Nguyen Duc Chi, Deputy Minister of Finance of Vietnam, recently announced the latest progress on national budget collection at a press conference. According to Deputy Minister Chi’s report, the national budget collection has reached 85% of this year’s estimate. This figure indicates that Vietnam’s fiscal revenue situation remains stable, providing strong economic support for various national initiatives.

At the press conference held on September 27, Deputy Minister Chi expressed full confidence in this year’s budget collection work. He clearly stated that this year’s national budget collection target would definitely be met. The Deputy Minister emphasized that this would not only ensure sufficient resources for various expenditure tasks but also provide necessary fiscal reserves to address potential unexpected expenses. This statement reflects the Vietnamese government’s positive assessment of the current fiscal situation.

Regarding the work plan for the last quarter of this year, Deputy Minister Chi stated that the financial sector would continue to make every effort to complete the set tasks and strive to achieve the highest income level. He particularly pointed out that the budget surplus would mainly be used to meet investment needs for infrastructure development and important construction projects. This arrangement demonstrates the Vietnamese government’s priorities in using fiscal funds, highlighting the strategic layout for long-term national development.

In addition to reporting on the current budget collection situation, Deputy Minister Chi also introduced a new policy being planned at the press conference. According to him, the Ministry of Finance has completed and submitted to the government a draft decree on reducing land rent for 2024. The main purpose of this policy is to support the recovery and reconstruction work in areas affected by Typhoon Noru.

According to Deputy Minister Chi’s introduction, this draft decree proposes two options for reducing land rent, either by 15% or 30%. The scope of beneficiaries is quite broad, including various organizations, units, enterprises, families, and individuals who directly lease land from the state. Specifically, any entity that directly leases state-owned land based on decisions, contracts, or land use right certificates, housing and land-attached asset ownership certificates will be eligible for this preferential policy.

Deputy Minister Chi also explained in detail the scope of application of the policy. He stated that the new regulations would apply to situations where rent reductions have not been previously enjoyed, where the reduction period has expired, and where rent reductions are currently being enjoyed in accordance with relevant laws such as the Land Law. The new reduction rate will be calculated based on the rent payable for the current year as stipulated by law.

This policy of reducing land rent reflects the Vietnamese government’s proactive measures in dealing with the consequences of natural disasters. By alleviating the economic burden on businesses and individuals, the government hopes to accelerate the recovery process in affected areas and promote rapid economic recovery.

Overall, the smooth progress of Vietnam’s national budget collection work provides a solid economic foundation for the government to implement various policies. The upcoming land rent reduction policy further demonstrates the government’s specific actions in responding to natural disasters and promoting economic recovery.

Key Points:

• Vietnam’s national budget collection has completed 85% of this year’s estimate.
• Deputy Minister of Finance Nguyen Duc Chi assures that this year’s budget collection target will be met.
• Budget surplus will be used for infrastructure development and important construction project investments.
• The Ministry of Finance has submitted a draft decree on reducing land rent for 2024.
• The new policy proposes two options for land rent reduction: 15% or 30%.
• The rent reduction policy applies to various entities directly leasing land from the state.
• The new policy aims to support recovery and reconstruction work after Typhoon Noru.