Duties, powers, and organizational structure of the State Treasury of Vietnam from March 1, 2025

Duties, powers, and organizational structure of the State Treasury of Vietnam from March 1, 2025​ (Image from the Internet)

The Minister of Finance promulgates Decision 385/QD-BTC dated February 26, 2025, stipulating the functions, duties, powers, and organizational structure of the State Treasury.

Duties, powers, and organizational structure of the State Treasury of Vietnam from March 1, 2025

According to Article 2 of Decision 385/QD-BTC dated February 26, 2025, the State Treasury performs the following duties and powers:

- Submit to the Minister of Finance to:

+ Submit to the Government of Vietnam draft laws, draft resolutions of the National Assembly, draft ordinances, draft resolutions of the Standing Committee of the National Assembly; draft decrees of the Government of Vietnam according to the annual law-making program and plan approved by the Ministry and other resolutions, projects, schemes as assigned by the Government of Vietnam, the Prime Minister of the Government of Vietnam;

+ Submit to the Prime Minister of the Government of Vietnam draft decisions, directives, strategies, planning, action programs, important projects under the management of the State Treasury.

- Submit to the Minister of Finance to consider and decide on draft circulars and other documents regarding the management of the State Treasury.

- Issue business processes, professional guidance documents, and individual documents within the management scope of the State Treasury.

- Organize the implementation of legal documents, strategies, planning, plans, programs, projects, proposals within the management scope of the State Treasury after being issued or approved by competent authorities.

- Propagate, disseminate, and educate the law regarding the management of the State Treasury.

- Manage the state budget funds, financial reserve funds, extra-budgetary state financial funds, money and assets entrusted to manage according to legal provisions:

+ Centralize and reflect completely and promptly on state budget revenues; organize the implementation of collecting and submitting into the state budget funds the amounts by the units, organizations, and individuals through the State Treasury system; perform accounting for state budget revenues to the budget levels according to the provisions of the State Budget Law 2015 and other competent state authorities;

+ Guide and implement payment, disbursement of state budget expenditures and other funds assigned according to legal provisions;

+ Deposit all the foreign currency of the State Treasury at the State Bank of Vietnam; carry out buying and selling foreign currency to meet the expenditure needs of the state treasury according to legal provisions; periodically determine and announce exchange rates for accounting purposes regarding state budget revenue and expenditure in foreign currency;

+ Manage, control, and perform the import/export of state financial reserve funds, extra-budgetary state financial funds managed by the State Treasury; manage temporarily collected, detained, confiscated amounts, escrow, deposits, and mortgage amounts according to decisions of competent state authorities;

+ Manage cash (Vietnamese dong, foreign currency), valuable papers, gold, silver, gemstones, precious metals, and other State assets and those of units deposited at the State Treasury according to legal provisions.

- Authorized to deduct accounts of units, organizations opened at the State Treasury for state budget submission or apply other administrative measures to collect for the state budget according to legal provisions; authorized to refuse advances, payments of incorrect expenses, or those not meeting legal conditions.

- Organize the implementation of state budget accounting

+ Record accounting for state budget, funds, and state assets entrusted for management, aid receipts, borrowings, and repayments of the Government of Vietnam and local authorities according to legal provisions;

+ Report the implementation status of state budget revenue and expenditure to finance agencies and relevant state agencies according to legal provisions.

- Consolidate and report to the Minister of Finance to present to the competent authority the annual state budget settlement according to legal provisions.

- Organize the management of the payment operations of the State Treasury system.

- Organize the implementation of national accounting

+ Receive financial reporting information from accounting units in the public sector as prescribed by law;

+ Aggregate state financial information on state asset status; state capital sources and liabilities; state budget revenue and expenditure activities and results; state capital in enterprises and other assets, resources, obligations of the State;

+ Prepare an annual state financial report for submission to the Minister of Finance to report to competent authorities according to legal provisions.

- Organize the implementation of state treasury statistics and reporting policies according to legal provisions.

- Organize the unified management of the state's cash reserves across the entire State Treasury system

+ Open and manage accounts for units, organizations, individuals transacting with the State Treasury;

+ Manage the opening and use of accounts of the State Treasury at the State Bank and commercial banks according to legal provisions;

+ Organize the management and temporary idle treasury and implement measures to handle temporary shortfalls of treasury according to legal provisions;

+ Organize cash flow forecasting and risk management in treasury management according to legal provisions.

- Organize the mobilization of funds for the state budget through issuing Government of Vietnam debt instruments in the domestic capital market; repay principal, interest on Government of Vietnam debt instruments, and related costs; perform restructuring operations of the Government of Vietnam debt instrument portfolio in the domestic capital market through repurchase, swap of Government of Vietnam debt instruments according to legal provisions.

- Conduct sectoral inspection, check, internal audit; receive citizens, resolve complaints, denunciations; handle within competence or propose competent authorities to handle legal violations within the management scope of the State Treasury; prevent and combat corruption, negativity, and practice thrift, combating waste in the use of entrusted assets and funds according to legal provisions.

- Modernize the operations of the State Treasury

+ Develop mechanisms, policies; issue professional process, management, safety, security processes, operation regulations following international practices and Vietnam's practices;

+ Develop, manage, and operate information technology systems and digital transformation, apply scientific and technological advances to advanced management practices, modernize material bases for the operational needs of the State Treasury system.

- Perform international cooperation tasks in the field of the State Treasury following assignments, the hierarchy of the Minister of Finance and legal provisions.

- Manage the organization of machinery, official staff, employees; job positions, official structure by rank; decide on rotation, transfer, appointment, dismissal, commendation, discipline; policies; training, fostering officials under competence according to legal provisions and the hierarchy of the Minister of Finance.

- Manage funds allocated by the state budget; revenues, expenditures from treasury management activities, and assigned assets according to legal provisions.

- Perform legal work as prescribed by law and the assignments, hierarchy of the Minister of Finance; implement administrative reforms in the operations of the State Treasury according to the goals and content of the administrative reform program approved by the Minister of Finance.

- Perform other duties and powers assigned by the Minister of Finance and according to legal provisions.

Organizational structure of the State Treasury of Vietnam from March 1, 2025

According to Article 3 of Decision 385/QD-BTC dated February 26, 2025, the State Treasury is organized from central to local levels according to a two-level model:

- The State Treasury has 10 units at the central level:

+ Policy - Legal Affairs Department;

+ State Accounting Department;

+ Treasury Management Department;

+ Personnel Organization Department;

+ Financial Affairs - Administration Department;

+ Payment System Management Department;

+ Information Technology and Digital Transformation Department;

+ Trading Department;

+ State Treasury Inspectorate;

+ Office.

The organizations specified in Clause 1, Article 3 of Decision 385/QD-BTC dated February 26, 2025, are administrative organizations assisting the Director of the State Treasury in performing state management functions, in which the organizations specified from point e to point k have legal status, seals, and separate accounts according to legal provisions.

Payment System Management Department has 3 groups, State Accounting Department has 4 groups, Treasury Management Department has 4 groups, Information Technology and Digital Transformation Department has 5 groups, Trading Department has 2 groups, State Treasury Inspectorate has 4 groups and Office has 5 groups.

- The State Treasury at the local level is organized according to 20 regions.

The names, headquarters, and management areas of regional State Treasuries are according to the Appendix attached to Decision 385/QD-BTC dated February 26, 2025.

Regional State Treasuries are organized with an average of no more than 10 advisory and support departments and 350 Transaction Departments.

Regional State Treasuries and Transaction Departments have legal status, seals, and separate accounts according to legal provisions.

- The Director of the State Treasury is responsible for:

+ Submitting to the Minister of Finance the regulations on functions, duties, powers, and organizational structure of regional State Treasuries;

+ Regulating the functions, duties, powers, and organizational structure of Departments, Offices, and Inspectorate of the State Treasury.

Decision 385/QD-BTC takes effect from March 1, 2025.

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