HANOI REPORTS RECORD-HIGH BUDGET REVENUE IN 2025

Hoan Kiem Lake in Hanoi City - PHOTO: VNA

HCMC – Hanoi’s budget revenue is estimated to reach VND641.7 trillion in 2025, the highest level ever recorded and nearly 25% above the revised target, according to a report by the municipal government.

Data from the city’s socioeconomic performance review shows that total state budget collections in 2025 are projected to reach 124.9% of the adjusted plan and rise 24.9% from 2024, the Vietnam News Agency reported. The strong revenue performance is expected to provide resources for investment, fiscal stability, and social welfare.

In the first 11 months of the year, Hanoi collected VND625.2 trillion, surpassing the initial target by 21.6% and increasing 39.6% year-on-year. Domestic revenue alone reached VND587.7 trillion, up 40.8% from a year earlier. Oil revenue amounted to VND2.5 trillion, while revenue from import–export activities totaled VND34.7 trillion, up 31.1%.

The city attributed the growth to a strong economic rebound in 2025, with robust GRDP expansion, improved tax administration, and stronger efforts to curb revenue losses through digital transformation and tighter oversight of e-commerce, retail, and emerging business sectors.

Hanoi’s total local budget spending in 2025 is estimated at VND166.2 trillion. Of this, development investment accounts for VND89.2 trillion, up 46.8% from 2024, mainly allocated to key infrastructure projects such as Ring Road No. 4 and major transport, healthcare, and education facilities.

For 2026, the city targets budget revenue of VND546.93 trillion. Hanoi plans to continue expanding sustainable revenue sources, streamline administrative procedures, support businesses, and enforce the revised Capital Law to mobilize resources for development.

Source: The Saigon Times