Ho Chi Minh City: Budget revenue for the first 10 months reached over 97%.

Despite the challenging economic situation, Ho Chi Minh City's budget revenue reached a high level in the first 10 months of 2025, with domestic revenue continuing to be a bright spot.

The scene at the meeting. Photo: NL

On October 31st, the People's Committee of Ho Chi Minh City held its regular meeting on socio -economic issues for October and the first 10 months of 2025; and key tasks and solutions for November 2025.

Reporting at the meeting, Deputy Director of the Ho Chi Minh City Department of Finance, Hoang Vu Thanh, stated that total state budget revenue in the past 10 months reached VND 652,509 billion, achieving 97.2% of the central government's projected target, 93.6% of the city's People's Council's projected target, and 115.5% compared to the same period last year. Domestic revenue continued to be a highlight, with cumulative revenue for the first 10 months estimated at VND 468,399 billion, reaching 98.5% of the projected target and 122.5% compared to the same period last year, with 16 out of 18 revenue items meeting or exceeding targets.

Total retail sales of goods and consumer service revenue in October are estimated at VND 172,272 billion, an increase of 13% compared to the same period in 2024. Of this, retail sales of goods are estimated at VND 86,931 billion, an increase of 12.2%; accommodation and food services are estimated at VND 20,357 billion, continuing to maintain high growth, increasing by 25.7% compared to the same period… For the first 10 months of the year, total retail sales of goods and consumer service revenue are estimated at VND 1,574,515 billion, an increase of 15% compared to the same period in 2024.

Deputy Director of Ho Chi Minh City Department of Finance, Hoang Vu Thanh, reports at the meeting. Photo: NL

Regarding export activities, in the first 10 months, the export turnover of businesses in the city through ports and border gates nationwide is estimated at 76.23 billion USD, an increase of 4.8% compared to the same period in 2024. The cumulative import turnover in the first 10 months is estimated at 80.87 billion USD, an increase of 5% compared to the same period in 2024.

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However, according to relevant authorities, export activities are facing a major challenge from the US imposing a 20% retaliatory tariff from August 7, 2025, which increases costs and reduces the price competitiveness of Vietnamese goods in this market.

In the industrial sector, the city's key industries all recorded good growth. The Industrial Production Index (IIP) in October is estimated to have increased by 1.5% compared to the previous month and by 17.5% compared to the same period in 2024. For the first 10 months of 2025, the IIP is estimated to have increased by 7.5% compared to the same period.

Regarding the implementation of public investment capital, the city has completed the detailed allocation and distribution according to the capital level assigned by the Prime Minister , with a total implemented capital of over 151,925 billion VND (including both central and local budgets), reaching 128% of the capital level assigned by the Prime Minister (over 118,948 billion VND).

As of October 24th, the city's disbursement of public investment capital reached 62,741 billion VND, achieving 52.7% of the capital plan assigned by the Prime Minister.

Permanent Vice Chairman of Ho Chi Minh City People's Committee Nguyen Van Tho delivers concluding remarks at the meeting. Photo: NL

Concluding the meeting, the Standing Vice Chairman of the Ho Chi Minh City People's Committee, Nguyen Van Tho, stated that the workload from now until the end of the year is very large, therefore, all levels and sectors need to make greater efforts and show more determination.

Mr. Nguyen Van Tho stated that the city will continue to implement the plan to reorganize administrative units at all levels and build a two-tiered local government model. The city prioritizes solutions to promote growth, steadfastly pursuing the target of GRDP growth of 8.5% or higher in 2025.

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Simultaneously, the city is focusing on removing obstacles for projects, accelerating the progress of key projects; speeding up the disbursement of public investment capital, developing infrastructure, and using public investment to lead, activate, and effectively attract and utilize social resources.

The Standing Vice Chairman of the Ho Chi Minh City People's Committee also requested that all levels, sectors, localities, and units continue to focus on stronger and more substantive administrative reforms, removing obstacles to production and business activities, and enhancing the competitiveness of the economy.

Source: https://hanoimoi.vn/tp-ho-chi-minh-thu-ngan-sach-10-thang-dat-hon-97-721667.html