Ho Chi Minh City’s total budget collections for 2022 reached VND471.56 trillion (nearly $20 billion), equal to 121.99 per cent of the estimate and up 23.6 per cent year-on-year.

Domestic revenue topped VND330.1 trillion ($14 billion), equal to 122.23 per cent of the estimate and a year-on-year rise of 25.3 per cent, while collections from export-import activities reached VND141.4 trillion ($6 billion), or 121.4 per cent of the estimate.

The city was assigned to collect over VND386.6 trillion ($16 billion) in 2022 State budget revenue, including VND270 trillion ($11.4 billion) from domestic sources and VND116. 5 trillion ($4.9 billion) from export and import activities.

It posted economic growth of 9 per cent, earned about $50 billion from export turnover, and saw budget collections surpass the estimate by nearly VND85 trillion ($3.6 billion).

“These figures are so impressive and deserve analyis so that similar results are recorded in 2023,” said Chairman of the municipal People’s Committee Phan Van Mai.

He attributed the results to the city’s sound control over Covid-19 since early this year, which created the conditions necessary for enterprises to conduct business and increase export turnover and deposits in banks, revealing the health and resilience of its economy.

The city is tasked with collecting VND469.3 trillion ($19.87 billion) in 2023, accounting for over 20 per cent of total State budget collections nationwide.