Ha Noi's budget revenue posts robust 54% growth in first five months

ABO/NDO- Ha Noi recorded strong performance in five-month revenue from domestic sources, which reached 346.9 trillion VND to account for 73.2% of the annual target and mark a 55.4% year-on-year increase.

Ha Noi’s state budget revenue exceeded 362.1 trillion VND (approximately 14.2 billion USD) in the first five months of 2025, meeting 71.6% of the full-year target and soaring 54.4% compared to the same period in 2024.

Figures released by the Ha Noi Statistics Office highlight strong performance in revenue from domestic sources, which reached 346.9 trillion VND, accounting for 73.2% of the annual target and marking a 55.4% year-on-year increase. Significant contributors included the non-state business sector with 72 trillion VND (up 45.1%), personal income tax 29.3 trillion VND (up 25.5%), and land use fees 68.3 trillion VND (7.4 times higher than the same period last year).

Ha Noi’s state budget revenue exceeded 362.1 trillion VND (approximately 14.2 billion USD) in the first five months of 2025, soaring 54.4% from a year earlier. (Illustrative image: VNA).

Revenue from state-owned enterprises stood at 41.3 trillion VND, or 51.3% of the yearly target, down 2.9% year-on-year. Foreign-invested firms contributed 17 trillion VND to the state budget, reflecting a 12.9% rise and fulfilling 55.9% of the target. The non-state sector continued to demonstrate solid performance, maintaining momentum with 72 trillion VND in contributions, equivalent to 70% of the target and increasing 45.1%.

Additional sources of revenue included vehicle registration fees valued at 3.2 trillion VND, up 12%, while fee and charge collections totalled 9.8 trillion VND, down 2.6%.

Industrial activity also showed encouraging signs of recovery. The Index of Industrial Production (IIP) in May edged up 0.8% from April and rose 7.2% year-on-year. Cumulatively, the IIP for the first five months increased 5.5%, led by a 5.5% rise in the manufacturing and processing sector. Machinery and equipment manufacturing jumped 28.3%, textile production rose 14%, and motorised vehicle manufacturing expanded by 12.9%.

In the agricultural sector, the city maintained nearly 128,000 ha of spring crop cultivation. Despite a modest decline in the rice area due to land-use changes, the crop restructuring toward higher-value crops, perennial plants, and aquaculture boosted overall production value. The poultry population reached 37 million, up 2.1% from a year earlier.

Aquaculture remained on a steady growth trajectory, with May’s output estimated at 10,600 tonnes. Total output for the five-month period hit 49,000 tonnes, a 3.9% year-on-year increase, statistics show.

(Source: NDO)