Government revenue: A bright spot in FDI and exports/imports.
Against the backdrop of Nghe An province aiming for double-digit economic growth by 2026, the first quarter's budget revenue picture unfolds with many positive aspects. Total state budget revenue in the province is estimated at 8,710 billion VND, equivalent to 37.3% of the provincial People's Council's projected target and a 34.2% increase compared to the same period last year.
The budget revenue performance in the first quarter of the year was notable for the rapid growth of the foreign direct investment (FDI) sector. Estimated revenue reached over 450 billion VND, completing 72.58% of the annual target and increasing by 76.76% compared to the same period in 2025.
This growth rate is superior to other sectors, partly demonstrating that the FDI sector is gradually asserting its role in the revenue structure.
In the context of continued global input costs, especially energy prices, these results reflect the flexible adaptability of FDI enterprises.
From a structural perspective, the growth of the FDI sector brings many positive signals. Many projects have moved beyond the investment phase, into stable operation, and are generating substantial revenue for the budget. Nghe An's investment environment is also gradually improving, creating conditions for businesses to maintain production and expand their scale.
Nevertheless, the absolute size of this revenue is still modest in relation to the overall budget, meaning there is still ample room for increased contributions.
Along with FDI, according to Nghe An province statistics, revenue from import and export activities recorded an impressive increase. In the first quarter, it is estimated to reach over 742 billion VND, equivalent to 40.14% of the projected target and 2.5 times higher than the same period last year.
A key driving force is the vibrant import and export activity, which leads to increased tax revenue and contributes significantly to the total budget revenue.
According to data released by the Customs Department (Ministry of Finance), in the first quarter, Nghe An's exports reached over 1.076 billion USD, ranking 17th nationwide; while imports reached over 1.065 billion USD, ranking 16th nationwide.
Putting the Q1 results into the operational scenario, it can be seen that revenue collection progress is quite close to the projected trajectory. The actual amount collected is 8,710 billion VND, approximately 153 billion VND higher than the 3-month scenario (8,557 billion VND) developed by the Provincial People's Committee.
This gap provides some room for maneuver, but it's not large enough to create a sense of security, especially when revenue pressure usually concentrates in the last months of the year.
According to the scenario, the target for budget revenue in the first six months is 15,443 billion VND, in the first nine months 23,425 billion VND, and for the whole year 32,000 billion VND, an increase of 9.3% compared to 2025.
Meanwhile, the target set in Directive No. 09-CT/TU of the Provincial Party Committee on focusing leadership and direction to successfully complete socio-economic development tasks is 35,000 billion VND, which is 3,000 billion VND higher than the operational scenario.
This gap necessitates the creation of new revenue-generating incentives, while simultaneously making more efficient use of existing revenue sources.
In this context, ensuring the progress of budget revenue collection for the whole year requires a synchronized and flexible approach. The fundamental solution is to expand the domestic revenue base, which accounts for the largest share in the budget revenue structure.
In particular, it is necessary to effectively manage e-commerce and digital business activities; guide business households to switch from the lump-sum tax method to the declaration-based tax method for more sustainable development; and at the same time, help tax authorities effectively achieve the goal of collecting taxes correctly and fully.
The FDI sector should continue to be identified as one of the pillars of budget revenue growth, with the immediate requirement being to accelerate disbursement so that projects can quickly go into production and generate substantial revenue.
In the long term, it is necessary to improve the quality of investment attraction by being selective, prioritizing projects with high added value, modern technology, and the ability to make a stable contribution to the budget, thereby consolidating the foundation for sustainable growth.
For import and export activities, there is still room for growth if free trade agreements are effectively utilized and logistics capabilities are improved.
Reducing transportation costs and shortening customs clearance times will help businesses enhance their competitiveness, thereby generating additional revenue for the government.
Close coordination between tax and customs authorities plays a crucial role in both facilitating and ensuring the discipline of revenue collection.
The revenue collection results for the first quarter of 2026 have created a positive foundation; however, reaching the target of 32,000 billion VND (as projected and targeted) of 35,000 billion VND is still a long way off, requiring continuous, consistent, and focused efforts.
