The HCM City People’s Council has approved the city’s five-year financial plan for 2026–30, setting an objective of ensuring a positive and sustainable balance of the local budget.
Announced at the 10th People's Council’s sixth session held Tuesday, the plan focuses on strengthening fiscal discipline and enhancing transparency and accountability in managing State revenues and expenditures across all levels.
The city aims to meet the financial-budgetary targets set by the 11th municipal Party Congress for the 2025-30 tenure.
Key goals include mobilising all available resources, leveraging the city’s strategic advantages, and promoting science, technology, innovation and digital transformation to drive rapid and sustainable socio-economic growth.
The city targets becoming a modern, civilised, innovative and highly competitive urban centre, leading the country in industrialisation and modernisation, and rising to a prominent position in Southeast Asia.
It aims to join the world’s top 100 global cities, offering high living standards, a dynamic innovation ecosystem, and moving towards the high-income group.
For the 2026–30 period, the city targets State budget revenue of more than VNĐ5.1 quadrillion (US$193.4 billion), including over VNĐ2.16 quadrillion ($81.9 billion) in local budget revenue.
Local budget expenditure is projected to exceed VNĐ2.2 quadrillion ($83.4 billion), of which development investment will account for about VNĐ1.32 quadrillion ($50.1 billion), or 60 per cent of total spending.
Regular expenditure is expected to surpass VNĐ685 trillion ($26 billion), representing 31 per cent of the total.
The resolution outlines major directions for implementing the plan, emphasising strict cuts to regular expenditure and unnecessary costs such as conferences, receptions and overseas trips.
Priority will be given to funding major Party and State policies, with a focus on growth, development investment and targeted, non-fragmented allocation of resources.
Transparency, anti-corruption measures, greater delegation of authority, clear accountability and stronger oversight are also highlighted.
The city will continue administrative reform, improve the business environment, enhance competitiveness and support enterprises across all wards, communes and municipal units to establish and expand operations.
It aims to promptly address bottlenecks in investor selection, increase industrial park occupancy, create more jobs and promote local production.
It will tackle long-standing land and project obstacles, review land-rental prices for projects with planning adjustments, and ensure full collection of land-use and rental fees.
It will also accelerate resource mobilisation through public–private partnerships, private investment and foreign direct investment, while boosting the role of public investment in driving key programmes and projects. — VNS
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