State Treasury: Researching and piloting chain technology, AI into operation

VCN – To form a digital-based treasury by 2025, besides administrative reform and modernization of professional activities, the State Treasury continues to modernize information technology, forming the basic steps for digital transformation.
According to the State Treasury Development Strategy to 2030, by 2025, the State Treasury will operate based on digital data and complete the digital treasury platform. Photo: Thùy Linh
According to the State Treasury Development Strategy to 2030, by 2025, the State Treasury will operate based on digital data and complete the digital treasury platform. Photo: Thùy Linh

Piloting remote digital signing technology

Implementing the Government's scheme No. 06 on developing the application of population data, e-identification and e-authentication to the national digital transformation in 2022 - 2025, with a vision by 2030, the State Treasury has provided utilities so that units of the Public Security sector can make and approve the signing of authorization numbers for payment and collection from temporary collection accounts; connect to the National Public Service Portal to receive refund orders and fees for state budget refund.

The State Treasury said that the whole Industry had piloted remote digital signing technology, helping budget-using units have less dependence on USB token devices, allowing biometric verification (face or fingerprint), against lending USB tokens to enhance security; piloting data connection with electricity, water and telecommunications service providers to actively make payment for budget-using units under their electronic authorization in Hanoi and Ho Chi Minh City.

The State Treasury has completed the large-scale implementation of a program on managing and controlling capital expenditure for basic construction investment through the State Treasury. The State Treasury units have exploited and used the program to control investment expenditure from the stage of total investment, medium-term capital plan, annual capital plan, project items, works and each contract A - B, implementing payment commitments and controlling payments. At the same time, the data is timely aggregated for periodic reports following Circular No. 15/2021/TT-BTC of the Ministry of Finance...

Besides upgrading and building application software systems and programs, the State Treasury also focuses on building the overall design of the State Treasury's information technology security system following international practice standards and information security policies, completing the construction of disaster prevention for information technology systems. This has helped to minimize the risks of information insecurity, helping the State Treasury's information technology application systems to operate stably, safely and effectively.

Moving towards digitization and electronic storage

The State Treasury said that in the future, this unit would coordinate with relevant parties to research and test blockchain technology in professional activities. Through testing, State Treasury realized some potential applications and knew the level of technological maturity, thereby proposing a roadmap for continuing research applications for the next phase.

The State Treasury will also coordinate with several technology partners to research and pilot artificial intelligence (AI) technology into professional activities such as consulting, answering policies and laws in the treasury, field, support and operation, and risk management. The research results showed a high potential for application in support, operation (virtual assistant, collecting user habits to improve service quality), and risk management (data-based business risk assessment).

In the condition that nearly 100% of state budget revenue and expenditure transactions of the State Treasury have been carried out through online public services as well as through banks, the research, development and implementation of an electronic storage system has gradually increased to replace paper storage, starting from storing records and documents of state budget expenditure in 2023, progressing to the digitization and electronic storage following the roadmap of promulgating and completing legal provisions about electronic storage. It is a step that brings efficiency as well as ensures prudence.

The State Treasury promoted communication and data connection with ministries, departments and sectors as well as with budget users (customers), contributing to achieving the goal: by 2025, the State Treasury will operate based on digital data and complete the Digital Treasury platform.

By Thuỳ Linh/Thanh Thuy

Related News

Digitalizing procedure for social welfare payment at State Treasury

Digitalizing procedure for social welfare payment at State Treasury

VCN - The Government has given directives to promote digital transformation in social welfare payments. Therefore, promoting the digitalization and electronicization of revenue and expenditure transactions at the State Treasury has been identified as one of the most important tasks.
The State Treasury ensures budget balance by effectively mobilizing Government bonds

The State Treasury ensures budget balance by effectively mobilizing Government bonds

VCN – The State Treasury continues to mobilize Government bonds effectively, thereby supporting budget management to promptly meet public spending demands.
“3 priorities, 3 breakthroughs” in task deployment of State Treasury

“3 priorities, 3 breakthroughs” in task deployment of State Treasury

VCN - To complete the task from now until the end of 2024 and successfully implement the State Treasury Development Strategy as planned, Deputy Minister of Finance Bui Van Khang stated "3 priorities, 3 breakthroughs" " and 7 notes in task performance.
Plan of bidding VND400,000 billion of government bonds with term 2024

Plan of bidding VND400,000 billion of government bonds with term 2024

VCN - The State Treasury has just announced details plan of the 2024 government bond bidding by term.

Latest News

PM demands strengthened gold market management

PM demands strengthened gold market management

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.
Budget expenditures reached VND393.5 trillion, growing 8.3% over the same period in the first quarter

Budget expenditures reached VND393.5 trillion, growing 8.3% over the same period in the first quarter

VCN - The Ministry of Finance said that the total balance of budget expenditure in March was estimated at VND140.3 trillion; accumulated budget expenditures in the first quarter of 2024 reached VND393.5 trillion, equal to 18.6% of current appropriation, an increase of 8.3% over the same period in 2023.
Inflationary pressure stems  from commodity price fluctuations

Inflationary pressure stems from commodity price fluctuations

VCN – According to a report from the Ministry of Finance, the domestic market prices in the first quarter were stable and fluctuated in accordance with the price management scenario of the Price Management Steering Committee. However, the current impact from adjusting the prices of essential goods is a pressure on inflation control.
SMEs offered loans at preferential rates of 1.2-4.4%

SMEs offered loans at preferential rates of 1.2-4.4%

To create additional capital mobilisation channels for small- and medium-sized enterprises (SMEs), Vietnam’s Small- and Medium-sized Enterprise Development Fund under the Ministry of Planning and Investment is offering SMEs loans at preferential interest rates of 1.2-4.4% per year.

More News

Public investment disbursement needs to be accelerated to boost growth: insiders

Public investment disbursement needs to be accelerated to boost growth: insiders

Public investment is currently still an important growth driver, which needs to be accelerated so as to help the economy achieve a 6.5% growth this year, according to insiders.
Banks seek to attract foreign capital

Banks seek to attract foreign capital

VCN - Banks are actively developing plans to attract capital from foreign investors through various methods, aiming to enhance their capital "buffers" and improve their management and operational standards to meet international levels.
Budget revenue collection for the first quarter of 2024 achieved quite well compared to current appropriation

Budget revenue collection for the first quarter of 2024 achieved quite well compared to current appropriation

VCN - In the first 3 months of 2024, total revenue collection is estimated to reach VND539.5 trillion, equal to 31.7% of current appropriation, an increase of 9.8% over the same period in 2023. According to the Ministry of Finance's assessment, revenue of the first quarter of 2024 is quite good compared to current appropriation, mainly due to the concentration of revenues arising in the fourth quarter of 2023 and the difference according to the tax finalization 2023 following the regime of declaration and payment to the state budget in the first quarter of 2024.
Continue to implement and complete important customs cooperation initiatives in ASEAN

Continue to implement and complete important customs cooperation initiatives in ASEAN

VCN - Talking to the press on the sidelines of the 28th ASEAN Finance Ministers' Meeting (AFMM 28) taking place in Luang Prabang, Laos, Vietnam’s Minister of Finance Ho Duc Phoc emphasized that the meeting affirms the determination of ASEAN financial agencies to strengthen cooperation and work together to solve common challenges of the region in the context of the world and the region facing many changes, difficulties and challenges.
28th AFMM, 11th AFMGM gain great success

28th AFMM, 11th AFMGM gain great success

VCN - In the framework of ASEAN 2024 Financial Cooperation, the 28th ASEAN Finance Ministers' Meeting, the 11th ASEAN Finance Ministers' and Central Bank Governors’ Meetings and related conferences were held in Luang Prabang, Laos from April 4-5. Minister of Finance Ho Duc Phoc led the delegation of the Ministry of Finance of Vietnam to attend the meetings.
Many positive signals from stock market upgrade

Many positive signals from stock market upgrade

VCN - Many crucial knots in the process of upgrading the stock market are being untangled by the Government and relevant agencies. Thanks to proactive moves from the management agencies, experts assessed that the stock market was likely to be upgraded according to the set objectives.
Promote the implementation of audit recommendations to prevent violations in public financial management

Promote the implementation of audit recommendations to prevent violations in public financial management

VCN - Recently, besides many ministries, branches, localities and units that have made efforts to implement audit conclusions and recommendations, there are still many conclusions and recommendations that have not been implemented. Many audit recommendations have been "on hold" for many years, leading to a backlog of financial resolution recommendations amounting to trillions of dong. For the implementation of recommendations to achieve high results and prevent violations in the management of public finances and public assets, there needs to be a synchronous solution from many sides.
Pressure on Corporate bond maturity will fall in mid-2024

Pressure on Corporate bond maturity will fall in mid-2024

VCN – In the first quarter of 2024, the Corporate bond placement has achieved positive results. According to assessment, in 2024, the gradual recovery of the real estate market will promote bond placement from real estate businesses as well as solve problems of late repayment of bond principal and interest in the new cycle.
Many obstacles and bottlenecks for the green credit market, green bonds in Vietnam

Many obstacles and bottlenecks for the green credit market, green bonds in Vietnam

VCN - At the seminar "Improving the legal framework for the development of green credit, green bonds: Urgent issues" held on April 3, 2024, experts pointed out the shortcomings in the development of green credit, green bonds as well as proposed some solutions to overcome them.
Read More

Your care

Latest Most read
PM demands strengthened gold market management

PM demands strengthened gold market management

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.
Budget expenditures reached VND393.5 trillion, growing 8.3% over the same period in the first quarter

Budget expenditures reached VND393.5 trillion, growing 8.3% over the same period in the first quarter

The Ministry of Finance said that the total balance of budget expenditure in March was estimated at VND140.3 trillion
Inflationary pressure stems  from commodity price fluctuations

Inflationary pressure stems from commodity price fluctuations

VCN - According to the Ministry of Finance, prices of essential goods are relatively stable in March 2024 because the supply is still quite abundant while demand is not high.
SMEs offered loans at preferential rates of 1.2-4.4%

SMEs offered loans at preferential rates of 1.2-4.4%

To create additional capital mobilisation channels for small- and medium-sized enterprises (SMEs), Vietnam’s Small- and Medium-sized Enterprise Development Fund under the Ministry of Planning and Investment is offering SMEs loans at preferential interest rates of 1.2-4.4% per year.
Public investment disbursement needs to be accelerated to boost growth: insiders

Public investment disbursement needs to be accelerated to boost growth: insiders

Public investment is currently still an important growth driver, which needs to be accelerated so as to help the economy achieve a 6.5% growth this year, according to insiders.
Mobile Version