Organizational structure of the Ministry of Finance of Vietnam

Organizational structure of the Ministry of Finance of Vietnam (Internet image)

1. Organizational structure of the Ministry of Finance of Vietnam

Administrative organizations that assist the Minister in performing state management functions include:

- Department of State Budget

- Department of Investment

- Department of Finance for National Defense and Security

- Department of Tax Policy

- Department of Banking and Financial Institutions

- Department of International Cooperation

- Legal Department

- Department of Personal and Training

- Department of Emulation and Commendation 

- Department of Finance Inspectorate

- Ministerial Office

- Department of Public Asset Management

- Department of Debt Management and External Finance

- Insurance Supervisory Authority

- Department of Accounting and Auditing Regulations

- Department of Price Management

- Department of Financial Informatics and Statistics

- Department of Corporate Finance

- Department of Financial Planning

- General Department of Taxation

- General Department of Customs

- General Department of National Reserves

- State Treasury

- State Securities Commission

* Non-business organizations serving state management under the Ministry:

- National Institution for Finance

- Vietnam Financial Times

- Financial Magazine

- Institute of Financial Training

The State Budget Department has 4 departments, the Finance and Administration Department has 4 rooms, the Investment Department has 4 rooms, the Finance Department of banks and financial institutions has four departments, the Legal Department has five, the Personnel Department has seven, and the International Cooperation Department has four.

The Minister of Finance shall submit to the Prime Minister for promulgation decisions defining the functions, tasks, powers, and organizational structure of the General Department of Taxation, the General Department of Customs, and the General Department of Customs, the General Department of State Reserve, the State Treasury, the State Securities Commission, and a list of other non-business units under the ministry.

(Article 3 of Decree 14/2023/ND-CP)

2. Tasks and powers of the Ministry of Finance regarding prices in Vietnam

Tasks and powers of the Ministry of Finance regarding prices in Vietnam are as follows:

- Formulate and submit to the Government and Prime Minister for approval and organize the implementation of annual, 5-year, and 10-year price management orientations; strategy and plan to develop the valuation profession in Vietnam;

- Formulate and submit to the government for promulgation regulations on decentralization of price management and mechanisms of price management of goods and services determined by the state; assume the prime responsibility for and coordinate with ministries, branches, and provincial-level People's Committees in examining price-forming factors for goods and services under their competence in accordance with law;

- Assume the prime responsibility for, and coordinate with concerned ministries and agencies in, formulating and submitting to competent authorities for decision the prices of goods and services on the list of goods and services determined by the State; stipulate general pricing methods for goods and services so that ministries, branches, localities, production, and business organizations make price plans and serve as a basis for appraising price options, checking price-forming factors; coordinate with ministries and branches in guiding pricing methods for goods and services falling under the decision-making competence of ministries and branches;

- Assume the prime responsibility for, and coordinate with relevant agencies in, formulating and submitting to competent authorities for adjustment the list of goods and services subject to price stabilization; the list of goods for which the price stabilization fund is established, and the list of goods and services for which a price declaration is made;

- Assume the prime responsibility for, and coordinate with relevant agencies in, formulating and submitting to the Government for decision policies and measures to stabilize prices; guide and organize the implementation of price stabilization measures in accordance with law;

- Appraise price plans developed by ministries, agencies, and state-owned enterprises and submitted to the Government and Prime Minister for decision; monitor, supervise, and coordinate the pricing of goods and services falling under the pricing competence of ministries and branches; examine and appraise land prices in accordance with the law on prices; direct and guide the implementation of policies and measures on prices and decisions on prices of assets, goods, and services promulgated or approved by the Government or the Prime Minister;

- Decide according to its competence the prices of assets, goods, and services on the list of prices determined by the State; guide the decision on specific prices of goods and services after competent state agencies stipulate minimum prices, maximum prices, and price brackets in accordance with law;

- Guide to organize the implementation of price negotiation. Organize price negotiations according to the provisions of the law;

- Submit to competent authorities to prescribe criteria for price appraisers;

- Issue and withdraw the certificate of eligibility for business in price appraisal services, suspending the business in price appraisal services; perform the function of state management of price appraisal according to the provisions of law;

- Assume the prime responsibility for, and coordinate with concerned ministries and agencies in, specifying the list of goods and services subject to price registration and declaration; guide the process, procedures, and dossiers of price registration and declaration of prices within its competence according to the provisions of law; and supervise the implementation;

- Guide, inspect, and control the implementation of legal provisions on price management and appraisal;

- Appraise the State's property prices as assigned by the Government or the Prime Minister.

(Clause 17, Article 2 of Decree 14/2023/ND-CP)

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE