On March 22, at the 14th Session (special session) of the 16th Hai Phong City People's Council, term 2021 - 2026, 12 important resolutions were passed for socio-economic development, strengthening the city's national defense and security; including a resolution approving the plan to use excess revenue from import-export activities, dividing between the central budget and local budget, and reinvesting according to a special mechanism in 2022.

According to information from the City Customs Department, in 2022, Hai Phong City's state budget revenue from import-export activities reached 67,806 billion VND, exceeding 20.6%, equivalent to 11,876 billion VND compared to the assigned target (55,930 billion VND).

From this result, according to the provisions of Decree 89/2017/ND-CP dated July 29, 2017 of the Government on Regulations on special financial and budgetary mechanisms and policies for Hai Phong City, the Prime Minister issued Decision No. 1491/QD-TTg dated November 29, 2023 to reward revenue exceeding the budget estimate and reinvest in the locality with a total amount of 926.6 billion VND.

This is an important additional source of capital for Hai Phong City to continue implementing public investment plans and socio-economic development policies in 2024.

Accordingly, the 14th session of the City People's Council unanimously approved the plan to allocate public investment expenditure of VND 896.6 billion and VND 30 billion to supplement the capital entrusted through the city's Social Policy Bank branch to provide loans to create jobs for socio-economic development.

The use of VND 896.6 billion for public investment expenditure as prescribed will contribute to the completion of the city's socio-economic goals in the spirit of Resolution 45-NQ/TW dated January 24, 2019 of the Politburo on the construction and development of Hai Phong City to 2030, with a vision to 2045; the implementation of Resolution 09-NQ/DH dated October 15, 2020 of the 16th City Party Congress, term 2020 - 2025, including the content on practicing thrift, combating waste in budget spending and prioritizing resources for key programs, projects, and works...