HCMC TARGETS VND1 QUADRILLION IN BUDGET REVENUE FOR 2026

HCMC Party Secretary Tran Luu Quang speaks at a meeting chaired by General Secretary and State President To Lam on April 27 - PHOTO: SGGP

HCMC – Ho Chi Minh City is aiming for VND1 quadrillion in budget revenue and is determined to achieve double-digit economic growth this year, said Tran Luu Quang, Secretary of the HCMC Party Committee, at a meeting on April 27.

Speaking before Party General Secretary and State President To Lam, and other top Party and State officials, Quang described the targets as a strong political commitment.

Breaking down the revenue goal, Quang said the city has set a baseline target of VND964 trillion, up about 20% against 2025. To reach the VND1 quadrillion mark, the city will need to mobilize an additional VND36 trillion. The target will not rely solely on land-related revenues but will require tapping a broader range of resources to ensure sustainability.

Quang pledged that HCMC would strive to meet its targets at the highest level, reinforcing its role as the country’s primary growth engine. Despite mounting pressure from ambitious tasks, city leaders expressed confidence, citing continued attention from the Party leadership and support from central authorities. The city also signaled its intention to seek sustained backing to help the city Party organization, government and residents fulfill their mandates.

Looking ahead, HCMC is counting on new institutional momentum, including a forthcoming Politburo resolution on the city’s development in a new era, comprehensive planning frameworks, and the National Assembly’s expected passage of a special urban law.

The city is also working closely with ministries and agencies to resolve bottlenecks facing the Vietnam International Financial Center in HCMC and to address underutilized land funds, aiming to optimize resources for development.

Source: The Saigon Times