HANOI POSTS RECORD BUDGET REVENUE OF OVER VND700 TRILLION IN 2025

An aerial view of downtown Hanoi - PHOTO: HANOI.GOV.VN

HCMC – Hanoi City reported record-high state budget revenue of VND704.6 trillion in 2025, up more than 37% from the previous year, according to the city’s official portal.

This marked the first time the capital’s annual budget revenue surpassed the VND700-trillion mark. The figure also exceeded the assigned estimate by more than 37%, making Hanoi the second-largest budget contributor nationwide after HCMC, which collected over VND800 trillion.

Domestic revenue accounted for the bulk, reaching VND662.3 trillion. Revenue from exports and imports totaled VND38.9 trillion, while crude oil contributed VND2.48 trillion.

Land-use fees emerged as the fastest-growing revenue source. By late November, the city estimated land-related revenue at VND89 trillion, a year-on-year increase of 167%, outpacing growth in domestic taxes, trade-related revenue and oil. The surge coincided with the rollout of multiple real estate projects across the city.

On the spending side, Hanoi disbursed VND155.7 trillion in 2025, up 46% from 2024. Of this, development investment spending reached VND85 trillion, exceeding the Government-assigned target by about 1.6%. Recurrent expenditure stood at more than VND70.5 trillion.

City authorities said the revenue and spending performance helped ensure sufficient resources for socio-economic development, social welfare programs and public administration. The budget outcome also supported Hanoi’s economic growth, with gross regional domestic product (GRDP) expanding by 8.16% in 2025.

For 2026, Hanoi has been assigned a budget revenue target of VND650.1 trillion and local budget spending of more than VND236 trillion. The city aims to achieve GRDP growth of at least 11%, laying the groundwork for double-digit expansion during the 2026–2030 period.

Source: The Saigon Times