Crude oil, real estate drive HCM City’s budget collection
Surging crude oil prices and earnings from real estate have pushed up Ho Chi Minh City’s state budget collection by nearly 15 percent in the first two months of 2022, as compared with the corresponding time last year.
Hanoi (VNA) – Surging crude oil prices andearnings from real estate have pushed up Ho Chi Minh City’s state budgetcollection by nearly 15 percent in the first two months of 2022, as comparedwith the corresponding time last year.
The municipal Statistics Office reported that the southerneconomic hub collected some 88.04 trillion VND (3.85 billion USD) in Januaryand February, completing 22.8 percent of the estimate for the whole year.
The city’s domestic collection reached 66.32 trillionVND, meeting 25.6 percent of the estimate and up 17.2 percent year-on-year.
Of the amount, State-owned enterprises contributedaround 6.17 trillion VND, 23.5 percent of the estimate and up 28 percentyear-on-year. Meanwhile, 18.01 trillion VND came from private firms, 26.8percent of the estimate and a drop of 6.7 percent. The FDI sector contributed14.43 trillion VND, 26.8 percent of the estimate and down 7.9 percent.
Notably, the city earned 3.21 trillion VND fromcrude oil in the months, a year-on-year rise of 77.7 percent; and exports and imports amounted to 18.5 trillion VND, up 1.4 percent.
Local budget revenue stood at 27.28 trillion VND,16.2 percent of the estimate and up 79.2 percent from the same period lastyear.
Meanwhile, HCM City’s budget spending decreased 39.6percent to 5.78 trillion VND, or 5.8 percent of the estimate.
The office explained that the city has yet to rollout a plan on budget allocation for development investments in 2022, leading toa drop in budget spending.
It suggested authorities quickly speed up the implementationof the capital allocation plan to push ahead with the disbursement of publicinvestments./.
The Ho Chi Minh City Department of Tourism on March 1 announced the 8th municipal ao dai (traditional long dress) festival will kick off on March 5 and last until April 15.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Photo: VNA) 
