(HBO) – Land use levy accounts for the lion’s share of Hoa Binh province’s state budget revenue for years. The money has been used to develop local infrastructure, creating a momentum for socio-economic development.
Revenue from land auction is invested in developing the central area of Quynh Lam ward, Hoa Binh city.
In recent years, competent sectors and departments in Hoa Binh city have paid special attention to the collection of land use levy. Right from the outset of the year, the taxation bureau has joined hands with relevant authorities, districts and city to manage this source of revenue.
This year, the taxation bureau of Hoa Binh is assigned by the Government to collect 1.5 trillion VND (65 million USD) in land use levy. Meanwhile, the figure set by the provincial People’s Council was 1.7 trillion VND.
With 101 projects operating in the locality, Hoa Binh projects to gain more than 4.4 trillion VND from land use levy.
According to Nguyen Anh Tuan, deputy head of the province’s taxation bureau, as of April 30, domestic collection was over 1.14 trillion VND, accounting for 27.6 percent of the yearly estimate approved by the National Assembly, 23.8 percent of estimate adopted by the provincial People’s Council, and 121.3 percent of the figure recorded in the same time last year.
In May, the province gained some 52.3 billion VND from land use levy, or 304 percent of the figure documented in the same time in 2020./.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
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