State Treasury Development Strategy by 2030: Digital transformation in professional operation and internal administration
Accordingly, the State Treasury system will enhance the application of IT, towards digital transformation in professional activities and internal administration; continue to promote administrative reform across the whole State Treasury system.
Professional activities at Moc Chau State Treasury. Photo: Thùy Linh |
Promoting “digitalization”, increasing utilization
With the goal of becoming a digital treasury, the State Treasury offers specific tasks and solutions to build and deploy the State Treasury's information technology architecture in line with the e-Government architecture, in which, the information system of the digital State budget and accounting will act as the core system, connecting, communicating and sharing data with the National Procurement Network, national database and other relevant systems.
In addition, digitizing professional operations of the State Treasury and providing open data on the state budget - finance through upgrading and developing the Budget and Treasury Management Information System and related systems into the Digital State Budget and Accounting Information System based on modern technology, allowing the provision of digital services, serving the needs of people, businesses, agencies, and units. It is also accessible as well as able to exploit information widely.
At the same time, building and completing other information technology application systems to meet the requirements of reform and modernization of the State Treasury; applying effectively digital technologies such as Cloud Computing, Big Data, Mobility, Internet of things (IoT), artificial intelligence (AI), Blockchain, in the development of the Digital Treasury apps and services in order to optimize the management and service provision of the State Treasury.
Along with that, the State Treasury continued to perfect security systems and solutions, risk prevention; operation supervision system and information security monitoring system, ensuring that the information technology system is always operated safely, stably and smoothly in all situations.
To accomplish these goals, the State Treasury has currently implemented inter-connected professional applications (online public services - Treasury and Budget Management Information System (TABMIS) - electronic bilateral payments).
Recording and evaluating the initial implementation results showed that the interconnection has brought good results when timely responding and better serving the demands of expenditure of budget-using units, especially in the context of the Covid-19 pandemic.
Completing the construction of the Digital Treasury by 2030
In the State Treasury Development Strategy to 2030, the State Treasury sets a target that by 2025, basically all transactions of state budget revenues and expenditures through the State Treasury will be done electronically (except for transactions within the scope of state secrets); linking digital data of the stages of estimating, allocating, implementing, accounting, auditing and finalizing the state budget; share information and data of state budget revenues and expenditures in real-time; perfecting the mechanism to control state budget expenditure towards risk control.
After 2025, focus on research and development of services following the needs of people, businesses and state agencies.
By 2030, complete the construction of the Digital Treasury. At the same time, strive to achieve the average issuance term of Government bonds from 9-11 years, with reasonable interest rates and issuance costs, contributing to restructuring, increasing the safety and sustainability of public debt.
The State Treasury will provide complete, timely and accurate information on state budget-finance in accordance with public accounting standards to serve the leadership, direction and administration of competent agencies and activities of inspection and supervision, improving the publicity and transparency in the management and use of state financial resources.
Furthermore, by 2030, the time to prepare and submit state budget finalization reports and annual state financial statements will be reduced from 6 to 12 months compared to 2020.
Related News
Policy adaptation and acceleration of digital transformation in tax and customs management
10:03 | 14/11/2024 Regulations
What do businesses need for digital transformation?
09:20 | 17/11/2024 Headlines
Reducing logistics costs: A solution for competitiveness and attracting import-export goods
10:56 | 15/11/2024 Import-Export
Public investment spending up 1.8% in first 10 months of 2024
10:03 | 08/11/2024 Finance
Latest News
Monetary policy forecast unlikely to loosen further
15:51 | 22/11/2024 Finance
World Bank outlines path for Vietnam to reach high income status
13:44 | 22/11/2024 Finance
Strictly control public debt and ensure national financial security 2025
09:26 | 22/11/2024 Finance
Revising the title of a draft of 1 Law amending seven finance-related laws
14:33 | 21/11/2024 Finance
More News
Transparency evates the standing of listed companies
09:47 | 21/11/2024 Finance
State-owned securities company trails competitors
14:46 | 20/11/2024 Finance
Strengthening the financial “health” of state-owned enterprises
09:23 | 20/11/2024 Finance
U.S. Treasury continues to affirm Vietnam does not manipulate currency
13:46 | 19/11/2024 Finance
Exchange rate fluctuations bring huge profits to many banks
13:43 | 19/11/2024 Finance
A “picture” of bank profits in the first nine months of 2024
09:42 | 19/11/2024 Finance
Many challenges in restructuring public finance
10:02 | 18/11/2024 Finance
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs
09:19 | 17/11/2024 Finance
Disbursement of public investment must be accelerated: Deputy PM
19:32 | 16/11/2024 Finance
Your care
Monetary policy forecast unlikely to loosen further
15:51 | 22/11/2024 Finance
World Bank outlines path for Vietnam to reach high income status
13:44 | 22/11/2024 Finance
Strictly control public debt and ensure national financial security 2025
09:26 | 22/11/2024 Finance
Revising the title of a draft of 1 Law amending seven finance-related laws
14:33 | 21/11/2024 Finance
Transparency evates the standing of listed companies
09:47 | 21/11/2024 Finance