Vietnam looks to build digital State Treasury by 2030

08:35 | 11/08/2019 Finance - Banking

The State Treasury of Vietnam has set a target of becoming a complete electronic treasury capable ofproviding value-added services such as periodic analyses and reports on budget compliance by 2030, heard a conference held in Hanoi on August 8.

General Director of the Vietnam State Treasury Ta Anh Tuan speaking at the conference - Photo: VNA

Entitled “Strategic direction for development of State Treasury in the 2021-2030 period”, the conference was jointly held by the State Treasury of Vietnam and the International Monetary Fund (IMF).

General Director of the Vietnam State Treasury Ta Anh Tuan said that the State Treasury has made positive contributions to the management of public finance, helping to enhance the transparency, efficiency and the ability to supervise the budget and State finance.

Tuan noted that the strategy for the development of the State Treasury is an import part of the development strategy for the finance sector in the future.

He said that the drafted strategic direction for development of State Treasury in the 2021-2030 aims to build a streamlined and effective treasury system towards a digital treasury.

Sandeep Saxena, economist from the IMF’s Fiscal Affairs Department said that the State Treasury has reaped encouraging results in developing core competencies and building a strong foundation for the next innovations.

He noted that by 2030 the State Treasury will become a complete electronic treasury in all aspects and provide value-added services such as periodic analyses on budget compliance, open data portals, and regular budget reports for the public to access.

According to the strategy, the State Treasury will also look to provide a series of public financial management and consultancy services to Government agencies and units, the economist said.

Theo NDO