Vinh Phuc economy accelerates: Budget revenue exceeds 11,600 billion VND

(Chinhphu.vn) - In the context of many fluctuations in the international economy, Vinh Phuc has collected more than 11,600 billion VND in state budget revenue after the first 4 months of 2025. This result clearly reflects the drastic, flexible and creative management efforts of the provincial leaders, while opening up prospects for sustainable growth.

Chairman of the Provincial People's Committee Tran Duy Dong inspected the site clearance work of Nam Binh Xuyen Industrial Park.

Active management, budget collection reaches nearly half of the annual plan

According to Vinh Phuc 's statistical report, in the first four months of 2025, Vinh Phuc's total state budget revenue reached VND 11,645 billion, equal to 43.1% of the estimate assigned by the Central Government and the Provincial People's Council, an increase of 4.8% over the same period in 2024. It is worth noting that this figure is also equivalent to 36.3% of the double-digit growth target set by the province in this year's striving scenario.

In particular, if including the tax payment extension according to the Government's Decrees, the total budget revenue is estimated at 11,550 billion VND, equal to 52.4% of the annual estimate and 119.4% compared to the same period last year. This is a very encouraging result in the context of the world and domestic economy still facing many difficulties, the US's reciprocal tax policy has a strong impact on many businesses in the province.

Next, the revenue structure shows stability from production and business with revenue reaching VND8,441 billion, equal to 49.4% of the estimate and up 12.5% ​​over the same period. When adding the extended amounts, this figure reaches VND9,491 billion. The production and business sector currently accounts for 82% of the total domestic revenue of the province.

In particular, the FDI sector continues to affirm its pivotal role. Revenue from this sector in the past 4 months is estimated at VND 7,220 billion (47.2% of the estimate), if adding the extension, it will reach VND 8,205 billion (53.6% of the estimate), accounting for 86% of revenue from production and business. This major contribution comes from two key enterprises, Honda and Toyota, with total tax payment reaching VND 6,720 billion, an increase of more than VND 1,600 billion over the same period.

In addition, the non-state enterprise sector also had positive changes. Corporate income tax increased by 22.4% (an increase of VND261 billion), notably the Asia-America Industrial Joint Stock Company (an increase of VND128 billion) and the Kehin Company (an increase of VND19 billion).

Furthermore, this positive result clearly reflects the improved quality of economic management and the enhanced production and business capacity of enterprises. The provincial government has promptly resolved difficulties and coordinated with ministries and branches to promote an open and stable investment environment.

Synchronized solutions promote sustainable growth and revenue

Based on positive budget collection results, Vinh Phuc province has clearly identified strategic directions for 2025 and the following years.

Mr. Nguyen Khac Hieu, Vice Chairman of Vinh Phuc Provincial People's Committee said: Following the direction of the Government , Vinh Phuc continues to promote the spirit of innovation, strengthen institutional reform, promote decentralization, maintain financial and budgetary discipline, and especially not let the international situation affect the growth target.

The Provincial Party Committee and Provincial People's Committee have assigned specific targets, requiring departments, branches and localities to develop a GRDP growth plan of 10-11%, higher than the 9% assigned by the Government.

Next, the province set a budget revenue target of VND32,100 billion in 2025, an increase of VND5,000 billion compared to the plan assigned by the People's Council. In addition, it aims to attract USD800 million in FDI and VND5,000 billion in DDI. Thus, increasing the scale of investment and credit becomes a key foundation to maintain growth momentum.

The province focuses on removing bottlenecks to accelerate. Specifically, it will review growth potential and accelerate the progress of 32 FDI/DDI projects, 30 public investment projects, 16 industrial infrastructure projects, and 47 urban and social housing projects. In 2025 alone, Vinh Phuc plans to start construction on more than 2,000 social apartments.

Administrative reform activities are given special attention. The province will soon complete the organization and apparatus arrangement, clearly decentralize power, and coordinate with Phu Tho and Hoa Binh provinces to adjust the appropriate administrative model. This will not only help ensure service to businesses and people but also maintain the common growth target of the region.

In addition, the government has increased dialogue with businesses. The Provincial People's Committee organized four thematic meetings at the beginning of the year to promptly resolve problems. At the same time, documents guiding the implementation of new policies were quickly issued, with special attention paid to removing bottlenecks in land, site clearance and digital transformation.

Not stopping there, the province also considers public investment disbursement as a key task. Following the direction of the Prime Minister (Official Dispatch 112/CD-TTg), Vinh Phuc has promoted investment in inter-regional transport systems, electricity infrastructure, clean water supply and waste treatment, serving to attract high-tech projects.

At the same time, the province has also reviewed policy mechanisms to prioritize semiconductor industry projects, a field with potential for breakthroughs. Cooperation in training high-quality human resources has been promoted, with the participation of large corporations in training in the fields of engineering, logistics, electronics, and mechanics.

When the United States issued a decree imposing the highest level of reciprocal tariffs on Vietnam, it had a major impact on export businesses. Vinh Phuc immediately established a rapid response team to review 73 directly affected businesses (with a turnover of over 500 million USD) and many other indirect businesses.

The province then held meetings, including a direct dialogue session, to resolve difficulties. Measures to promote trade, develop e-commerce, stimulate consumption, and support market diversification were quickly implemented.

"Vinh Phuc has oriented to expand exports to potential markets such as the Middle East, Eastern Europe, South Asia, Egypt and South America to avoid over-reliance on a single country. At the same time, the tourism industry is also promoted through international promotion and connection to attractive destinations," said the Vice Chairman of Vinh Phuc Provincial People's Committee.

Mr. Minh

Source: https://baochinhphu.vn/kinh-te-vinh-phuc-tang-toc-thu-ngan-sach-vuot-moc-11600-ty-dong-102250509195927822.htm