Major brands such as Heineken Vietnam, Mercedes - Benz Vietnam, Khai Hoan Land contributed significantly to the rise of Ho Chi Minh City's domestic tax revenue in 2018.
The private sector contribute more tax payments to Ho Chi Minh City
Last year was a socio-economic success for Vietnam despite various obstacles and challenges.
According to Vietnam Financial Magazine, Ho Chi Minh City continued to maintain positive economic growth as Gross Regional Domestic Product reached 8.3 %. The regional industrial production index increased by 7.98%. Total retail sales and service revenue increased by 13%. The number of newly-established enterprises increased by 5.3%.
During the year, city’s government also continued to promote and support enterprises; particularly industry and supported industries. The authorities actively worked with scientists, enterprises and state management on economic development.
Many local enterprises successfully fulfilled their tax obligations in 2018, contributing to increased government's revenues.
The increase revenue of city's budget was largely contributed by tax obligation from many big enterprises including Khai Hoan Land Real Estate Joint Stock Company, Brewery Company Limited. Heineken Vietnam, Mercedes - Benz Vietnam Co., Ltd., Asia Commercial Joint Stock Bank, Saigon Securities Joint Stock Company, etc.
With such achievements, private enterprises are expected to have more potentials for development and will become an important driving force for the country's economy in the future.
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