New organizational structure of the Ministry of Finance of Vietnam

New organizational structure of the Ministry of Finance of Vietnam (Internet image)

1. New organizational structure of the Ministry of Finance of Vietnam

The new organizational structure of the Ministry of Finance of Vietnam from May 15, 2023 is as follows:

- Department of State Budget.

- Investment Department.

- Department of Finance, National Defense, Security, and Special (Department I).

- Department of Finance and Administration.

- Finance Department of banks and financial institutions.

- Department of International Cooperation.

- Legal services.

- Organize staff.

- Inspect.

- Office.

- Department to manage and supervise tax policies, fees and charges.

(Currently Tax Policy Department)

- Department of Public Property Management.

- Department of Debt Management and External Finance.

- Insurance Management and Supervision Department.

- Department of management, accounting supervision and auditing.

- Department of Price Management.

- Department of Informatics and Financial Statistics.

- Corporate Finance Department.

- Department of Planning and Finance.

- General Department of Taxation.

- General Department of Customs.

- General Department of State Reserve.

- State Treasury.

- State Securities Committee.

- Institute of Strategy and Financial Policy.

- Vietnam Financial Times.

- Financial magazine.

- School of fostering financial staff.

2. Tasks and powers of the Ministry of Finance of Vietnam

The Ministry of Finance performs the tasks and powers specified in Decree 123/2016/ND-CP; Decree 101/2020/ND-CP and the following tasks and powers:

- Submitting to the Government a law project, a draft resolution of the National Assembly, an ordinance project, and a draft resolution of the National Assembly Standing Committee; draft decrees of the Government according to the approved annual law-making programs and plans of the ministry; and projects and schemes as assigned by the Government or the Prime Minister.

- Submitting to the Government and Prime Minister the strategies, master plans, and medium-term, long-term, and annual development plans in the fields of state management of the ministry; draft decisions, directives, and other documents of the Prime Minister in accordance with law.

- Promulgating circulars, decisions, directives, and other documents within the scope of state management of the ministry.

- Directing, guiding, inspecting, and organizing the implementation of legal documents, policies, strategies, master plans, and plans after being promulgated, approved, and other legal documents under the state management scope of the ministry; information, propaganda, dissemination, and education of the law in the fields under the state management scope of the ministry.

- State budget management.

- Management of taxes, fees, charges, and other state budget revenues.

- Regarding the management of the budget fund, the state reserve fund, the non-budget state financial funds, and the management of the state budget.

- On national reserve management.

- On public property management.

- Regarding corporate finance, collective economic finance, cooperatives, and the management of State capital in enterprises.

- Regarding the management of debt, domestic and foreign debt repayment by the Government, public debt, foreign debt of the country, sources of international aid for Vietnam, and sources of loans and aid from Vietnam to foreign countries.

- Accounting and auditing.

- State management of securities and the securities market.

- State management of insurance.

- Financial management of financial institutions and financial services.

- About customs.

- In terms of price.

- Organize and direct the application of information technology, digital transformation, and statistics in the fields under the ministry's state management.

- About international cooperation.

- Organizing and directing the implementation of plans for scientific research and the application of scientific and technological advances in management in the fields under the ministry's management in accordance with law.

- Deciding on specific guidelines and measures and directing the implementation of operational mechanisms by public service organizations in the fields under the ministry's management in accordance with law; managing and directing the activities of non-business organizations under the ministry.

- State management over the activities of associations and non-governmental organizations in the fields under the management of the Ministry in accordance with the law.

- Inspecting, examining, and settling complaints and denunciations; anti-corruption; practice thrift and fight against waste in the management and use of assigned assets and funds; examine and monitor the implementation of the financial law in accordance with the law; handle according to their competence or propose competent authorities to handle according to law provisions for law violations on financial and budgetary management regimes and other fields under the ministry's management.

- On administrative reform.

- Management of organizational structure, civil servant payrolls; employment positions, the structure of civil servants by rank, the structure of public employees by professional titles, and the number of people working in public non-business units; deciding on rotation, transfer, appointment, dismissal, commendation,  and discipline; policies; training and retraining cadres, civil servants, and public employees under their competence according to the provisions of law.

- Managing and organizing the implementation of finance, state assets, development investment, and construction in the whole industry under the management of the ministry in accordance with law.

- Performing other tasks and exercising other powers assigned by the Government or the Prime Minister in accordance with law.

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