State Treasury urged to manage State budget efficiently
Deputy Prime Minister Vuong Dinh Hue asked the State Treasury of Vietnam to manage the State budget efficiently, which is critical in promoting socio-economic development.
Deputy Prime Minister Vuong Dinh Hue poses with the staff of the State Treasury of Vietnam (Source: VNA)
Hanoi (VNA) - Deputy Prime Minister Vuong Dinh Hue asked the StateTreasury of Vietnam to manage the State budget efficiently, which is criticalin promoting socio-economic development.
Speaking at the meeting with the State Treasury on January 30, Hue stressedthat the treasury must develop solutions to enhance the efficiency of the Statebudget, with focus placed on speeding up the disbursement of public investment.
Resources must be spent for the right purposes to achieve socio-economicdevelopment goals and ensure the sustainable development of the Vietnameseeconomy, Hue said.
He urged the treasury to enhance reforms and modernisation as well as focus ondeveloping human resources to better serve residents and businesses.
The State Treasury must issue a development strategy, which must be appropriateto the country’s finance development strategy and socio-economic developmentstrategy to 2030, he said, adding it must contribute to building a stable andstrong national finance for the country’s prosperous development.
In 2020, the State Treasury targeted that all State-budget transactions wouldbe conducted online. In addition, cooperation with relevant agencies would beenhanced to speed up disbursement of public investment.
Hue said that 2020 was an important year for Vietnam because this was the finalyear of the 2016-20 five-year plan to create the impetus for the next five-yearperiod.
The global slowdown was posing challenges to Vietnam, Hue said, urging effortsby the State Treasury to overcome difficulties to have a better year in 2020.
The Deputy PM also visited Military Commercial Joint Stock Bank (MB) on January30, the first working day after Tet (Lunar New Year) holiday.
Hue urged the bank to speed up the digitalisation process to improve servicequality and ensure convenience for customers. In addition, MB should focus ondeveloping non-credit services.
MB should strive to maintainthe position in the top five commercial banks by operation efficiency of Vietnam, he asked.
MB reported a pre-tax profit of10 trillion VND in 2019, up 29.1 percent over 2018. Its ratio of bad debt wasmanaged under 1.2 percent./.
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Deputy Prime Minister Vuong Dinh Hue poses with the staff of the State Treasury of Vietnam (Source: VNA) 
