Focus on solutions to increase budget revenue, manage credit in the last months of the year, strive to achieve double-digit growth target

Conference scene. Photo: The Hung

According to the report of the Tax Department of Region VIII, by the end of the first quarter of 2025, the total budget revenue in the province reached more than 9.9 trillion VND, equal to nearly 37% of the ordinance estimate, exceeding 14% over the same period. Of which, domestic revenue was nearly 8.7 trillion VND, reaching over 39% of the ordinance estimate and exceeding 14% over the same period. Revenue from import and export reached more than 1.2 trillion VND, equal to nearly 25% of the ordinance estimate and exceeding approximately 16% over the same period.

Chairman of the Provincial People's Committee Tran Duy Dong speaks at the conference. Photo: The Hung

Based on the revenue forecast of the Tax and Customs sectors, completing the state budget revenue estimate for 2025 assigned by the Central Government of over VND 27 trillion is feasible. However, completing the target of striving for double-digit growth scenario of the province with revenue of VND 32.1 trillion will face many difficulties. The reason is that the international economic and political situation, the US tariff policy leading to disruption of the supply chain of goods, input material costs, transportation costs... causing the production and business activities of most enterprises in the province, especially FDI enterprises, to be seriously affected.

Regarding the banking sector, in the first quarter of 2025, the State Bank of Vietnam, Region IV Branch, will continue to operate monetary policy flexibly, proactively and effectively; maintain operating interest rates to create conditions for credit institutions to access capital from the State Bank at low costs, contributing to supporting the economy.

By the end of March 2025, the total mobilized capital in the province reached nearly 393 trillion VND, an increase of 1.63% compared to the end of 2024. The total outstanding loans in the whole area reached nearly 149 trillion VND, an increase of nearly 5 trillion VND (approximately 3.5%) compared to December 2024, accounting for nearly 34% of the total outstanding loans of region IV. Interest rates for priority sectors are commonly at 3.5 - 4%/year for short-term loans; 5 - 6.5%/year for medium and long-term loans; the average lending interest rate for production and business sectors is from 5 - 6.5%/year for short-term loans and 8 - 10%/year for medium and long-term loans.

Representative of the Tax Department of Region VIII speaking at the conference. Photo: The Hung

Speaking at the conference, representatives of the leaders of departments, branches and units highlighted the bright spots in the province's economic picture in the first quarter of 2025 and frankly pointed out the difficulties and obstacles to achieving the double-digit growth target. On that basis, they proposed key solutions and advised the Provincial People's Committee to pay attention to the revenue sources of potential areas.

Representatives of some commercial banks pointed out difficulties in implementing credit growth, especially lending to the production and business sector; the progress of debt settlement through the court and enforcement agencies is still slow; the implementation of loan packages to support people and businesses has not been highly effective; fierce competition between banks has led to lowering lending standards; the impact of the US's reciprocal tariff policy on exchange rates and interest rates of banks...

Representative of Vinh Phuc Customs Branch speaking at the conference. Photo: The Hung

Concluding the conference, Chairman of the Provincial People's Committee Tran Duy Dong acknowledged the efforts of all levels and sectors in implementing the task of budget collection and flexibility in credit management, contributing to promoting the socio-economic development of the province in the first quarter of 2025.

He requested departments, branches and sectors to continue promoting solutions to boost economic growth, closely follow and firmly achieve the double-digit growth target in accordance with the Government's direction, and not be affected by the process of merging administrative units.

Relevant levels and sectors need to focus on removing difficulties and obstacles for projects, especially determining land prices to increase revenue for the province from land rent. Departments and sectors closely monitor the world economic and political fluctuations, especially the US tariff policy, update information, and promptly report to the Chairman of the Provincial People's Committee to have flexible adaptation measures.

The Tax and Customs sectors continue to proactively advise and propose to the Provincial People's Committee solutions to increase revenue, prevent revenue loss and tax arrears; review potential revenue sources; promote the application of electronic invoices generated from cash registers; strengthen inspection of e-commerce business activities...

Representative of the State Bank of Region IV speaking at the conference. Photo: The Hung

Chairman of the Provincial People's Committee Tran Duy Dong assigned the Department of Industry and Trade to regularly discuss and grasp the production and business situation of Toyota Vietnam Automobile Company and Honda Vietnam Company, update and promptly report to the Chairman of the Provincial People's Committee; assigned the Department of Construction to focus on completing procedures related to zoning planning, detailed planning, coordinate with specialized agencies to determine land prices to serve the implementation of projects; requested the leaders of the State Bank of Vietnam Region IV, leaders of commercial banks in the area to continue to make efforts to manage operations, maintain stable lending interest rates, focus on production and business, priority areas, green growth, social housing, development of industrial parks, lending to agriculture and rural areas, creating livelihoods for people.

Focus on digital transformation, adjust procedures and processes for reviewing appraisal documents, proactively develop loan packages with preferential interest rates; diversify banking products; promote the role of participating in regulating the gold market; strengthen inspection and supervision of the monetary market... contributing to social stability and promoting socio-economic development.

Viet Son

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/127107/Tap-trung-cac-giai-phap-tang-thu-ngan-sach-dieu-hanh-tin-dung-nhung-thang-cuoi-nam-phan-dau-dat-muc-tieu-tang-truong-2-con-so