In 2024, the estimated state budget revenue in the province assigned by the People's Council of Vinh Phuc province is 31,765 billion VND. Of which, domestic revenue is 26,365 billion VND; revenue from import-export activities is 5,400 billion VND.
To effectively carry out the 2024 budget collection task, right from the beginning of the year, the People's Committee of Vinh Phuc province has directed departments, branches and localities to support and create favorable conditions for enterprises to promote production and business to nurture revenue sources; the Tax sector promptly removed difficulties and obstacles for taxpayers, focused on drastically implementing solutions to manage collection, exploit revenue sources, prevent revenue loss and speed up the recovery of tax arrears.
According to statistics, in the first 10 months of 2024, the total state budget revenue in Vinh Phuc province reached over 21.3 trillion VND, an increase of more than 10.4% over the same period. Of which, domestic revenue reached over 17 trillion VND, an increase of nearly 10.5% over the same period.
It is expected that by the end of 2024, the total state budget revenue of Vinh Phuc province will reach over 30.2 trillion VND, equal to about 95% of the assigned estimate.
Analysis by professional agencies shows that the reason why the task of collecting the State budget in Vinh Phuc province is facing many difficulties is because the world situation continues to have complicated developments, economic competition, and trade competition are more fierce, posing many potential risks to business operations.
The decrease in global and domestic consumption demand has led to many difficulties in industrial production, especially the province's key products, in finding consumption markets, so it has to reduce production scale and output compared to the same period, leading to a decrease in revenue from businesses.
In addition, the province's budget revenue is not really sustainable, and still depends heavily on a few large enterprises. When these enterprises encounter difficulties or adjust their production and business activities, it also leads to large fluctuations in the province's budget revenue; the situation of tax arrears and violations of tax laws still occurs and becomes increasingly complicated...
Faced with the above situation, in order to strive to fulfill the assigned budget collection task in 2024, as well as to nurture and sustainably develop revenue sources for 2025 and the following years, Vinh Phuc province is resolutely directing all levels, sectors and localities to synchronously deploy many solutions.
Focusing on improving the investment environment, enhancing the province's competitiveness; creating advantages in attracting direct and indirect investment capital from abroad.
Implement well the planning and complete the infrastructure to attract investment. Promote administrative procedure reform, create the most favorable conditions for investors to invest in the province.
Modernize investment promotion activities in an effective, focused direction, focusing on potential partners; attract strategic investors with capacity, experience, finance, transnational corporations with high technology, source technology, green technology that is friendly to the environment.
Continue to effectively implement programs, projects, and plans to support business development, especially small and medium enterprises in the province; regularly contact, listen, and dialogue with businesses, grasp problems and difficulties to resolve or propose timely and effective solutions.
Develop policies to support capacity building for enterprises in the manufacturing, high-tech, and information technology industries; mechanisms to encourage enterprises to innovate technology such as support for land, connecting traffic infrastructure, connecting input enterprises, and promoting market search.
Along with that, promptly and effectively implement solutions to support people and businesses to restore production and business, create momentum for economic development, and nurture revenue sources.
Vinh Phuc is also promoting the application of information technology and digital transformation in the management of budget revenue and expenditure to ensure transparency, improve the effectiveness and efficiency of budgetary financial management in the area.
