Foreign-invested enterprises contributed the largest part of Ho Chi Minh City’s budget revenue last year, reported by the Sai Gon Giai Phong newspaper.

According to a report on budget collection results, the budget revenue of HCM City amounted to over 106.1 trillion VND (4.6 billion USD).

Part of HCM City. Photo: Duc Pham

Of the figure, foreign-invested enterprises contributed nearly 42 trillion VND (1.82 billion USD) and the domestic private sector some 35 trillion VND (1.52 billion USD).

Nearly 29.2 trillion VND (1.26 billion USD) came from State-owned enterprises, of which, centrally governed enterprises and local enterprises contributed over 18.3 trillion VND (795 million USD) and 10.9 trillion VND (474 million USD), respectively.

Revenue saw a year-on-year increase from the taxes that the businesses had to pay.

For instance, special consumption tax revenue rose 16.7 percent, while budget collection from value-added tax and business income tax increased 14.8 and 9.2 percent, respectively.

Ho Chi Minh City is the biggest business and trade hub in Vietnam.

It led other localities in reeling in foreign direct investment in 2015 with inflows of 4.5 billion USD.

Source: VNA