Nghe An strives to achieve budget revenue of 26,000 - 30,000 billion VND by 2025

Chairman of the Provincial People's Committee Nguyen Duc Trung works in Anh Son district. Photo: Pham Bang

In recent years, the State financial and budget management in Nghe An province has always received attention, leadership and direction from the Provincial Party Committee, People's Council and Provincial People's Committee. State financial and budget work and public debt management have made important contributions to socio-economic development, ensuring national defense and security, handling urgent issues of natural disasters, epidemics, environmental protection, and responding to climate change... In particular, in 2020 and 2021, despite being greatly affected by the Covid-19 pandemic and widespread natural disasters and floods, the Provincial People's Committee has actively directed branches, levels, units and enterprises to overcome difficulties, restore production and business; ensure social security and people's lives.

Looking back at the outstanding results of the past time, it can be seen that: The Provincial People's Council and the Provincial People's Committee have issued mechanisms and policies on decentralization of State budget revenue sources, expenditure tasks and percentages of revenue sharing between budget levels for the periods 2011-2015; 2017-2021; 2022-2025. Through the periods, the situation of integration in State budget management has been basically overcome; decentralization has been increasingly promoted, creating initiative and self-responsibility for local authorities.

Chairman of the Provincial People's Committee Nguyen Duc Trung visited the tea production line of Song Lam Sugarcane Joint Stock Company. Photo: Pham Bang

Along with issuing mechanisms and policies on decentralization of revenue sources and expenditure tasks for all levels, the Provincial People's Council and Provincial People's Committee have issued principles, criteria and norms for allocating regular expenditure estimates for the local budget for the above periods. The implementation of budget expenditure tasks has contributed to gradually improving the efficiency of budget use, striving to gradually reduce the rate of regular expenditure, contributing to restructuring the State budget revenue and expenditure, meeting the requirements for implementing political tasks of each department, branch and locality.

Mr. Nguyen Xuan Hai - Director of the Department of Finance said: To ensure the achievement of the targets set out in the plan, directions and tasks for the development of Nghe An province as required, the Provincial People's Committee issued Decision No. 5181/QD-UBND dated October 10, 2014 of the Provincial People's Committee on promulgating the Project to increase State budget revenue in Nghe An province by 2020. Especially with the efforts of the province, along with the attention of the Party and the State, Nghe An province has piloted a number of specific mechanisms and policies on financial management, State budget and decentralization of State management in the fields of land, planning and forestry in Resolution No. 36/2021/QH15 dated November 13, 2021 of the National Assembly. This is considered an opportunity to create a breakthrough for Nghe An to develop rapidly and sustainably.

Every year, based on the Government's Resolution on key tasks and solutions to implement the socio-economic development plan and the State budget estimate, the Provincial People's Committee has issued key tasks and solutions to implement the socio-economic development plan; directed the strengthening of State budget collection in Nghe An province; and issued a mechanism for State budget management and operation. Accordingly, the leadership and direction of State budget revenue and expenditure management have become increasingly effective, strict and flexible; increasing the level of publicity and transparency.

Steel production at Hoa Sen Quynh Lap Steel Factory (Hoang Mai Industrial Park). Photo: Tran Chau

In 2021, in order to develop the socio-economy with focus and create breakthroughs, the Provincial People's Council issued a number of specific mechanisms and policies to support the development of localities such as Cua Lo town, Nam Dan district, Vinh city, which continue to be "springboards" for localities to accelerate budget collection.

Thus, basically, the financial and budget management work in the period of 2013 - 2021 has many positive changes. After nearly 10 years of implementing Resolution No. 26-NQ/TW dated July 30, 2013 of the Politburo, the financial and budget have had significant developments and changes. Budget revenue and expenditure have basically met the socio-economic development goals of the province. Budget revenue and resource mobilization have been arranged and allocated reasonably.

Nghe An's total budget revenue in the 2014 - 2020 period reached VND 88,599 billion (of which the 2014 - 2019 period alone accounted for 79.9% of the total revenue of the whole period), with an average growth rate of 14.5% per year, ranking 7th in the North Central and Central Coast regions. State budget revenue in the province in 2019 was VND 16,400 billion, in 2020 was VND 17,836 billion, in 2021 was VND 19,993 billion, ranking 5th in the North Central and Central Coast regions and 17th in the country.

A corner of the central area of ​​Vinh city, Nghe An. Photo: Thanh Duy

The budget revenue structure is gradually becoming more sustainable, with the proportion of domestic revenue increasing gradually. Domestic revenue tends to increase steadily every year, revenue from import and export activities is unstable, depending on many factors regarding mechanisms, policies, imported machinery and equipment for projects, gasoline, oil, etc. However, budget revenue in the area still does not meet the need for regular spending. The revenue structure is not positive and stable. There is no major source of revenue. The revenue source mainly relies on tax collection from enterprises, but the number of enterprises located in the area that pay over 10 billion VND in taxes annually is still small.

To achieve growth in State budget revenue, the Finance sector is determined and makes efforts with other sectors and localities to improve the effectiveness and efficiency of budget revenue management, improve the efficiency of allocation, management and use of budget resources, and the efficiency of public debt management. In addition to restructuring and improving the operational efficiency of State-owned enterprises; innovating the management of State capital invested in enterprises and improving infrastructure, promoting investment attraction./.