On the morning of February 7, the Ministry of Finance held a briefing conference to review the implementation of the work program for January 2025 and to plan the execution of tasks for the February 2025 work program. The conference was chaired by Minister Nguyễn Văn Thắng. Also attending the conference were Deputy Minister Cao Anh Tuấn and representatives of the leadership from the Ministry’s affiliated units.
Minister Nguyễn Văn Thắng delivered a directive speech at the conference.
State Budget Revenue Increases by 3.7% Compared to the Same Period
According to the report presented at the conference, total state budget revenue (NSNN) in January 2025 reached VND 276.6 trillion, equivalent to 14.1% of the annual estimate, an increase of 3.7% compared to the same period in 2024. Specifically: domestic revenue reached 15.7% of the estimate, up 7.9% year-on-year; crude oil revenue reached 6.6% of the estimate, down 28.9% year-on-year; revenue from import-export activities reached 5% of the estimate, down 40.2% year-on-year.
In terms of budget expenditure, total state budget expenditure in January 2025 was estimated at VND 134.4 trillion, equivalent to 5.3% of the annual estimate, an increase of 4.8% compared to the same period in 2024. Expenditures focused on ensuring social welfare policies, salaries, pensions, and social allowances for beneficiaries; fully and promptly settling due interest payments; maintaining the operations of state agencies, and ensuring national defense, security, and public order during the early months of the year and the Lunar New Year (Tet) of the Year of the Snake 2025.
Additionally, under the Prime Minister’s decision, the Ministry of Finance released 6,700 tons of national reserve rice to support and provide food relief to people during Tet and the early-year lean season.
The balance of the central budget and local government budgets was ensured. In January, nearly VND 16 trillion of government bonds were issued, with an average maturity of 11.28 years and an average interest rate of 2.84% per year.
Regarding tax revenue collection, Mr. Mai Xuân Thành, Director General of the General Department of Taxation, stated that in January 2025, the tax sector recorded positive results with budget revenue increasing by 19% compared to the same period, in which taxes and fees rose by 17.1%. However, he also noted that in the context of complex and unpredictable global economic and trade tensions among major economies, there are certain impacts on revenue collection. The tax sector will closely monitor developments to proactively implement timely solutions, focusing on potential revenue sources that may have been missed. Attention will be given to enterprises that have reported losses or low profits for many years but continue expanding business operations. Furthermore, efforts will continue to combat electronic invoice fraud, prevent revenue loss, strengthen organizational capacity, improve the tax sector’s institutional framework, and promote digital transformation.
Director General of the General Department of Taxation, Mai Xuân Thành, and Director General of the General Department of Customs
Nguyễn Văn Thọ, at the conference.
Regarding the customs sector, Director General of the General Department of Customs Nguyễn Văn Thọ stated that in January 2025, the total import-export turnover reached USD 63.14 billion, down 3.5% compared to the same period in 2024. As of February 5, the cumulative turnover reached USD 71.65 billion, a decrease of 7.1% year-on-year. The trade balance in January 2025 recorded a deficit of USD 226 million.
As for budget revenue, by January 31, 2025, the customs sector had collected VND 27.662 trillion, equivalent to 6.73% of the annual estimate, down 11% compared to the same period last year. As of February 5, cumulative revenue reached VND 30.033 trillion, or 7.3% of the estimate, representing an 18% year-on-year decrease. Mr. Thọ explained that the drop in revenue was mainly due to two reasons: January had only 17 working days, and the total taxable import-export turnover in January declined by 10.8% compared to the same period last year. The General Department of Customs will continue analyzing and assessing the situation to come up with appropriate solutions for February and the following months.
Regarding the implementation of the Party Central Committee’s Resolution No. 18, Mr. Phạm Đức Thắng, Director of the Department of Personnel and Organization, said that on January 25, the Ministry of Finance submitted to the Government a draft Decree on the functions, tasks, powers, and organizational structure of the Ministry. Simultaneously, the department is actively and urgently coordinating with relevant units to develop decisions defining the functions, tasks, powers, and structures of internal departments and units, ensuring they are issued promptly after the Government approves the Decree. This aims to ensure the timely, efficient, and smooth operation of the new organizational apparatus.
Ensuring Smooth Operation of the New Organizational Apparatus
Speaking at the conference, Deputy Minister Cao Anh Tuấn requested that all units continue to focus intensively on institutional development and closely follow the progress of assigned policy tasks. He emphasized the need to improve work discipline and style, and accelerate task processing. Additionally, he stressed the importance of maintaining a strong focus on budget revenue collection, with the General Department of Taxation and the General Department of Customs closely monitoring the actual situation to promptly direct subordinate agencies in effectively implementing revenue collection and combating losses.
Deputy Minister Cao Anh Tuấn delivered a speech at the Conference.
The scene of the conference.
Thu Trang
