Economic recovery drives increase in state budget revenue

(ĐN)- After more than 10 months of 2024, Dong Nai has achieved its full-year state budget revenue target with over VND 55.2 trillion collected, marking one of the province’s five key economic indicators to reach the finish line early. This success stems from early-year directives by Chairman Vo Tan Duc, who urged relevant agencies to develop and implement effective revenue collection plans, focusing on curbing tax evasion, transfer pricing, and bad debts through intensified inspections and enforcement.

Moreover, Dong Nai prioritized credit quality, offering preferential loans and debt restructuring to stabilize production and business activities. Support from local authorities in removing obstacles for businesses and residents has further bolstered economic operations, thereby increasing budget revenues.

Local businesses report sustained recovery in the last two months of the year, with expanding domestic and export markets. Many companies have secured export orders through mid-2025, driving higher demand for raw materials locally and abroad. This trend boosts both import-export revenues and domestic consumption taxes.

As a result, income tax and trade-related tax collections have risen significantly, and Dong Nai is projected to surpass its 2024 revenue target by around VND 3.4 trillion, reaching over VND 58.6 trillion. Being among the top six provinces nationwide in budget contributions, Dong Nai’s excess revenue will benefit central government finances and increase local budget allocations for infrastructure projects. Priority will be given to developing key transportation routes to promote economic growth.

Beyond early budget achievements, Dong Nai is on track to complete its remaining four major economic targets by late November or early December.

Reported by K. Minh