Strong determination on solid foundations

The 16th Hai Phong People’s Council for the 2021 – 2026 term has adopted Resolution No. 69/NQ-HĐND on the estimate of State budget revenue in the locality, and the collection, expenditure and allocation of the local budget for 2026 t its 32nd session.

Under the resolution, the city People’s Council decided that State budget revenue in the locality in 2026 will total 194.9 trillion VND.

Amid a domestic and international economic context that continues to intertwine opportunities and challenges, Hai Phong’s target of nearly 195 trillion VND in State budget revenue for 2026 not only demonstrates strong political determination but also reflects a long-term development vision based on firm practical grounds.

This target is built on cautious analysis closely aligned with the city’s socio-economic development reality, with clear feasibility in terms of revenue sources, growth drivers and governance capacity.

This practicality has been proven by results in 2025, when total State budget revenue in the city exceeded 187 trillion VND, surpassing the Central government’s target by 27% and increasing by 23.1% year on year, creating a solid foundation for Hai Phong to continue setting and realizing a higher revenue target in 2026.

The feasibility of the target is underpinned by a stable and increasingly deep economic growth foundation. Hai Phong has formed a relatively complete economic structure, with industry, seaports – logistics and modern services playing leading roles. More importantly, these pillars do not develop in isolation but are closely interconnected, creating continuous value chains that nurture sustainable budget revenue.

Alongside this, the city’s financial and budget management capacity is a key factor reinforcing feasibility. Budget formulation based on clear identification of revenue sources and tight linkage between revenue and expenditure discipline reflects a modern governance mindset that is cautious yet proactive.

Administrative procedure reform, modernization of tax and customs administration, and efforts to prevent revenue loss and transfer pricing not only help ensure “accurate and sufficient collection” but also create a transparent and fair environment that gives businesses confidence to invest and expand production and business activities.

Meanwhile, proactive, synchronized and well-planned infrastructure investment further stimulates economic activity, expands the revenue base, and creates a positive cycle that contributes to ensuring sustainable and long-term budget revenue.

In particular, the merger of Hai Phong and Hai Duong province opened up substantial development potential as the city effectively “doubles its strength” by combining advantages in seaports, logistics and industry with a foundation of industry, high-tech agriculture and abundant human resources. An expanded market scale, more complete supply chains and stronger investment attraction will directly increase budget revenue while enhancing the efficiency of public resource utilization.

On this basis, Hai Phong’s 2026 budget revenue target not only demonstrates strong determination in governance but also reflects a long-term vision for the city’s sustainable and prosperous development.

BUI HANH