The city’s Department of Finance said total state budget revenue collected in 2025 reached 800.04 trillion dong, the highest level ever recorded. — VNA/VNS
HO CHI MINH CITY: Ho Chi Minh City’s record-breaking budget revenue level in 2025 reflects the city’s strong economic growth and efforts to resolve administrative bottlenecks.
According to the city’s Department of Finance, total state budget revenue collected in 2025 reached 800.04 trillion dong, the highest level ever recorded.
This figure exceeded the central government’s estimate by 19.1% and surpassed the target approved by the City People’s Council by 14.7%.
With that revenue, the city once again led the nation in budget contributions in 2025, playing a decisive role in balancing the national budget and supporting macroeconomic management.
For 2025, the Prime Minister assigned the city a budget revenue target of 671.6 trillion dong, a figure that was adjusted to reflect the administrative consolidation of Ho Chi Minh City with neighbouring provinces.
Despite the pressures associated with restructuring its administrative apparatus and implementing the two-tier local government model from July 1, budget collection throughout the year remained strong.
Key revenue streams such as corporate income tax and value-added tax posted solid growth, reflecting the gradual recovery of business activity.
Notably, the city’s tax authority completed its annual domestic revenue target for the first time ever after just 10 months, while tax revenue in the final six months of the year rose by more than 30% year-on-year.
Overall, domestic revenue excluding crude oil reached 574.3 trillion dong, equivalent to 126.8% of the central target and 120.8% of the city’s own estimate, with an additional 8.33 trillion dong still to be recorded for budget settlement.
The strong budget performance in 2025 closely mirrored the city’s economic rebound.
Gross regional domestic product (GRDP) expanded by 8.03%, with the economy valued at approximately 3.03 quadrillion dong, accounting for 23.5% of national gross domestic product (GDP).
Average per capita income rose to US$8,944, around 1.7 times the national average. Foreign direct investment (FDI) also remained robust.
By the end of 2025, total registered FDI, including new projects, capital adjustments and equity contributions, reached nearly US$8.37bil, up 24.2% year-on-year.
Another key driver was the acceleration in resolving long-standing stalled projects.
By early December 2025, the city had addressed 670 out of 838 delayed projects, unlocking more than 804 trillion dong in investment capital across roughly 16,200 ha of land.
Speaking at a year-end budget conference, city leaders described the 2025 revenue outcome as a notable achievement amid global and domestic uncertainties.
Looking ahead, Ho Chi Minh City has been assigned a 2026 budget revenue target of 804.8 trillion dong, accounting for nearly 32% of the national total.
At a conference reviewing tax performance and rolling out tasks for 2026 in early January, city tax leaders said the city is striving to become the first locality nationwide to record a state budget revenue of one quadrillion dong during the 2026 to 2030 period.
Officials said the one quadrillion dong milestone would reflect not only the expanding scale of the local economy but also improvements in tax administration, digital transformation and the broadening of the revenue base, particularly in emerging areas such as the digital economy, eCommerce and platform-based business models.
Achieving the target will require continued reforms in tax management, stronger compliance and risk-based supervision, as well as closer coordination to unlock stalled projects and expand sustainable revenue sources. — Viet Nam News/ANN
