Dong Thap Province Sees Positive Domestic Revenue in First Half of 2026, Challenges Remain

Dong Thap Province in Vietnam's Mekong Delta has reported significant achievements in its domestic revenue for the first half of 2026. This success is attributed to the synchronized implementation of administrative reforms, technological applications, and supportive policies for businesses and residents, particularly in import-export activities. According to statistical data, Dong Thap's domestic revenue for the first six months of 2026 is estimated to have reached VND 13.01 trillion, fulfilling 56.01% of the annual plan and marking a 3.77% increase compared to the same period in 2025. Notably, within this revenue structure, key collection areas showed positive results. Revenue from foreign-invested enterprises operating in the province is estimated at VND 2.261 trillion, accounting for 55.82% of the plan and rising by 11.21%. In the non-state industrial and commercial sector, total revenue is estimated at VND 3.537 trillion, representing 73.69% of the plan and a substantial 36.42% increase year-on-year. Specifically for import-export activities, revenue is estimated at VND 513 billion, reaching 93.27% of the annual plan and showing a 15.38% increase compared to the previous year. The Customs Department's consistent efforts in administrative reform, embracing technology, and supporting businesses in import-export operations are credited with this notable outcome. Furthermore, the number of newly established businesses in the province during the first half of 2026 surged by over 140% compared to the same period last year. This figure is seen as a testament to the market's attractiveness and confidence in Dong Thap's revitalized environment following recent administrative consolidations. However, alongside these positive developments, the real estate market remains sluggish, many businesses face cash flow difficulties, production costs are escalating, and the prolonged impact of global economic fluctuations means that 8 out of 15 domestic revenue items have yet to reach 50% of the annual target. For instance, environmental protection tax collection stood at 34.73% of the plan, while personal income tax reached 40.29%. Notably, the absence of new large-scale provincial projects resulted in land use fee revenue of only VND 934.4 billion, equivalent to 38.93% of the plan and a decrease of 25.68% year-on-year. Recognizing these mixed results, Secretary of the Provincial Party Committee and Chairman of the Provincial People's Council, Ngo Chi Cuong, emphasized the need for a frank assessment of limitations and difficulties. These include constraints in governance capacity, digital and logistics infrastructure, underutilized inter-regional economic linkages, and a gap in human resource quality and economic competitiveness compared to the demands of the new development phase. To achieve the set socio-economic goals for the entire year 2026, Cuong outlined that Dong Thap will focus on accelerating key transportation projects and new industrial zones. A breakthrough initiative is the project to bring fresh water to the Go Cong region, which is expected to foster a new economic zone encompassing industry, urban development, tourism, and the marine economy, thereby generating new revenue streams and establishing a fast, sustainable growth pole in line with the Party and State's objective of achieving double-digit growth. Source: Nhan Dan