Deputy Minister Do Hoang Anh Tuan: State Treasury needs administrative reform in all aspects

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Deputy Minister Do Hoang Anh Tuan speaks at the conference. Photo: Thuy Linh

Improve effectiveness of risk prevention for the state budget

At the conference, Deputy Minister of Finance emphasized a number of important tasks. The first is to strengthen budget management and control spending to improve the effectiveness of risk prevention for the state budget.

"The focus of this task is to strengthen treasury management with two operations. First, clearly defining the principles of Government bond sales to compensate for overspending and debt repayment. Second, only issuing Government bonds to compensate for overspending based on budget collection and capital disbursement tasks,” said the Deputy Minister.

At the conference, Deputy Minister Do Hoang Anh Tuan assigned the General Director of the State Treasury in August 2021 to develop regulations, regimes, responsibilities, and professional processes to conduct a Government bond auction in September in a simple form.

The State Treasury also needs to tackle the shortcomings and challenges of off-budget State funds. To carry out this task, under Resolution 913 of the Standing Committee of the National Assembly, the Ministry of Finance must submit to the Government to develop a Decree on principles and requirements for primary contents on its competence to decide on the collection of spending of off-budget State funds.

Another important task of the State Treasury is to carry out modernization and reform. Specifically, it is required to accelerate the modernization of administrative procedures in operations in association with the reform of e-documents.

Deputy Minister Do Hoang Anh Tuan also assigned the State Treasury to study the project on cashless transactions.

"The above tasks must be concretized by a clear directive on goals, views, solutions and requirements," said the Deputy Minister.

He also requested the State Treasury to quickly complete and submit to the Ministry to submit to the Prime Minister for promulgation the State Treasury development strategy for the 2021-2030 period in 2021 to orient and develop the State Treasury system in the future. In the future development strategy of the State Treasury system, the two contents that must be focused on are state fund management and accounting and audit.

Accelerate administrative reform and strengthening IT application

Understanding instructions from the leader of the Ministry of Finance, the State Treasury's Director General Nguyen Duc Chi said that the State Treasury system will discuss specific solutions in the second half of 2021 and following years.

Of which, some key tasks must be focused on are: developing and completing projects and policies as planned by the Ministry of Finance, ensuring requirements on time, quality and feasibility, including important projects such as: State budget settlement report and state financial report in 2019; State Treasury development strategy for the 2021-2030 period; the Prime Minister’s Decision on defining the functions, tasks, powers and organizational structure of the State Treasury; five circulars under the issuing authority of the Ministry of Finance; pre-feasibility report on project to build a digital State accounting and budget information system towards a digital treasury.

The State Treasury system will also continue to seek solutions to coordinate with other agencies in State budget collection to ensure the State revenue and fulfill the State revenue target in 2021; and advise competent authorities to speed up the public investment disbursement and introduce solutions to improve customer service quality.

In addition, the State Treasury is to seek solutions to carry out the task of capital mobilization and budget management.

State Treasury estimates disbursment investment capital of plan in 2021 reaching more than 13%

Moreover, the State Treasury will also continue to promote administrative reform of IT application. Accordingly, the State Treasury will fulfill the target that 100% of procedures are performed at level 4 online public services to soon build a treasury of no cash, no paper and no customers.

In particular, the management of the Covid-19 vaccine fund must be legal, publicized, and transparent.