Always create maximum conditions for Ho Chi Minh City to develop

On December 15, the Ministry of Finance 's working delegation led by Minister Ho Duc Phoc had a working session with the Ho Chi Minh City People's Committee on the socio-economic development and state budget and finance situation.

Regarding the socio-economic development situation in the city, Chairman Phan Van Mai said: In 2023, the city's economic growth (GDP) will increase by 5.81%, the industrial index will increase by 4.6%, and key industries will increase by 7.4%. Total retail services will increase by 10.84%. Revenue from tourism activities will increase by 22%, and goods through seaports will increase by 5.59%.

Regarding the state budget revenue and expenditure situation, Chairman Phan Van Mai said that the total state budget revenue in the city is expected to reach about 439,000 billion VND, equal to 93.53%; domestic revenue reaches 98.5% of the estimate; state budget expenditure is estimated at about 126,000 billion VND, an increase of 26.7% compared to 2022. In particular, public investment expenditure to implement infrastructure projects also helps create growth momentum for the city.

Clarifying the public investment expenditure, Mr. Phan Van Mai said that according to the total assigned figure of over 70,000 billion VND, after deducting ODA capital, there is over 68,000 billion VND left and up to now, the expenditure has reached 35,000 billion VND (52%).

“From now until the end of December, the expenditure tasks related to site clearance will be basically completed. By the end of the year, we will strive to reach 80% (not reaching the set target of 95%). Thus, balancing the state budget revenue and expenditure in the city will face many difficulties,” said the Chairman of Ho Chi Minh City.

Chairman of Ho Chi Minh City People's Committee Phan Van Mai speaks at the conference.

Regarding the 2024 plan, Chairman Phan Van Mai said that the city has set a growth target of about 7.5 - 8%. In 2024, revenue is expected to increase more than 2023. This is an extremely challenging task, but the city will make every effort to implement it and hopes to have close coordination with the Ministry of Finance, promptly remove mechanisms and policies for the city to develop.

In particular, Ho Chi Minh City proposed to have an orientation to approach new generation ODA capital sources or international credit sources to solve the capital needs for large projects. Chairman Phan Van Mai gave an example of the project to build an urban railway system with the target of building 220km of urban railway by 2035, but currently only 20km has been built.

Therefore, Ho Chi Minh City wishes to access ODA capital sources or other suitable sources to complete the large investment task for development.

Minister of Finance Ho Duc Phoc spoke at the conference.

At the Conference, Minister Ho Duc Phoc said that the Ministry of Finance always identifies Ho Chi Minh City as the country's economic locomotive, an economic center with great influence on the country's economy, so it always creates maximum conditions for the city to develop, thereby supporting the development of other localities.

The Ministry of Finance always accompanies the City to take quick, breakthrough but tight steps. The Minister believes that, in the face of many difficulties, the City's socio-economic development results in 2023 are good.

The Minister suggested that the City closely follow the draft Land Law (amended) because when promulgated, it will directly affect the development of the City. Regarding the transfer of decentralization of public asset use, whether it is possible to delegate authority to the district and commune levels, the Minister suggested that the City implement according to current laws .

Source: https://www.nguoiduatin.vn/bo-truong-tai-chinh-luon-tao-dieu-kien-toi-da-de-tphcm-phat-trien-a640859.html