PM Chính Urges Accelerated State Budget Collection for 2024 Year-End

Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính has signed an official dispatch emphasizing the need to expedite state budget collection, particularly from land-related sources, as the year 2024 draws to a close. The directive aims to maximize state revenue and establish a robust foundation for achieving socio-economic objectives for 2025 and the 2026-2030 period.

Dated November 30, the document calls for a concerted effort by the Ministry of Finance and other relevant agencies to enhance revenue management, rigorously monitor tax calculation, declaration, and payment, and ensure that tax revenues are accurately and fully collected in line with legal regulations. This effort is expected to prevent losses to the state budget.

The Ministry of Natural Resources and Environment (MoNRE) has been tasked with disseminating the Land Law across localities and monitoring its nationwide implementation. The ministry will also address obstacles in enforcing the law, report unresolved issues to higher authorities, and expedite the publication of new land price lists to facilitate auctions and allocations. Strengthened inspections and enforcement against violations by state agencies and land users have also been mandated.

The Ministry of Construction is instructed to resolve challenges impeding real estate projects, particularly those with strong liquidity, commercial and social housing developments, and new urban areas. By doing so, the ministry aims to revitalize the property market and attract substantial investment, ultimately bolstering state budget revenues.

Similarly, the Ministry of Planning and Investment is tasked with addressing institutional barriers and advancing major infrastructure projects. Priority is placed on transport infrastructure and inter-regional connectivity projects, ensuring their timely completion and operationalization.

The State Bank of Vietnam will implement solutions for strengthened credit management, as outlined in Official Dispatch No. 122/CĐ-TTg. The directive includes streamlining administrative procedures for businesses and individuals in the real estate sector, facilitating credit access, and fostering sustainable market growth to enhance state revenue.

Provincial and municipal People’s Committees are required to accelerate urban and real estate planning efforts, ensuring effective and harmonious project implementation.

All ministries, agencies, and localities are directed to work collaboratively to execute government directives on socio-economic development, state budget management, and establishing a sustainable property market. They are also urged to expedite the disbursement of public investment capital for infrastructure projects under their purview.

Deputy Prime Minister Hồ Đức Phớc has been assigned to oversee the implementation of the directive and to report issues beyond his authority to the Prime Minister.

This strategic approach reflects the government’s commitment to meeting its economic targets and fostering long-term development across key sectors.