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The tasks and organizational structure of Ministry of Finance

13:41 | 01/08/2017

VCN- The Government has issued Decree 87/2017/ND-CP defining functions, tasks, powers and organizational structure of Ministry of Finance.  

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the tasks and organizational structure of ministry of finance
The Ministry of Finance is a Government agency. Photo: The Internet

Accordingly, the Ministry of Finance is a Government agency which has function of implementing the State management in finance (including State budget, tax, fees and other revenues of the State budget, national reserve, State financial funds, financial investment, corporate finance and cooperative finance and collective economy, State assets); customs; accounting; independent audit; insurance; prices; securities; financial and other service activities within its state management scope; conducting the ownership rights to the State’s investment capital in enterprises according to regulations of the Law.

The Ministry of Finance performs the tasks and exercises powers stipulated in Government’s Decree No.123/2016/ND-CP dated September 1st, 2016, defining the functions, tasks, powers and organizational structures of ministries and ministerial-level agencies, and the following specific tasks and powers.

Regarding to the State budget management, the Ministry of Finance summarizes, formulates and submits to the Government five-year financial plan, three-year State budget plan; annual State budget estimates and central budget allocation plan including regular expenditures, national reserve expenditures, interest expenditure, aid expenditures; Adjusts five-year financial plan, three-year State budget plan, State budget estimates and central budget allocation plan in case of necessity; Coordinates with the Ministry of Planning and Investment in formulating development investment estimates and allocation plan of capital-construction investment expenditures, state credit support expenditures, Joint venture and joint-stock capital contribution expenditures of the central budget in accordance with provisions of the law.

Besides, the Ministry of Finance guides the requirements, contents, time for formulation of three-year State budget plans, State budget estimates; notifies the examination numbers of regular expenditure estimates on the norm and each field to ministries, ministerial-level agencies, Government-attached agencies and other central agencies, regular expenditures estimates for national target programs and management agencies of these programs, and total budget revenues in localities and local budget expenditure estimates to each province and centrally run city.

Regarding corporate finance and the management of state capital in enterprises, the Ministry inspects and supervises the implementation of policies on management and use of state capital and assets in State owned enterprises and State invested enterprises of ministries People's Committees of provinces and cities under central.

Collaborating with the owner's representative agency to develop and implement supervision plans for enterprises; supervising under subject or requirement of the Government or the Prime Minister; Proposing and suggesting solutions to the owner's representative agency on investment, management and use of state capital in enterprises.

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Monitoring and supervising the management and use of capital and assets, analyzing and warning enterprises with signs of financial insecurity and assess the efficiency of production and business of State owned enterprises including: state-owned economic groups and corporations and State invested enterprises as in accordance with provisions of the law.

Organizational structure

Regarding to Organizational structure, the Ministry of Finance includes 29 units: 1- Department of State Budget, 2- Department of Investment, 3- Department of Finance for National Defense and Security (Department I), 4- Department of Public Expenditure, 5- Department of Tax Policy, 6- Department of Banking and Financial Institutions, 7- Department of International Cooperation, 8- Legal Department, 9- Department of Personnel and Training, 10- Department of Emulation and Commendation 11- Department of Finance Inspectorate 12- Ministerial Office, 13- Department of Public Asset Management 14- Department of Debt Management and External Finance 15- Department of Insurance Supervisory and management, 16- Department of Management and Supervision of Accounting and Auditing, 17- Department of Price Management, 18- Department of Financial Informatics and Statistics, 19- Department of Corporate Finance, 20- Department of Financial Planning, 21-General Department of Taxation, 22- General Department of Customs, 23- General Department of National Reserves, 24- State Treasury, 25- State Securities Commission, 26- National Institution for Vietnam Finance, 27- Vietnam Financial Times, 28- Financial Magazine, 29- Training Center for Financial Officers.

Organizations from 1 to 25 above are administrative organizations assisting the Minister in performing the state management function. The organizations from 26 to 29 above are non-business organizations serving the state management under the Ministry.

By Huong Diu/Ngoc Loan