant opportunity for the country to boost its economic growth. This influx of FDI has the potential to propel Vietnam towards its ambitious goal of achieving double-digit growth and realizing its vision for the year 2045.
Vietnam, US: Strengthening the Energy Alliance
Vietnam is committed to fostering a mutually beneficial and sustainable economic partnership with the United States, according to Minister of Industry and Trade Nguyen Hong Dien. The minister emphasized that Vietnam’s consistent policy is to promote a balanced, stable, and positive economic relationship with the U.S. that brings advantages to both nations. Furthermore, he assured that Vietnam has no intention of erecting barriers that could potentially harm American workers or undermine the economic and national security of the United States.
Vietnam’s Oil Venture in Algeria: Advancing to the Next Phase with Promising Results
The second phase of a tripartite oil exploration and extraction venture in Algeria has commenced, with Vietnam’s PVEP, Algeria’s Sonatrach, and Thailand’s PTTEP building upon their successful collaboration. This dynamic partnership combines the unique strengths and expertise of each country, leveraging their collective capabilities to unlock new opportunities in the energy sector. With a proven track record of success, the project is poised to make significant strides in the coming phase, further solidifying the strategic alliance between these distinguished energy powerhouses.
The Prime Minister Calls for Swift Action on State Investment Fund Allocation
Prime Minister Pham Minh Chinh has instructed ministries, agencies, and localities to finalize the allocation of the 2025 state investment plan, setting a firm deadline of March 15. In a clear message to ensure timely action, he warned that any funds remaining unallocated after this date would be redirected to high-priority projects elsewhere. This directive underscores the government’s commitment to efficient resource allocation and ensuring that critical initiatives receive the necessary financial support.
Cat Ba: A Gem Among Vietnam’s Small Towns, Popular with Foreign Tourists, According to Agoda
Cat Ba is on the cusp of becoming an internationally renowned seaside entertainment hub, offering visitors a plethora of exciting experiences from dawn until late into the night. With an array of attractions, this island paradise promises an exhilarating and unforgettable journey, ensuring that every visitor will be left wanting more.
