As a result, total budget revenues in Hanoi are estimated to reach VND46,783 billion, or 53 percent of the yearly forecast, including VND41,000 billion from domestic taxes and over VND4,800 billion from imports-exports.    

To reach these figures, apart from managing its budget prudently, Hanoi’s Treasury introduced a project to update how the state collects its budget from tax agencies, the State Treasury and customs. 

In particular, Hanoi Treasury is entrusted with collecting domestic taxes from its 29 districts to commercial banks, which open accounts with the treasury, to make it easier for enterprises to pay their tax.

In the first six months, Hanoi Treasury spent over VND13,500 billion from the local budget, or 40 percent of this year’s estimate. Of this, nearly VND6,000 billion was used for investment and development and VND1,000 billion was spent on key projects to celebrate the 1,000^th anniversary of Thang Long-Hanoi.