Perfect legal system on finance and budget in effective manner: Minister of Finance

VCN- Minister of Finance Ho Duc Phoc requested the finance sector to focus on perfecting and issuing legal documents in an effective manner at an online conference reviewing performance in April and deploying tasks for May held by the Ministry of Finance conference on May 17.
Minister of Finance Ho Duc Phoc appointed as Deputy Director of the Permanent Committee of the Steering Committee 389 Minister of Finance Ho Duc Phoc appointed as Deputy Director of the Permanent Committee of the Steering Committee 389
Base on estimate to fulfill revenue collection: Minister of MoF Base on estimate to fulfill revenue collection: Minister of MoF
Mr. DinhTien Dung, Member of the Politburo, Minister of Finance: Financial foundation and resources are getting better Mr. DinhTien Dung, Member of the Politburo, Minister of Finance: Financial foundation and resources are getting better
3722-0310-187428772-374716493925259-7405634005835404194-n
Minister of Finance chaired the conference.

State revenue reaches significant in the first four months

The Ministry of Finance reported that total State revenue in the first four months is estimated at VND 543.4 trillion or 40.5% of the estimate. Domestic revenue is estimated at VND456.3 trillion and revenue from crude oil is expected to reach VND12, 000 billion.

In the first four months of the year, the balanced budget revenue is estimated at VND543.4 trillion or 40.5% of the estimate. The domestic revenue is expected to reach VND456.3 trillion revenue from crude oil is expected to reach VND12, 000 billion.

Director General of Vietnam Customs Nguyen Van Can said the whole Customs sector tackled 1,397 violations; the estimated value of infringing goods is more than VND113 billion 393 million and collected VND11billion 564 million. It prosecuted three cases and transferred five cases to other authorities for prosecution.

Total balanced expenditure is VND463.7 trillion, of those, expenditure on development investment, interest payment, recurrent expenditure is VND86 trillion, VND38.8 trillion and VND338.1 trillion, respectively.

Budget expenditures in the first four months of the year are performed in tandem with the estimate and progress of budget-using units, meeting the needs of socio-economic development and national defence, security, State management and debt payment, and ensuring expenditures for social security.

The central and local budgets have prioritised for the prevention and control of Covid-19 pandemic, overcoming the consequences of natural disasters and diseases, performing important political tasks, ensuring national defence and security, and well implementing social security policies.

The central budget has made a provision of nearly VND3 trillion, with VND1,740 billion for the Ministry of Health to import vaccines worth VND1,237 billion and purchase medical supplies, chemicals, biological products and necessary equipment for Covid-19 prevention and control; and supported VND314 billion for localities to prevent the Covid-19 pandemic.

Focus on completing the Financial sector development strategy for 2021 - 2030

At the conference, Minister of Finance Ho Duc Phoc said that the finance sector has made efforts to basically complete its tasks in April 2021.

The minister requested the whole sector work to complete the financial sector development strategy for 2021-2030, develop and complete the State Treasury Development Strategy, the Customs sector development strategy by 2030 and complete four projects, including documents submitted to the Government on principles, criteria and norms for the allocation of recurrent expenditures from the State budget in 2022.

Complete and promulgate documents on schedule, ensure quality, consistent with the Constitution, without overlapping to create momentum for the development; submit to the Government a budget decentralisation project in accordance with allocation of the central budget and the initiative of the local budget.

The minister asked the units under the Ministry of Finance to closely monitor and prevent Covid-19 pandemic effectively, administer budget in a proactive and a flexible manner, ensuring sustainable national finance.

The General Department of Taxation is required to focus on performing budget collection, preventing transfer pricing, piloting and issuing legal documents on digital-based tax collection, applying issue e-invoice, and completing tax regulations.

The minister asked the General Department of Vietnam Customs to perform effectively revenue collection, control customs clearance, strengthen the anti- smuggling and perfect policies.

He also required the State Treasury to advise and submit to the Ministry of Finance to submit to the Government the report on State budget settlement in 2019, the State financial report in 2019 and report to the National Assembly in a timely fashion; create the most favourable conditions for expenditures in the direction of implementing the three nos (no cash payment, no customer contact, no paper invoices).

The minister also emphasised that the Ministry of Finance has fully prepared funds to buy supplies, equipment and vaccines for pandemic prevention and control. Along with that, departments of the Ministry of Finance must urgently review and promptly issue guiding documents on the procurement of pandemic prevention equipment nationwide.

By Hoai Anh/Ngoc Loan

Related News

Customs crackdown nets 1,430 violations in first month

Customs crackdown nets 1,430 violations in first month

VCN - In January 2025, the number of violations detected, seized, and processed by customs authorities increased by 9.6%, and the value of the illicit goods involved increased by 19.4% compared to the same period in 2024.
State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Hai Phong Customs implements solutions to facilitate trade

Hai Phong Customs implements solutions to facilitate trade

VCN - In 2024, trade turnover of Hai Phong Customs Department saw a sharp increase compared to 2023 to more than US$132 billion.
HCMC Customs: Outstanding performance across all operations

HCMC Customs: Outstanding performance across all operations

VCN - On January 2, 2025, the Ho Chi Minh City (HCMC) Customs Department held its annual review conference to assess 2024 achievements and outline tasks for 2025. The event was attended by Vice Chairman of HCMC People's Committee Nguyen Van Dung and Deputy Director General of Vietnam Customs Dinh Ngoc Thang, who delivered keynote speeches.

Latest News

Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units with large asset scale and large number of inventory items, complex assets, and slow implementation progress.
The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

VCN - The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more; the average growth rate of the consumer price index (CPI) to about 4.5-5%.
Fiscal, monetary policies support demand stimulation, price stabilisation

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.
Vietnam secures VND 157 billion from state enterprise divestment in 2024

Vietnam secures VND 157 billion from state enterprise divestment in 2024

VCN - The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion

More News

Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.
VN’s credit conditions in 2025 expected to be stable

VN’s credit conditions in 2025 expected to be stable

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN- On February 3, the first working day after the Tet holiday, Minister of Finance Nguyen Van Thang and the delegation visited and worked with the General Department of Vietnam Customs (GDVC).
The stock market after Tết 2025 presents both challenges and opportunities

The stock market after Tết 2025 presents both challenges and opportunities

Việt Nam’s stock market following the 2025 Lunar New Year (Tết Nguyên Đán) presents a complex landscape of risks and potential gains, driven by foreign capital inflows, economic resilience, and looming corporate bond maturity pressures, according to one securities expert.
Opportunities and challenges in Việt Nam

Opportunities and challenges in Việt Nam's crypto boom

Việt Nam boasts one of the most active investment communities in the cryptocurrency sector. However, protecting investors and promoting sustainable growth requires a robust legal framework.
Đà Nẵng aiming to become a regional financial centre before 2050

Đà Nẵng aiming to become a regional financial centre before 2050

The city is setting out goals to promote the development of the financial system in the 2021-30 period, striving for Đà Nẵng to become a regional financial centre in just 25 years.
Read More

Your care

Latest Most read
Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units
The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more
Fiscal, monetary policies support demand stimulation, price stabilisation

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.
Vietnam secures VND 157 billion from state enterprise divestment in 2024

Vietnam secures VND 157 billion from state enterprise divestment in 2024

The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion
Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics.
Mobile Version