Customs creates maximum facilitation for agricultural exports Goods imported from export processing enterprises must pay tax Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Ho Chi Minh City sees high revenue thanks to crude oil, real estate

By Le Thu/ Huyen Trang

By Le Thu/ Huyen Trang

See the author's posts
12:47 | 04/06/2022 Finance Follow english.haiquanonline.com.vn on
VCN - Total state budget revenue in Ho Chi Minh City in the first five months of 2022 increased by 19.5% year-on-year, of which revenues related to real estate and crude oil rose 2.1 time and 82.5% respectively.
Ho Chi Minh City Customs processed over 1.2 million declarations Ho Chi Minh City Customs processed over 1.2 million declarations
Ho Chi Minh City Customs records over US$53 billion in trade turnover Ho Chi Minh City Customs records over US$53 billion in trade turnover
Exports fire on all cylinders, creating a boon for Ho Chi Minh City's economy Exports fire on all cylinders, creating a boon for Ho Chi Minh City's economy
Imports through Ho Chi Minh City's port recorded good growth, pushing the revenue up nearly 12% year-on-year. Photo: T.H
Imports through Ho Chi Minh City's port recorded good growth, pushing the revenue up nearly 12% year-on-year. Photo: T.H

According to the People's Committee of Ho Chi Minh City, city’s state revenue in the first five months of 2022 is estimated at VND209.824 billion or 54.3% of the annual estimate, up 19.5% over the same period last year.

Specifically, domestic revenue is estimated to have risen by 19.8% year-on-year to VND141,919 billion or 54.7% of the estimate, accounting for 67.6% of the city’s total revenue.

Of this, revenue from state-owned enterprises rose 28.6% year-on-year to VND13,176 billion or 50.2% of the estimate, accounting for 6.3% of the city’s total revenue; revenue from the non-state sector rose by 10% to VND40,469 billion or 60.1% of the estimate, accounting for 19.3% of total revenue; revenue from the foreign-invested sector rose by 7.9% to VND 33,034 billion or 60.1% of the estimate, accounting for 15.7% of the city’s total revenue.

In particular, budget revenue from crude oil exceeded the whole year estimate to VND 10,695 billion, up 82.5%.

Besides, the economy had positive signals when tax revenue from real estate doubled; tax revenue from products grew by 11.7% year-on-year. Meanwhile, state budget expenditure (except for advances) decreased by 11.9% year-on-year.

Budget revenue from import-export activities in the first five months increased by 11.7% to VND57,200 billion or 49.1% of the estimate.

From the beginning of 2022 to May 15, Ho Chi Minh City Customs Department carried out customs clearance procedures for import-export goods with a turnover of over US$53 billion USD, up 11.2% year-on-year.

Ho Chi Minh City: Many industries are committed to supporting logistics human resource training Ho Chi Minh City: Many industries are committed to supporting logistics human resource training

In which, both export and import turnover recorded positive growth. The total value of exports grew 8.76% year-on-year to US$ 23.925 billion the total imports grew 13.25% year-on-year to US$29.536 billion.

By Le Thu/ Huyen Trang
Tags:
Ho Chi Minh city Real estate crude oil revenue

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