Many financial policies have a nature of orientation

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Mr. Ngo Huu Loi - the Director of the Legal Department under the Ministry of Finance.

Finance - budget is a large field, playing an important role in the process of modernization of the country. Thus, a large number of annual legal documents will contribute significantly to the development of the financial system in particular and socio-economic development in general. What do you think about the results achieved in this field last time?

On the whole, the financial law system has been quickly and synchronously completed to meet the objectives and requirements in the task of developing and finalizing legal documents on finance, contributing to ensuring macroeconomic stability; removing difficulties for production and business, maintaining the growth rate, taking initiatives in preventing economic decline and ensuring social welfare; meeting the requirements of integration and administrative reform. In recent years, a number of important Laws have been promulgated such as the Law on management and use of State property; the Law on Public Debt Management; and the Law on Tax Administration.

Some legal normative documents have been amended and supplemented with breakthrough policies that have a nature of orientation, promoting other sectors to change under the Socialist-oriented market economy such as the Price Law; and the Law on fees and charges.

Choosing the right breakthrough in building and finalizing financial policies has had a positive impact on improving the business environment and promoting socio-economic development. The task of building and finalizing legal documents is identified as the central task of the Ministry of Finance, which has always been closely concerned by the leader of the Ministry of Finance such as allocation of resources for this task, the assignment of specific tasks to each leader in charge of work, each department and each of its servants.

The drafting has been carried out in accordance with orientations and synchronous solutions which have made fundamental changes in quality improvement. Legal documents which are issued by the Ministry of Finance to submit to competent authorities for promulgation have basically met the criteria on uniformity, feasibility, and transparency. Legal operations have been renewed in terms of methodology, especially the renewal and application of compiling legal documents in order to improve the quality and facilitate the implementation.

The results in administrative reform and simplification of administrative procedures are considered as the "breakthroughs" of the Finance. Could you please share more about this issue?

The results in the administrative reform and simplification of administrative procedures in recent times have been quite comprehensive in all areas. The highlight of this work is the result of the implementation of the institutional reform task, including a comprehensive legal framework that facilitates public financial reform; amending, supplementing or promulgating legal normative documents to implement the simplification of administrative procedures in all areas, especially in the field of tax and Customs in order to reduce the number of hours for implementing tax procedures. The Finance has also institutionalized the Government's undertakings and solutions to improve the business environment and enhance the national competitiveness in a timely fashion.

In 2016, the Ministry of Finance submitted to the Government for submission to the Politburo for a resolution; completed the task of formulating laws and ordinances with the submission to the National Assembly for adoption of 2 Laws and 2 Resolutions of the National Assembly and submitted to the Standing Committee of the National Assembly for adoption of 3 Resolutions; submitted to the Government, the Prime Minister for promulgation 63 decrees, 20 decisions of the Prime Minister and 28 other projects; drafted and promulgated 328 Circulars. In particular, a large number of documents have been amended, supplemented or promulgated in order to remove difficulties and create favourable conditions for production and business as well as the implementation of the simplification of administrative procedures, such as the Law on Import and Export Duties; the Law on amendment and supplementation of a number of articles of the Law on VAT, the Law on Special Consumption Tax and the Law on Tax Administration.

Accordingly, the Minister of Finance issued 16 Decisions to standardize 908 administrative procedures in the areas of the management of the Ministry of Finance.

In 2016, the results in the reform of the institution and implementation of modernization in the Finance made the Ministry of Finance continue to hold the second position in the PAR Index. In particular, many indicators related to the implementation of the task of building, finalizing and organizing the implementation of financial Law reached the top.

As you said that the Ministry of Finance had been in second place in the Par Index for the 2 consecutive years. Can the second position in the Par Index be considered as a positive assessment in the public administration reform of the Finance?

The positive and comprehensive results in PAR index, including simplification of administrative procedures, have derived from close attention and direction the Ministry of Finance's leaders and efforts from central authorities to localities.

The results of the PAR index have recognized the tasks of the Ministry of Finance. However, in order to maintain the ranking position, it is also a great pressure for the Ministry of Finance on a large scale related to the production and business activities.

In the coming time, the Ministry of Finance will continue to accelerate the implementation of the Government's and the Ministry's programs and plans to comprehensively implement the tasks in Resolution No. 30c / NQ-CP on the issue of the total program public administration reform for the period 2011 - 2020; Resolution No. 19-2017 / NQ-CP on the implementation of the major tasks and solutions to improve the business environment, enhance the national competitiveness in 2017 towards 2020; Resolution No. 35 / NQ-CP on development of enterprises to 2020, along with the strengthening of inspections to timely ensure the effective the programs and the plans which have been set out.

The State Bank of Vietnam should pursue one of two goals VCN- The interest rates are forecasted to increase from now to the end of the year. Speaking ...

Thank you!