Ha Phong Customs contributes 60% of revenue to city budget

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Revenue from import and export operations accounts for large proportion in the annual budget of Hai Phong.

The total state budget revenue in the city is estimated at VND90,421 billion, meeting 117.2% of the target assigned by the Central Government and 101% of the target assigned by the local government, according to the report of Hai Phong City People's Committee at the 4th session of the 16th City People's Council (term of 2021 - 2026), on December 8, 2021.

The revenue from imports and exports collected by the department in the Hai Phong area (excluding revenue from areas of Hai Duong, Hung Yen and Thai Binh) is estimated at VND54,000 billion, meeting 109.1% of the target assigned by the central government and 101.9% of the target assigned by the local government.

The city's gross regional domestic product GRDP is estimated to increase by 12.38% compared with the previous year; capital from foreign direct investment (FDI) increase 92.44% to US$3.13 billion; import and export turnover surged 23.19% to US$25.11 billion; the volume of goods rose 7.36 % to 150.16 million tons.

In 2022, Hai Phong Customs Department targets a GRDP growth rate of 13% or more compared with 2021. The state revenue in the area is estimated to reach VND105,645.46 billion, of which VND60,000 billion is collected by the department.

The volume of goods cleared across the port is estimated to reach 168 million tons; trade in goods reaches US$31 billion; and attracts US$2.5 to US$3 billion from FDI.