Vinh City's budget revenue in 2021 is estimated at 2,500 billion VND

In 2021, the total added value in production and business of Vinh city is estimated at 22,344 billion VND (2010 SS price), equal to 97.03% of the plan and an increase of 6.36% over the same period.

Of which, the Industry - Construction sector is estimated at 6,894 billion VND, equal to 98.08% of the plan and up 7.92% over the same period; the Service sector is estimated at 15,220 billion VND, equal to 96.57% of the plan and up 5.76% over the same period; the Agriculture - Forestry - Fishery sector is estimated at 230 billion VND, equal to 98.29% of the plan and up 0.88% over the same period. There are 641 enterprises (down 36 enterprises compared to the same period in 2020) and 2,947 business households (up 903 households compared to the same period in 2020) newly registered.

A corner of Vinh city. Photo: Hai Vuong

Although the resurgence of the Covid-19 epidemic has directly impacted production and business activities, greatly affecting the local budget revenue, since the beginning of the year, the City has proactively developed and issued many documents directing the synchronous implementation of solutions to increase budget revenue, thanks to which the budget revenue has basically reached the target if the plan is completed in the last month of the year.

The estimated state budget revenue in the city in 2021 is 2,503.2 billion VND, reaching 127.1% of the provincial estimate, 100.1% of the City People's Council's estimate, down 12.1% over the same period, of which: Regular revenue: 1,026.8 billion VND, reaching 100.8% of the provincial estimate, 96.1% of the City People's Council's estimate, down 18.2% over the same period; land use fee revenue is 1,476.4 billion VND, reaching 155.4% of the provincial estimate, 103.1% of the City People's Council's estimate.,down 7.4% year-on-year.

Chart of land use fee collection rate in Vinh city in 2021. Photo: Lam Tung

It is known that in 2021, Vinh city issued Directive No. 02/CT-UBND dated January 30, 2021 on strengthening state budget collection in 2021; Plan No. 13/KH-UBND dated January 20, 2021 onland exploitation2021; Decision No. 7979, 7999/QD-UBND dated December 31, 2020 on assigning targets to wards and communes; Decision No. 64/KH-UBND dated March 24, 2021 on implementing the program to prevent state budget loss in 2021....

Although basic revenue is quite good, the structure of budget revenue sources shows that revenue from land use fees still accounts for 59% of total revenue in the area.