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Establishing a modern Digital Finance platform by 2025

15:50 | 04/08/2022

VCN - The goal of the Digital Transformation of Finance Sector Plan to 2025 is to complete the development targets of e-finance and strive to basically establish a modern and transparent Digital Finance platform by 2025 based on big data, and open financial data.

With the goal of providing quality digital financial services to the society, the Ministry of Finance aims to reduce, restructure, simplify, standardize and unify administrative procedures
With the goal of providing quality digital financial services to society, the Ministry of Finance aims to reduce, restructure, simplify, standardize and unify administrative procedures

Ministry of Finance plays a tectonic role in digital transformation

Minister of Finance Ho Duc Phoc signed Decision No. 1484/QD-BTC promulgating the Ministry of Finance's digital transformation plan to 2025, with an orientation to 2030.

The overall goal of the Plan is to implement digital transformation associated with building a sustainable, modern and integrated national financial system, contributing to promoting growth, enhancing the resilience of the economy, and ensuring macroeconomic stability and national financial security. Implement reasonable incentive policies, improve fiscal space, create favorable conditions for effective mobilization, allocation and use of financial resources, and harmoniously solve economic development problems, society and the environment with the goals and tasks of the 10-year socio-economic development strategy 2021-2030

At the same time, actively apply the technological achievements of the Industrial Revolution 4.0, inheriting the results of e-Government implementation to gradually implement digital transformation of the Finance sector, providing digital financial services, actively participate in the development of Digital Government, Digital Economy, Digital Society.

By 2022, the Finance sector has completed the development targets of e-finance and strives to basically establish a modern, public and transparent digital finance platform by 2025 based on big data and open financial data. By 2030, a modern Digital Finance ecosystem will be formed in all fields, ensuring the effectiveness and safety of information.

The Finance sector plays the role of construction, connecting, sharing data and digitizing platforms, comprehensively meeting the needs of public financial transactions and the need for digital information exploitation and use of the Government, the people, businesses and organizations.

Along with that, the training and updating digital skills for officers and employees to gain digital knowledge and skills in order to participate in the digital transformation process are ongoing.

Regarding specific goals by 2025, the plan sets out three goals; providing quality digital financial services to serve society; optimally operating the activities of the Ministry of Finance; and encouraging social participation.

Providing service 24/7

With the goal of providing quality digital financial services to society, the Ministry of Finance aims to reduce, restructure, simplify, standardize and unify administrative procedures; provide new services based on the principle of ensuring service quality, reducing costs, proactively increasing social labor productivity; promptly respond to the needs of society.

People and businesses can use digital services online or in person. It is easy, simple and paperless. People are not required to present unless required by law.

Some specific criteria are included; 100% of administrative procedures eligible as prescribed are provided in the form of online public service at level 4; 100% of public services are designed and redesigned to optimize the user experience. When using online public services, information and data are filled automatically as previously provided under an agreement or collected and shared in accordance with the standard.

In addition, 100% of transactions conducted on the Public Service Portal and single window information system of the Ministry of Finance are authenticated electronically (e-Authentication), except for services requiring mandatory presence as regulated. The Public Service Portal and the single window information system of the Ministry of Finance are connected and share data with the National Public Service Portal. 100% of common online public services at levels 3 and 4, related to people and businesses are integrated into the National Public Service Portal.

At least 80% of administrative procedures dossiers are processed entirely online; information systems of the Ministry of Finance related to people and businesses that have been put into operation and are connected through an integration and data sharing platform; information of people and businesses has been digitized and stored in national databases.

At least 90% of people and businesses are satisfied with the resolution of administrative procedures; 100% of the single window division are applied information technology to solve problems; 100% of enterprises, organizations and individuals which are used e-invoices shall apply regulations on e-invoices.

Regarding the goal of maximally operating the activities of Ministry of Finance, the Ministry aims to provide services 24/7, ready to serve online whenever people and businesses need it. 100% of officers and employees of the Finance sector are assigned a digital identifier to perform tasks following the Government's roadmap on identification and electronic authentication.

Also, 100% of the necessary applications of the Finance sector are used and stored on the cloud computing platform and all internet-connected IT applications and services have IPV6.

Furthermore, 100% of the direction, operation and internal management of the Ministry of Finance are carried out based on an overall and unified platform for management and 100% of documents exchanged between units under the Ministry of Finance and between the Ministry of Finance and other state agencies are carried out in electronic form, signed by specialized digital signatures, except for confidential documents as prescribed.

Almost all, 90%, of work documents at the Ministry of Finance are processed on the internet (except for work documents under the scope of state secrets).

100% of the periodic reports (excluding confidential content) of the Ministry of Finance are updated and shared on the National Reporting Information System in line with the Government's general roadmap, which effectively serves the management activities and administration.

By Hoài Anh/Thanh Thuy