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| Officers of Vung Tau State Treasury at work. Photo: Thuy Linh |
1. The Prime Minister issued Decision No. 455/QD-TTg dated April 13, approving the State Treasury Development Strategy to 2030.
The State Treasury Development Strategy to 2030 sets goals of building a streamlined, effective and efficient state treasury; reforming mechanisms, policies and processes for the management of the state budget; enhancing the efficiency of capital mobilization for the State budget; performing well the State general accounting; improving organizational structure in association with applying modern information technology platforms that connect with other database systems of the Finance sector, national databases to provide the best services to people, business, and state agencies, contributing to building a safe and sustainable national finance. The strategy is the foundation to continue building a modern and sustainable State Treasury system.
2. The centralized Interbank Electronic Payment System is successfully launched.
In 2022, the centralized Interbank Electronic Payment System was launched in the State Treasury system. The system’s implementation has contributed to connecting the State Treasury operation, bringing many benefits to both the State Treasury and transaction units.
The effective implementation of the centralized Interbank Electronic Payment System is also a basis for the Finance sector and the State Treasury to integrate with the strong development of e-payment of the treasury systems.
3. The State Treasury launches the Investment Spending Management Program nationwide to control expenditure for public projects electronically.
The program is connected to the online public service system, the Treasury and Budget Management Information System (TABMIS) and the Reporting system. Public investment capital’s daily disbursement report data is summarized from local State treasuries and connected to the central State treasuries.
Therefore, the public investment disbursement data is processed in a timely fashion, which is a key basis for assessing the disbursement rate of ministries, sectors and localities transparently, well serving the direction and administration of the Government, the Ministry of Finance and local governments, contributing to expediting the disbursement.
4. Expanding coordination in the State revenue collection and bilateral e-payment with commercial banks; cooperating with the Government Office and relevant agencies to promote the collection of fees, charges and fines via the National Public Service Portal.
In the year, the State Treasury system opened a Specialized Collection Account and signed an agreement on revenue collection and bilateral e-payment with five commercial banks, increasing the number of commercial banks that the State Treasury has opened Specialized Collection Account to 20 banks, thereby modernizing the state revenue collection method; and provided the revenue data to serve the direction and administration of leaders at all levels.
The State Treasury has coordinated with the Government Office and relevant units to promote the collection of fees, charges and fines via the National Public Service Portal, creating favourable conditions for payers, contributing to accomplishing revenue collection targets and helping the tax sector exceed the target in 2022.
5. Accomplishing the State Budget Finalization and the State Financial Report in 2020 and submitting them to the Ministry of Finance for submission to the Government for reporting to the National Assembly.
The state budget finalization in 2020 faced difficulties and obstacles because many complicated contents must be reported to the competent authorities.
However, the State Treasury has coordinated with departments under the Ministry of Finance to make the State Budget Finalization Report 2020, which provided accurate data related to the State revenue, expenditure and budget deficit in 2020, explained the opinions of competent agencies and approved by the National Assembly with a high rate (90.96%). Therefore, the State Financial Report in 2020 has been submitted to the competent authorities in line with regulations.
6. Maintaining the provision of 100% of procedures via the Online public service system at level 4. Accordingly, 100% of enterprises use online public services.
The State Treasury smoothly operates the Online public service system to serve 100% of the State budget users; 99.6% of transactions on State budget spending are processed via the Online public service system.
The online public service system helps state budget users save time and travel costs, especially in mountainous and remote areas during the complicated development of the Covid 19 pandemic.
7. Implementing the pilot automated payment system for electricity, water and telecommunications services as authorized by budget users at Hanoi State Treasury and Ho Chi Minh City State Treasury.
The State Treasury successfully piloted the automated payment system for electricity, water and telecommunications services as authorized by budget users.
The budget users do not have to send monthly notifications for payment for electricity, water and telecommunications services; the State Treasury automatically pays under their authorization, thereby reducing costs and reforming administrative procedures.
The system helps the State Treasury’s officers shorten processing time and workload, thereby focusing on controlling high-risk expenditures and improving the management efficiency of the State Treasury. In addition, it reduces fees that the State budget has to pay to banks. Furthermore, the system also helps the service suppliers save costs and time for collection.
8. Safely and effectively managing the state budget and implementing timely payments.
Through the centralized payment account system, the balance of the local budget is fully remitted to the central budget and deposited at the State Bank, helping the State Treasury to be proactive in budget management, ensuring liquidity, and payment for State expenditures. Furthermore, the State Treasury actively coordinates with relevant units to develop a plan for State budget management and submit it to the Ministry of Finance.
As of December 2022, the State Treasury contributed VND1,200 billion to the central state budget from revenue from the State budget management
9. The State Treasury maintains 2nd rank among the units under the Ministry of Finance for administrative reform.
Along with the digital transformation process and the drastic implementation of administrative reform by the Government, ministries, sectors, central and local governments, the State Treasury system always determines the administrative reform work as the key, regular and continuous political task, making an important contribution to administrative reform of the Finance sector. Accordingly, the State Treasury has drastically and comprehensively implemented administrative modernization in technical and internal operations.
In 2022, the State Treasury maintained 2nd rank among the units under the Ministry of Finance for administrative reform; the level of satisfaction of individuals and organizations with the service of the State Treasury system in 2022 reached 94.5%.
10. Issuing a decision on and implementing the Non-cash payment development project in the State Treasury system by 2025.
The State Treasury has issued and implemented the Non-cash payment development project in the State Treasury system by 2025 under Decision No. 1953/QD-KBNN dated April 29, 2022, of the Director General of the State Treasury.
Implementing the project has created a positive change in payments in the State Treasury system, thereby forming the non-cash payment habit of budget users and payers. As a result, the State Treasury strives to have no cash payments by the end of 2025.