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The view of the conference summarising performance of the State Treasury. Photo: T.L

Achieved two of three targets in building “3-No” treasury

On December, the State Treasury held a conference on summarising performance and deploying tasks for 2021 of the State Treasury system. According to the State Treasury's report, in 2020, closely following the plan of the Ministry of Finance and roadmap for the implementation of the State Treasury Development Strategy by 2020, the State Treasury system successfully completed tasks in 2020 with impressive results.

The management of State budget revenues and expenditures has been performed effectively. According to statistics, by the end of November, the accumulated State budget balancing revenue reached VND 1, 260.9 trillion or 83.4% compared to the estimate for 2020. Accumulated State budget expenditures reached VND 1,369.6 trillion or 78.4% of the estimate. Of which, development investment expenditures was 71.4% of the estimate, and recurrent expenditure was 87.9% of the estimate.

Notably, the State Treasury system has implemented astrategy of reform, renovation, modernisation and built the e-government, creating maximum favorable conditions for people, organisations and businesses. It has made great efforts in reforming, modernising and applying information technology in State budget management.

Previously, to withdraw budget estimates, the State budget-using units had toconduct at the State Treasury where they opened transaction counts. These units only conduct transactions on the online public service portal level 4 build and integrated on the National Public Service Portal by the State Treasury.

According to the State Treasury, it has connected with 100% of State budget-using units; the rate of state budget spending transactions via online public services hit98%. This is only one of the outstanding results on modernisation and reform of operational performance recognised by the Ministry of Finance.

Deputy Minister of Finance Do Hoang Anh Tuan said in the process of building an electronic treasurywith the “3-No” treasury: "No cash", "No customers at the office", and "No papers", the State Treasury has completed the first two targets. This is an important achievement in performance of the State Treasury.

Also according to the Deputy Minister, another important task that has been completed by the entire State Treasury system is the effective making of the State financial statement. In 2020, the State Treasury has coordinated with ministries, central agencies, localities and relevant units under the Ministry of Finance to make the State budget finalisation report 2018, submitted to the Ministry of Finance to submit to the Government and approved by the National Assembly with a approval rate (93.17%). The State Treasury has worked with units under the Ministry of Finance to make the State budget finalisation report 2019 according to the plan.

"This is first important report, making an important contribution to the management of finance, non-budget funds and national asset,” the Deputy Minister of Finance said.

Proceeding to the e-Treasury

According to Director General of the State Treasury Nguyen Duc Chi, in 2020 the State Treasury system completed its assigned political and operational tasks, making important contributions to the effective implementation of the Government’s direction and administration solutions for the country's socio-economic development by the whole finance sector.

However, there were still some shortcomings and limitations that the State Treasury system should recognise, learn experience and take measures to rectify and overcome to complete political and operational tasks in the following years.

For key tasks in 2021 of the State Treasury, Deputy Minister Do Hoang Anh Tuan said the system must accompany the Ministry of Finance to study the strategy for the system development for 2021-2030. It is also necessary to arrange the resources and research for a longer vision in the next 10-20 years.

The State Treasury system also needs to continue to build a digital treasury and a centralised database, and connect to databases of people and ministries.

According to the Deputy Minister, public accounting plays an important in the national finance and the tasks of the State Treasury. In the context of integration and industrial revolution 4.0, the accounting standards are constantly changed when arising technologies. Therefore, the State Treasury needs to research and develop appropriate strategies and visions.

Regarding the personnel issue- the content is mentioned by many local state treasuries, the Deputy Minister of Finance shared that, in the spirit of structure and streamlining of the apparatus from the central level, the staff could not be increased but the apparatus would be reformed and modernised.

Emphasising on goal of “3-No”, the Deputy Minister of Finance said that to achieve the last goal of “no papers”, the Ministry of Finance and the State Treasury should develop institutions and policies andat least, a decree or a circular must be issued to guide this content.

Deputy Minister of Finance Do Hoang Anh Tuan agreed with the goals set by the State Treasury in 2021 and sent his greetings to the sector to continue promoting aspirit of solidarity to complete the tasks in the following years.