Permanent Vice Chairman of the Hai Phong City People’s Committee, Mr. Le Anh Quan, stated that in 2025, Hai Phong City will continue to effectively implement solutions to strengthen budget revenue and expenditure discipline, aiming to meet and exceed the central government’s budget revenue targets.
Mr. Le Anh Quan delivered his remarks at the Hai Phong City’s online conference hub during the conference summarizing financial and state budget tasks in 2024 and deploying tasks for 2025, held by the Ministry of Finance on December 31st.
According to Mr. Le Anh Quan, Hai Phong City’s GRDP growth rate in 2024 is estimated at 11.01%, ranking third in the country, 1.6 times higher than the national average. 2024 marks the 10th consecutive year that Hai Phong has maintained a double-digit growth rate.
Regarding the city’s financial and budget situation, Hai Phong City’s total state budget revenue reached VND 117,362 billion, 119.9% of the central government’s target. Of this, revenue from import and export activities reached VND 66,150 billion, 112.5% of the central target and a 15.2% increase compared to 2023; domestic revenue reached VND 50,071 billion, 133.2% of the central target and a 15.2% increase compared to 2023.
For local budget expenditure in 2024, as of December 29, 2024, it reached VND 33,691 billion, achieving 102.7% of the central target and 84.7% of the target assigned by the Hai Phong People’s Council. Of this, development investment expenditure was VND 17,755 billion, achieving 104.3% of the central target, 89.7% of the People’s Council target, and 84.8% compared to 2023; recurrent expenditure was VND 15,038 billion, 101% of the central target and 93.5% of the People’s Council target.
In 2024, Hai Phong’s development investment expenditure rate was estimated at 50% of total local budget expenditure. According to the 2025 state budget revenue and expenditure estimates approved by the Hai Phong People’s Council at its regular session at the end of 2024, the city’s development investment expenditure rate will reach 55% of total local budget expenditure.
Mr. Le Anh Quan said that in 2024, Hai Phong City continued to thoroughly implement measures to save recurrent spending, focusing on development investment expenditure. Nevertheless, the city’s budget still fully and promptly met expenditures for people, social welfare policies, and national target programs such as: the Model New Rural Development Program; increasing the social assistance standard and certain social assistance policies; tuition support for students from kindergarten to high school across Hai Phong City...
In 2025, to successfully complete state budget revenue and expenditure tasks, Hai Phong City will continue to effectively implement solutions to strengthen budget discipline, improve the investment and business environment, and contribute to economic growth, creating a stable and long-term revenue source for the state budget.
In addition, the city will further improve the effectiveness of the Hai Phong City Steering Committee for Prevention of Budget Revenue Loss and various anti-budget loss teams, striving to achieve and exceed the central government’s revenue targets in 2025.
The city will also focus on addressing difficulties faced by businesses, accelerating administrative reforms and digital transformation, and restructuring and streamlining the organizational apparatus to improve the effectiveness and efficiency of the political system.
Moreover, Hai Phong will proactively manage budget expenditure estimates in a positive and proactive manner, in line with the assigned estimates and the city’s actual revenue capacity. Priority will be given to allocating and disbursing public investment capital to accelerate progress and complete key projects that have a widespread impact, boosting the city’s socio-economic development; capital from projects that cannot be implemented or are slow to be implemented will be decisively reallocated to focus on key, important projects of the city with good disbursement progress...