Ministry of Finance merges with MPI and CMSC

The MoF headquarters

Deputy Prime Minister Ho Duc Phoc signed Decree 29 on February 24. It stipulates the functions, tasks, powers, and organisational structure of the Ministry of Finance (MoF) upon merging with the Ministry of Planning and Investment and CMSC.

The following bodies are now under the new organisational structure of the MoF:

1. National Economic Synthesis Department

2. State Budget Department

3. Department of Investment

4. Department of Finance - Industry Economy

5. Department of National Defence, Security, and Special Forces (Department I)

6. Department of Local and Territorial Economy

7. Department of Planning Management

8. Department of Financial Institutions

9. Department of Organisation and Personnel

10. Department of Legal Affairs

11. Ministerial Inspectorate

11. Office

12. Department of Debt Management and Foreign Economy

13. Department of Property Management

14. Department of Bidding Management

15. Department of Tax, Fee and Charge Policy Management, and Supervision

17. Department of Insurance Management and Supervision

18. Department of Management, Supervision of Accounting, and Auditing

19. Department of Price Management

20. Department of State-owned Enterprise Development

21. Department of Private Enterprise Development and Collective Economy

22. Foreign Investment Agency

23. Department of Planning and Finance

24. Department of IT and Digital Transformation

25. Tax Department

26. Customs Department

27. State Reserve

28. Department of Statistics

29. State Treasury

30. State Securities Commission

31. Institute of Economic and Financial Strategy and Policy

32. Finance - Investment Newspaper

33. Economics - Finance Magazine

34. Academy of Policy and Development

35. Vietnam Social Insurance

Among these, 30 units are administrative organisations that perform state management functions, four are public service units, and the Vietnam Social Insurance is a specialised unit under the ministry.

Minister of Finance Nguyen Van Thang

Minister Thang remains in charge of the MoF, along with four deputy ministers, Nguyen Duc Chi, Cao Anh Tuan, Le Tan Can, and Bui Van Khang.

Four deputy ministers of planning and investment have been appointed as deputy ministers of finance: Nguyen Duc Tam, Do Thanh Trung, Tran Quoc Phuong, and Nguyen Thi Bich Ngoc. Besides these, Ho Sy Hung, Vice Chairman of the CMSC, was also appointed as deputy minister of finance, according to the previous prime minister's decision on February 19.

The CMSC ceased operations on February 28 after it transferred 18 state-run corporations and groups to the MoF's management.

MoF rejects digital asset trading proposal The Ministry of Finance (MoF) has rejected a proposal to pilot digital asset and cryptocurrency trading in upcoming financial centres, citing concerns over financial security and regulatory gaps, according to a statement on February 20.

MoF proposes tax and land rent payment extension for 2025 According to the MoF, this is an extension policy, not a tax exemption or reduction.

Cutting red tape to bolster economic growth On February 27, the government met with state-owned enterprises (SOEs) to discuss tasks to contribute to the country's double-digit economic growth, and rapid and sustainable development.