Vietnam issues Decree 29/2025/ND-CP on the functions, duties, powers, and organizational structure of the Ministry of Finance of Vietnam
Vietnam issues Decree 29/2025/ND-CP on the functions, duties, powers, and organizational structure of the Ministry of Finance of Vietnam
On February 24, 2025, the Government of Vietnam issued Decree 29/2025/ND-CP stipulating the functions, duties, powers, and organizational structure of the Ministry of Finance of Vietnam. Decree 29/2025/ND-CP takes effect from March 1, 2025.
View the full text of Decree 29/2025/ND-CP, which stipulates the functions, duties, powers, and organizational structure of the Ministry of Finance of Vietnam...HERE
Additionally, Article 1 of Decree 29/2025 specifies the position and function of the Ministry of Finance of Vietnam as follows:
The Ministry of Finance of Vietnam is an agency of the Government of Vietnam, performing the function of state management over:
- Strategies, economic and social development plans; planning; development investment, business investment in Vietnam and business investment from Vietnam abroad, investment promotion; state budget; state treasury; public debt;
- Foreign aid to Vietnam and Vietnam's aid to foreign countries; taxes, fees, charges, and other revenues of the state budget;
- State reserves; finance regarding extra-budgetary national financial funds; public assets; Customs; accounting;
- Audit; pricing; securities; insurance; bidding;
- Enterprises, the collective economy, cooperative economy, business households; economic zones;
- Financial services and other services under the state management scope of the ministry;
- Statistics;
- Implementing social insurance policy, health insurance, representing ownership of the state's capital in enterprises according to legal regulations.
Vietnam issues Decree 29/2025/ND-CP on the functions, duties, powers, and organizational structure of the Ministry of Finance of Vietnam (Image from the Internet)
What is the the organizational structure of the Ministry of Finance of Vietnam according to Decree 29/2025?
Based on Article 3 of Decree 29/2025/ND-CP...Download the organizational structure of the Ministry of Finance of Vietnam is stipulated as follows:
(1) 30 administrative organizations assisting the Minister in performing state management functions, include:
- Department of National Economic Synopsis;
- Department of State Budget;
- Department of Investment;
- Department of Finance - Economic Sector;
- Department of Defense, Security, Special (Department I);
- Department of Regional and Territorial Economics;
- Department of Planning Management;
- Department of Financial Institutions;
- Department of Personnel Organization;
- Department of Legal Affairs;
- Department of Debt Management and External Economics;
- Department of Public Asset Management;
- Department of Bidding Management;
- Department of Tax, Fee and Charge Policy Management and Supervision;
- Department of Insurance Management and Supervision;
- Department of Accounting and Auditing Management and Supervision;
- Department of Pricing Management;
- Department of State-Owned Enterprise Development;
- Department of Private Enterprise and Cooperative Economy Development;
- Department of Foreign Investment;
- Department of Financial Planning;
- Department of Information Technology and Digital Transformation;
- Department of Taxation;
- Department of Customs;
- Department of State Reserves;
- Department of Statistics;
- Inspectorate;
- Office;
- State Treasury;
- State Securities Commission.
(2) 4 public service providers, include:
+ Institute of Strategy and Economic-Financial Policy;
+ Finance - Investment Newspaper;
+ Economic - Financial Magazine.
+ Academy of Policy and Development;
(3) Specific Unit under the Ministry of Finance of Vietnam: Vietnam Social Security
In detail:
- The Department of National Economic Synopsis has 03 divisions; the Department of State Budget has 04 divisions; the Department of Investment has 04 divisions; the Department of Finance - Economic Sector has 04 divisions; the Department of Regional and Territorial Economics has 04 divisions; the Department of Financial Institutions has 04 divisions; the Department of Personnel Organization has 06 divisions; the Department of Legal Affairs has 04 divisions.
- The Department of Taxation is organized and operates on 3 levels: Department of Taxation (12 units); 20 Regional Tax Sub-Departments; 350 Inter-district Tax Teams. The Department of Customs is organized and operates on 3 levels: Department of Customs (12 units); 20 Regional Customs Sub-Departments; 165 Border/Non-border Customs. The Department of State Reserves is organized and operates on 2 levels: Department of State Reserves (7 units); 15 Regional State Reserves Sub-Departments (with no more than 171 storage points).
- The Department of Statistics is organized and operates on 3 levels: Department of Statistics (14 units); 63 Statistics Sub-Departments; 480 Inter-district Statistics Teams.
- The State Treasury is organized and operates on 2 levels: State Treasury (10 units); 20 Regional State Treasuries (with no more than 350 transaction offices).
- Vietnam Social Security is organized and operates on 3 levels: Vietnam Social Security (14 units); 35 Regional Social Insurances; 350 Inter-district Social Insurances.
The Department of Taxation, Department of Customs, Department of State Reserves, Department of Statistics, State Treasury, State Securities Commission, Vietnam Social Security have seals bearing the National Emblem. The Minister of Finance stipulates the functions, duties, powers, and organizational structure of the agencies and units affiliated with the Ministry of Finance of Vietnam; stipulates the number of advisory and auxiliary units of Sub-Departments and equivalent under the Department and equivalent under the ministry; presents to the Prime Minister of the Government of Vietnam the list of other public service providers under the ministry.
What are suties and powers of the Ministry of Finance of Vietnam according to Decree 29/2025 on accounting and auditing
Based on Clause 16 Article 2 of Decree 29/2025/ND-CP...Download stipulates the duties and powers of the Ministry of Finance of Vietnam regarding accounting and auditing as follows:
- Develop and submit to competent authorities for issuance policies for the development of accounting and auditing activities, regulations on accounting and auditing (including independent auditing and internal auditing), report policies, financial budget transparency;
- Issue regulations on the principles, standards, professional methods, accounting, and auditing practices;
- Submit to competent authorities for issuance the standards and conditions for accountants, chief accountants, auditors, practicing auditors, practicing accountants; standards and conditions for establishing accounting and independent auditing service enterprises;
- Issue, reissue, adjust, revoke the certificate of eligibility for providing accounting and independent auditing services; certificate of practicing registration of accounting, independent auditing; suspend the practice of accounting, independent auditing services and suspend the operation of accounting, independent auditing services following legal regulations;
- Guide, inspect, supervise the implementation of legal regulations on accounting, auditing, accounting, and independent auditing service activities; the practice of accounting, independent auditing and address violations in implementing legal regulations on accounting, auditing, and accounting, independent auditing practice activities.
