(HBO) - According to the provincial Department of Taxation, the State budget collection in the first two months was estimated at 420 billion VND, reaching 10 percent of the estimate assigned by the government and 9 percent of the target set in the provincial People’s Council’s resolution, and equal to 96 percent of the collection in the same period last year.
The increase in
State budget collection helps promote socio-economic development. Photo:
A corner of Hoa Binh city.
Revenues from taxes and fees (excluding land use
fees) hit 350 billion VND (13 percent of assigned target, 12 percent of
provincial target and 84 percent of the figure for the same period last year).
Land use fees totaled 70 billion VND (5 percent of assigned target, 4 percent
of provincial target and 363 percent of the figure of the same period last
year).
Notably, 11 out of the 17 State budget revenue
sources showed increases this year, including land use fees (263 percent),
fixed revenues in communes (86 percent), fees from granting rights to mineral
exploitation (59 percent), non-agricultural land use tax (31 percent), lottery
(24 percent), personal income tax (11 percent), and environmental protection
tax (17 percent). Tax collection from local State-run businesses was up 100
percent.
The taxation department will propose measures to
the provincial People’s Committee on reforming mechanisms, policies and administrative
procedures to encourage and attract investment, develop business production,
promote economic growth, thus creating more revenue sources for the State
budget.
It will coordinate measures to implement more
effectively policies of the government and provincial People’s Committee on
stabilizing macro economy, increase support for businesses, promptly remove
their difficulties, and facilitate business and production activities.
The department will step up measures to prevent budget
collection loss, contributing to curbing inflation, maintaining macroeconomic
stability and ensuring social welfare. It will also push ahead with the
modernization of tax management alongside with administrative procedure reform.
In March, the taxation sector aims to collect
350 billion VND for the local State budget to increase the three-month revenue
to 770 billion VND, meeting 18 percent of assigned target, 16 percent of
provincial target and a year-on-year rise of 6 percent, according to Nguyen Anh
Tuan from the Taxation Department./.
Hoa Binh province’s economy posted an impressive Gross Regional Domestic Product (GRDP) growth rate of 12.67% in the first quarter of 2025, representing a 12.76% year-on-year increase, the highest rate recorded since the beginning of the current tenure, according to the provincial Statistics Office. This robust growth reflects years of strategic groundwork and sets a strong foundation for the province’s annual growth target of over 10%.
With a focus on cash crop farming with science - technology application and brand building, Lac Thuy district is gradually increasing production value, improving people's life quality, and laying the foundation for sustainable socio-economic development.
In recent years, the economic development model "Hoa Binh Earthworm Farm” run by Mr. Bui Van Dang in Co Giua Hamlet, My Thanh Commune (Lac Son district) has not only brought stable economic value but it is also environmentally friendly, helping to protect and reduce pollution, contributing to the construction of a green and sustainable agriculture.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
