The State budget collection in Hoa Binh province has received constant attention and directions from the provincial Party Committee, People’s Council and People’s Committee, the Ministry of Finance and the General Department of Taxation, along with effective coordination from all-level administrations and sectors.
By the end of May 2024, the state budget revenue was estimated at 2.88
trillion VND (nearly 113.23 million USD), equivalent to 71% of this year’s
target set by the Prime Minister, 50% of the target set by the provincial
People’s Council, and 196% of the figure in the same period last year.
Hoa Binh has
recorded relatively good budget collection from many sources such as the
foreign invested sector, the industry, trade and non-state sectors, personal
income tax, environmental protection tax, charges, fees, and land use fees.
The state budget collection so far this year has
posted breakthroughs compared to the same period last year. However, it is a
fact that revenue sources remain unsustainable and still depend much on land
use fees and the Hoa Binh Hydropower Company. Meanwhile, tax arrears remain
very high. Two-thirds of the 2020 - 2025 tenure has passed, but Hoa Binh failed
to achieve the budget collection targets for some years. Therefore, it is hard
to reach the revenue target of 10 trillion VND for 2025.
At many forums and meetings, the provincial
Party Committee, People’s Council, and People’s Committee discussed causes of
the poor performance in budget collection. One of the main causes is that the
nurturing of revenue resources remains limited. Changes in the collection
policy in recent years also form one of the causes. Others include the slow
implementation of industrial park and cluster projects, ineffective investment
attraction, some investors’ weak capacity, and businesses’ small and medium
sizes, limited financial capacity, and slow recovery from impacts of the
COVID-19 pandemic.
The state budget collection plays a highly
important role in ensuring resources for local socio-economic development.
Increasing the revenue aims to improve the quality of people’s life, build
modern and comprehensive infrastructure, guarantee local budget efficiency, and
gradually reduce the dependence on support from the government. Therefore, it
is considered a task of leading importance.
To speed up the state budget collection to
fulfill this year’s task and secure collection sustainability, the Hoa Binh
steering board for promoting the state budget collection and contribution said
firstly, it is necessary to complete zoning plans to serve as the basis for
implementing projects. It is important to accelerate land auctions, land use
fee collection, and the re-organisation of state agencies’ properties;
implement comprehensive measures to strictly manage local revenue sources; and enhance
inspection and examination to prevent tax losses and evasion so as to bring tax
arrears to less than 8% of the total state budget collection.
Another measure is to step up communications and
tax management over online business, e-commerce, telecommunication and internet
services, and especially the use of e-invoices.
The province’s viewpoint is to diversify revenue
sources to promote economic sectors’ contributions to the state budget and
ensure collection sustainability.
As enterprises, cooperatives, and investment
projects are the main and long-term source of budget collection, authorities
also need to create favourable conditions for those taxpayers to operate
profitably to nurture revenue sources.
After the Lunar New Year (Tet) holidays, trade union members and workers in Hoa Binh province returned to work with an excited spirit at the beginning of the new spring. Throughout the workshops, factories and enterprises, they were full of enthusiasm, immediately getting to work, striving to excellently complete tasks and production and business targets.
Red grapefruit is a native crop of Tan Lac district, where the fertile soil and favourable climate create ideal conditions for its growth. With over 80% of the area being mountainous, at an altitude of 300-400 metres above sea level, red grapefruits here thrive on well-drained, fertile hillside soil. The region’s large temperature variation between day and night enhances the fruit's nutrient absorption. The local cultivation techniques also contribute to its uniqueness
The provincial business association recently convened a conference to review its 2024 operations and outline plans for 2025. The meeting was attended by Standing Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Duc Hinh along with leaders from various departments and agencies.
Hoa Binh province is prioritising rural transportation infrastructure to improve mobility, facilitate trade, and boost socio-economic development.
The Minister of Agriculture and Rural Development has just issued Decision No. 377/QD-BNN-VPĐP approving the results of the evaluation and classification of the products of the National One Commune One Product Program in 2024 (phase 3).
As the Lunar New Year (Tet) approaches, the market becomes more vibrant than ever. In Hoa Binh province, preparations for Tet have been bustling since the 20th of the last lunar month, with an abundant supply of goods to meet the growing consumer demand.
