State budget revenues set to flourish

12/26/2021 - 12:29:49 PM

(HBO) - After two consecutive years (2019, 2020) of falling short of announced goals in the province’s state budget collection, works for the current year pledge to flourish despite compounded difficulties, thanks to efforts and political determination by all sectors and levels. Accordingly, state budget collection is set to achieve and even out-perform targets.

This year witnesses higher import-export tax collection than estimates tasked by Prime Minister, contributing to bright performing prospects of the province’s state budget revenues (Photo taken at Hai Hien Bamboo and Wood joint-stock company – Hoa Binh City).

In 2021, the People’s Council resolution set state budget collection target in the province at 5.070 billion VND, an increase by 711,6 billion VND from estimates allocated by the Prime Minister (PM), including domestic revenues of 4.820 billion VND, import-export tax revenues of 250 billion VND. The set target is by all means a hard task given the complex COVID-19 pandemic creating widespread disruptions. The revenue collection was also impacted by the implementation of Decree No. 52/2021/ND-CP on tax payment and land rental deferrals. Moreover, the water levels of Hoa Binh Reservoir plummeted, leading to drastic drops in power generation, meaning massive decreases in budget revenues.

Early grasp of challenges as well as clarity in determining state budget collection as the core political tasks steered the provincial Party and People’s Committees to promulgate Resolution No. 02-NQ/TU on May 31 2021 to set guidelines for the revenues creation and collection during 2021-2025 period. Departments, sectors, localities are directed to collaborate closely with tax authorities in state budget collection.

By the end of November, import-export tax revenue alone reached over 380 billion VND, 190% of assigned estimates by the PM. Domestic revenues reached 3.570,8 billion, or 86% of estimates by the Government. Compared to targets set by the provincial authorities, 11 out of 17 categories of revenues boasted higher than average collection rates, some impressive increases.

The Provincial Tax Department is boosting efforts and solutions, including increased crackdowns trade frauds and smugglings, to outperform the set targets of state budget collection in the remaining days of the year.

Workers excited to return to work after Tet

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.

Sweet, fragrant red grapefruit of Tan Lac

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

Business association pledges support for local firms

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 focuses on rural transportation infrastructure development

Hoa Binh province is prioritising rural transportation infrastructure to improve mobility, facilitate trade, and boost socio-economic development.

Two products in Hoa Binh have been recognized as “National OCOP products”

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).

Bustling Tet market

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.