THE GOVERNMENT THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

No. 29/2025/ND-CP Hanoi, February 24, 2025

DECREE
Defining the functions, tasks, powers and organizational
structure of the Ministry of Finance1

Pursuant to the February 18, 2025 Law on Organization of the Government;

At the proposal of the Minister of Finance;
The Government promulgates the Decree defining the functions, tasks, powers
and organizational structure of the Ministry of Finance.

Article 1. Position and functions

The Ministry of Finance is an agency of the Government, performing the
function of state management of socio-economic development strategies and
plans; planning; development investment, business investment in Vietnam and
offshore business investment from Vietnam, and investment promotion; state
budget; state treasury; public debts; foreign aid for Vietnam and Vietnam’s aid for
foreign countries; taxes, charges, fees and other revenues belonging to the state
budget; state reserves; finance for off-budget state financial funds; public
assets; customs; accounting; audit; price; securities; insurance; bidding; enterprises
, collective economy, cooperative economy, and business households; economic
zones; financial services and other services under the Ministry’s state
management; statistics; implementation of social insurance and health insurance
policies, and owners’ representation for state capital amounts invested in
enterprises in accordance with law.
Article 2. Tasks and powers
The Ministry of Finance has the tasks and powers defined in the Law
on Organization of the Government, and the Decree defining the functions, tasks,
powers and organizational structures of ministries and ministerial-level agencies,
and the following specific tasks and powers:

1
Công Báo Nos 491-492 (16/3/2025)

 Vietnam Law & Legal Forum 1

 1. To submit to the Government draft laws and draft resolutions of the
National Assembly, and draft ordinances and draft resolutions of the National
Assembly Standing Committee; and draft decrees and draft resolutions of the
Government under the Ministry’s approved annual lawmaking programs and plans
as well as programs, projects and schemes assigned by the Government or the
Prime Minister.
2. To submit to the Government and the Prime Minister for approval
strategies, master plans, programs and medium-term, long-term and annual
development plans on the domains under the Ministry’s state management; and
drafts of decisions, directives and other documents of the Prime Minister in
accordance with law.
3. To promulgate circulars, decisions, directives and other documents under
the Ministry’s state management.
4. To direct, guide, examine and organize the implementation of legal
documents, policies, strategies, master plans and plans after they are promulgated
or approved and other legal documents under the Ministry’s state management; to
carry out information and public communication about, and educate, the law on the
domains under the Ministry’s state management.
5. Regarding socio-economic development strategies and plans; and sector
development strategies and plans under the Ministry’s management; and planning
a/ To formulate socio-economic development strategies and 5-year and annual
socio-economic development plans of the whole country; sector development
strategies and plans under the Ministry’s management; national overall master
plans and regional master plans; implementation plans, policies, solutions,
allocation of resources, and organization of announcement of national overall
master plans and regional master plans after they are approved;
b/ To formulate the Government’s action programs for implementation of 5-
year socio-economic development plans after they are approved by the National
Assembly; to advise the Government and the Prime Minister on general
mechanisms and policies on socio-economic affairs and coordination in
macroeconomic management and administration; to assist the Government in
administering the implementation of plans on a number of sectors and fields as
assigned by the Government and the Prime Minister;
c/ To summarize major macro-balances of the national economy; to propose
solutions to maintain the balances according to strategic objectives and plans,
ensuring the realization of objectives of socio-economic development plans;

 Vietnam Law & Legal Forum 2

 d/ To formulate, and give general advice on, mechanisms and policies on
mobilization and use of development resources for the implementation of socio-
economic development strategies and plans, development investment types and
modes, development of economic sectors, thereby restructuring the economy in
association with the renewal of the growth model, and coordination for regional
and inter-regional development;
dd/ To guide ministries, sectors and localities in monitoring and evaluating
the implementation of their plans; to monitor, evaluate and report on the
implementation of the country’s socio-economic development plans on a monthly,
quarterly, annual, mid-term or 5-year basis;
e/ To assume the prime responsibility for appraisal of provincial planning
tasks and provincial master plans; to propose the Government to establish the
Council for appraisal of the task of formulating national overall master plans and
the Council for appraisal of national overall master plans; to propose the Prime
Minister to establish the Council for appraisal of regional planning tasks and the
Council for appraisal of regional master plans;
g/ To guide ministries, ministerial-level agencies and provincial-level
People’s Committees in formulating, and organizing the implementation of, master
plans.
6. Regarding management of the state budget
a/ To summarize information, formulate and submit to the Government
national 5-year financial plans and national 3-year finance-state budget
plans; annual state budget estimates and central budget allocation plans in
accordance with the Law on the State Budget; and adjustment of the national 5-
year financial plans, state budget estimates and central budget allocation plans (if
any); to assume the prime responsibility for considering and proposing the total
recurrent expenditure for national target programs in the course of their
formulation and submission to competent authorities for approval; to balance and
allocate funds for annual recurrent expenditures for implementation of such
programs after they are approved;
b/ To formulate and submit to the Government plans on supplementation of
estimates of increased revenues of the state budget, plans on allocation and use of
increased revenues and saved expenditures of the central budget, and plans on
adjustment of state budget estimates under regulations;
c/ To formulate and submit to the Prime Minister a draft decision on
assignment of budget revenue and expenditure tasks to each of ministries,
ministerial-level agencies, government-attached agencies and other central
agencies, revenue and expenditure tasks, percentage (%) for division of revenues,

 Vietnam Law & Legal Forum 3

and target transfers from the central budget to each of provinces and centrally run
cities in accordance with the Law on the State Budget;
d/ To decide according to its competence or submit to the Prime Minister for
decision the use of the central budget contingency, the use of the central financial
reserve fund and other financial reserve sources in accordance with law;
dd/ To assume the prime responsibility for, and coordinate with other
ministries, ministerial-level agencies, government-attached agencies, other central
agencies and provincial-level People’s Committees in, formulating and submitting
to the Government or the Prime Minister for promulgating, or promulgate
according to its competence regulations on allocation norms and budget
expenditure regimes, criteria and norms in accordance with the law on the state
budget;
e/ To provide guidance on requirements, contents and time limits for
formulation of 5-year financial plans, 3-year finance-state budget plans, and annual
state budget estimates; to notify checked figures of budget revenue estimates, total
amounts of budget recurrent expenditures and the amount for each field of
ministries, government-attached agencies and other central agencies; total budget
revenues in localities and estimates of expenditures for the local budget balance for
each province or centrally run city;
g/ To organize the implementation of the state budget and administration of
the central budget according to its competence; to monitor and urge the
implementation of budget estimates by authorities at all levels;
h/ To examine the allocation of assigned budget estimates by ministries,
ministerial-level agencies, government-attached agencies and other central
agencies; to guide the management and administration of budgets of ministries,
sectors and localities; to direct and inspect the performance of budget revenue and
expenditure tasks by ministries, ministerial-level agencies, government-attached
agencies, other central agencies and localities;
i/ To organize and direct the accounting and account-finalization of the state
budget and periodically report on the implementation of budget revenue and
expenditure estimates in accordance with law;
k/ To appraise and summarize account-finalized figures of budgets of
ministries, ministerial-level agencies, government-attached agencies and other
central agencies; to summarize account-finalized figures of local budgets in
accordance with the Law on the State Budget; to summarize and submit to the
Government for submission to the National Assembly for approval total account-
finalized figures of the state budget;

 Vietnam Law & Legal Forum 4

 l/ To make advance payment from the central budget according to its
competence or decisions of competent authorities in accordance with the Law
on the State Budget and guiding documents;
m/ To recover advance payments of the central budget;
n/ To prepare state financial statements nationwide and report thereon to
competent state agencies in accordance with law;
o/ To assume the prime responsibility for, and coordinate with related
ministries and agencies in, formulating and submitting to the Government for
decision financial policies and solutions under the Ministry’s state management in
order to curb inflation or deflation in the economy.
7. Regarding development investment management
a/ To assist the Government in performing the unified state management of
public investment, investment in the form of public-private partnership (PPP
investment) and other forms of development investment; to promulgate or submit
to competent authorities for promulgation legal documents on public investment,
PPP investment and other forms of development investment, and general
regulations on management of national target programs;
b/ To assume the prime responsibility for, and coordinate with related
ministries and sectors and localities in, formulating principles, criteria and norms
for allocation of public investment capital from the state budget; to formulate
principles and criteria for allocating capital for key, large-scale and region-linking
projects, thereby creating a driving force for socio-economic development of the
country and regions;
c/ To assume the prime responsibility for, and make general summaries on,
development investment; to formulate the total level and structure of development
investment capital of the whole society, investment plans/adjustments to medium-
term and annual public investment plans; to report to competent authorities for
inclusion of public investment plans in state budget sources, determination of the
state budget’s investment capital to be spent on development investment of the
country and by sector in 3-year and annual finance-budget plans; to summarize the
total capital amount for national target programs, public investment programs,
national important projects, key, large-scale and region-linking projects of
spillover effect that can promote regional and local socio-economic development,
and the list of programs, tasks and projects funded by the central budget under
medium-term public investment plans;
d/ To assume the prime responsibility for, and coordinate with related
agencies in, appraising capital sources and capital-balancing capacity for national

 Vietnam Law & Legal Forum 5

target programs, national important projects, and public investment programs and
projects subject to investment policy decision by the Government or the Prime
Minister;
dd/ To report to the Government and the Prime Minister on the
implementation of public investment capital plans and disbursement of public
investment capital and the account-finalization of completed projects funded by
public investment capital, and disclose information thereon under regulations;
e/ To act as the Standing Body of the State Appraisal Council for national
target programs and projects subject to the National Assembly’s investment policy
approval; to act as the Standing Body of the Interdisciplinary Appraisal Council for
PPP projects subject to the Prime Minister’s investment policy decision; to
appraise investment policy for programs and projects subject to the Prime
Minister’s investment policy decision or approval in accordance with the Law on
Public Investment and the Law on Investment in the Form of Public-Private
Partnership;
g/ To examine, monitor, and carry out overall evaluation of, investment
activities; to examine, inspect and monitor public investment and PPP programs
and projects in accordance with law;
h/ To act as the focal point in performing the state management of industrial
parks, economic zones, free trade zones and other types of economic zones; to
propose models, mechanisms and policies on the development of industrial parks,
economic zones, free trade zones and other types of economic zones; to appraise
the establishment, expansion, and adjustment of boundaries, of economic zones,
free trade zones and other types of economic zones.
8. Regarding business investment in Vietnam and offshore business
investment from Vietnam; investment promotion
a/ To manage business investment activities in Vietnam and offshore business
investment activities from Vietnam; to organize investment promotion activities,
and guide investment procedures;
b/ To assume the prime responsibility for appraising investment policy for
investment projects subject to investment policy approval by the Prime Minister or
the National Assembly in accordance with the Law on Investment;
c/ To carry out procedures for grant, modification and invalidation of offshore
investment registration certificates;
d/ To guide the implementation of the regime of processing and updating of
information and reporting on problems and petitions of investors related to law

 Vietnam Law & Legal Forum 6

application and enforcement in the course of carrying out business investment
activities;
dd/ To inspect, monitor and evaluate domestic investment, foreign investment
and offshore investment activities in accordance with law.
9. Regarding taxes, charges, fees and other state budget revenues
a/ To assume the prime responsibility for, and coordinate with related
agencies in, formulating and submitting to competent authorities for promulgation,
and guide and inspect the implementation of, legal documents on taxes, charges,
fees and other state budget revenues;
b/ To uniformly manage, direct and inspect the collection of taxes, charges,
fees and other state budget revenues in accordance with law by tax, customs and
other agencies assigned by the State to collect charges, fees or other state budget
revenues;
c/ To decide according to its competence or submit to competent authorities
for decision the exemption, reduction, refund, retrospective collection and write-
off of debts; extension of late-payment interests, and fines on taxes, charges, fees
and other state budget revenues in accordance with law and issues arising in the
course of the implementation of treaties and bilateral or multilateral international
agreements on taxes, charges, fees and other state budget revenues;
d/ To promulgate regulations on procedures and professional processes for
collection and payment of taxes, charges, fees and other state budget revenues in
accordance with law; to guide the operations of declaration, calculation and
payment of taxes, charges, fees and other state budget revenues and other related
operations;
dd/ To inspect and control the state budget’s revenue sources and the
observance of the law on state budget collection and payment and handle
according to its competence acts of violating the law on taxes, charges, fees and
other state budget revenues in accordance with law;
e/ To assess the conformity of policies on taxes, charges, fees and other state
budget revenues with other current mechanisms and policies and the socio-
economic development in each period in order to make adjustments, amendments
and supplementations according to its competence or propose competent agencies
to promptly make adjustments, amendments and supplementations.
10. Regarding management of the budget fund, the state reserve fund and off-
budget state financial funds and management of the state treasury

 Vietnam Law & Legal Forum 7

 a/ To uniformly manage, direct and inspect, and take responsibility for, the
budget fund and the state treasury at the State Treasury; to manage the state reserve
fund and off-budget state financial funds in accordance with law;
b/ To organize the payment of state budget expenditures based on assigned
estimates and conditions specified in the law on the state budget;
c/ To carry out control, payment and account-finalization of expenditures
from the state budget through the State Treasury system in accordance with law;
d/ To guide the operations of collection, remittance and payment, and
reporting on, revenues and expenditures of the state budget fund; to handle
according to its competence acts of violating the law on management of the state
budget fund, the state reserve fund and off-budget state financial funds;
dd/ To promulgate or submit to competent authorities for promulgation the
financial management mechanism for off-budget state financial funds; to guide and
inspect the management and use of off-budget state financial funds.
11. Regarding management of national reserves
a/ To assume the prime responsibility for, and coordinate with related
ministries and agencies in, formulating and submitting to competent authorities a
list and a detailed list of national reserve goods, total national reserves and national
reserve plans;
b/ To promulgate national technical regulations, techno-economic norms and
quality management regulations for national reserve goods and national reserve
warehouse standards (except standards on national reserve warehouses of the
Ministry of Public Security and the Ministry of National Defense) in accordance
with law;
c/ To promulgate regulations on financial management, maximum purchase
prices, minimum selling prices, and levels of compensation for damage caused to
national reserve goods, and expenses for the purchase, sale, input, output,
preservation, insurance, and provision as relief and aid of national reserve goods in
accordance with law;
d/ Based on approved state budget estimates and national reserve plans, to
ensure financial sources for national reserve activities of ministries and sectors
managing national reserve goods; to appraise and summarize account-finalized
figures of budget expenditures for national reserves;
dd/ To carry out inspection related to national reserves in accordance with
law;

 Vietnam Law & Legal Forum 8

 e/ To organize the implementation of regulations on management,
preservation, input, output, purchase, sale and rotational exchange of national
reserve goods items in accordance with law.
12. Regarding the management of public assets
a/ To perform the unified state management of public assets in accordance
with law; to assume the prime responsibility for, and coordinate with related
ministries, sectors and localities in, formulating and submitting to competent
authorities for promulgation legal documents on management, use and exploitation
of public assets and compulsory purchase and requisition of assets in accordance
with law;
b/ To assume the prime responsibility for, formulate and promulgate
according to its competence or submit to the Government or the Prime Minister for
promulgation regulations on standards and norms on, the use of public assets as
assigned by the Government or the Prime Minister;
c/ To decide according to its competence or submit to the Prime Minister for
decision the establishment of ownership, assignment, shifting, sale and transfer of
public assets in accordance with law;
d/ To announce the list of goods and services subject to national-level
centralized procurement according to its competence and a roadmap decided by the
Prime Minister; to assume the prime responsibility for, and coordinate with related
agencies in, guiding the centralized procurement in accordance with law;
dd/ To give opinions on schemes and plans on exploitation of public assets for
joint venture or association purposes; and schemes on exploitation of public assets
in accordance with the law on management and use of public assets;
e/ To guide and inspect the implementation of the regulations on management
and use of public assets in accordance with law; to summarize the management and
use of public assets nationwide, and report thereon to the Government for
subsequent submission to the National Assembly; to carry out statistics, analysis,
forecasting and publicity of public assets.
13. Regarding bidding management
a/ To perform the unified state management of bidding in accordance with
law; to assume the prime responsibility for, formulate and submit to competent
authorities for promulgation legal documents on contractor selection and investor
selection in accordance with the bidding law and the law on PPP investment;
b/ To assume the prime responsibility for formulating and promulgating
according to its competence model documents on contractor selection and investor
selection in accordance with the bidding law and the law on PPP investment;

 Vietnam Law & Legal Forum 9

 c/ To organize the appraisal of the overall plans on contractor selection and
contractor selection plans subject to the Prime Minister’s decision and other cases
as assigned by the Prime Minister in accordance with law;
d/ To guide and inspect the implementation of regulations on selection of
contractors and investors in accordance with the bidding law and law on PPP
investment; annually, to summarize and report to the Prime Minister on the
performance of bidding work.
14. Regarding management of the State’s capital at enterprises; registration,
development and financial management of enterprises, collective economy and
business households
a/ To assume the prime responsibility for, and coordinate with ministries and
sectors in, formulating and submitting to the Government or the Prime Minister for
promulgation according to competence programs, plans, mechanisms and policies
on registration and development of enterprises, the collective economy and
business households; policies to improve the business investment environment; the
mechanism of corporate finance management for different types of enterprises of
all economic sectors; and financial mechanisms serving the implementation of
policies on development of the collective economy and cooperatives;
b/ To assume the prime responsibility for, and coordinate with ministries and
sectors in, formulating and submitting to the Government or the Prime Minister for
promulgation according to competence programs, plans, mechanisms and policies
on restructuring and renewal of state capital-invested enterprises; mechanisms for
management, investment, supervision, examination and inspection of state capital
investment in enterprises; transformation of public non-business units into
enterprises; mechanisms for management and use of the State’s support sources for
enterprises, collective economic organizations and cooperatives from the state
budget and other funding sources of the State;
c/ To assume the prime responsibility for, or participate in, investing capital
in and providing the State’s financial support to enterprises; to monitor, supervise,
examine and inspect the investment of the State’s capital in enterprises after such is
approved by competent authorities; to implement policies upon the arrangement
and restructuring of state capital in enterprises in accordance with law; to monitor
and summarize information on the restructuring and renewal of state capital-
invested enterprises nationwide;
d/ To supervise, examine and inspect the investment of state capital in
enterprises by capital owners’ representative agencies in accordance with law;
dd/ To coordinate with capital owners’ representative agencies in formulating
and implementing plans on supervision of enterprises; carrying out thematic

 Vietnam Law & Legal Forum 10

supervision or supervision at the request of the Government or the Prime
Minister; to recommend or propose solutions to capital owners’ representative
agencies on management and investment of state capital at enterprises;
e/ To coordinate with others in evaluating the production and business
efficiency of state capital-invested enterprises and representatives of state capital in
enterprises in accordance with law;
g/ To exercise the rights and perform the responsibilities of capital owners’
representative agencies with respect to the State’s capital amounts in enterprises in
accordance with law and as assigned by the Government or the Prime Minister;
h/ To synthesize, analyze, evaluate, and formulate and submit to the Prime
Minister for decision, plans on regulation of capital sources and funds of state-
invested enterprises under the Government’s regulations;
i/ To summarize and report to the Prime Minister and the Government on
production and business efficiency and performance of assigned tasks of providing
services and public-utility products; and the situation of restructuring, equitization
and divestment nationwide; to review financial statements of state-invested
enterprises when so requested by the Prime Minister;
k/ To manage the registration of enterprises, cooperative economic
organizations and business households; to guide the procedures for registration of
enterprises, cooperative economic organizations and business households; to
inspect, monitor and summarize the situation of enterprise registration, online
enterprise registration and post-registration issues nationwide;
l/ To verify and summarize annual reports on the management and investment
of state capital in enterprises nationwide by capital owners’ representative agencies
for submission to the Government for reporting to the National Assembly;
m/ To provide support for innovation and startup activities; to renew the
growth model on the basis of scientific and technological development under the
Ministry’s state management in accordance with law.
15. Regarding management of the Government’s loan borrowing and debt
payment, public debts, the country’s foreign debts and international aid sources for
Vietnam and Vietnam’s loans and aid sources for foreign countries
a/ To formulate and submit to competent authorities for promulgation or
promulgate according to its competence policies and regimes on management of
the Government’s loan borrowing and debt payment and public debts in
accordance with law;
b/ To assume the prime responsibility for formulating and monitoring public
debt safety indicators, 5-year loan borrowing and public debt payment plans, 3-

 Vietnam Law & Legal Forum 11

year debt management programs and the Government’s annual loan borrowing and
public debt payment plans, loan limits for on-lending and annual limits of
government guarantee and submit them to competent authorities for approval;
c/ To assist the Government in performing the unified state management of
loan borrowing and public debt payment; and the state financial management of
the Government’s foreign loans;
d/ To organize the mobilization of capital for the state budget and for
development investment through the issuance of debt instruments, the signing of
domestic and foreign loan agreements and from other lawful financial sources;
dd/ To act as the Government’s representative of the “Lender” for amounts
lent to foreign governments; to act as the representative of the “Borrower” of the
Government and the State of Vietnam; to organize the negotiation and signing of
framework agreements, treaties and foreign loan agreements of the Government as
assigned by the Government or the Prime Minister; to assume the prime
responsibility for submitting to competent authorities for approval proposals on
projects funded by ODA loans or concessional loans of foreign donors; to appraise
according to its competence the investment policy and prefeasibility study reports
for programs and projects using ODA loans or foreign concessional loans; to
assume the prime responsibility for determining the domestic financial mechanism
for foreign loan projects; to organize on-lending of loans for programs and projects
approved by competent agencies; to organize the disbursement and
acknowledgement of foreign debts in the capacity as the “Borrower”, and guide,
inspect and supervise the disbursement and financial management of the
Government’s foreign loans and aid sources;
e/ To assume the prime responsibility for formulating plans on allocation of
the state budget funds for payment of the Government’s foreign debts; to formulate
plans on disbursement of ODA loans and concessional loans and annual plans on
counterpart funds from the budget for ODA-funded programs and projects;
g/ To grant guarantees and manage government guarantees for enterprises and
policy banks in accordance with law;
h/ To guide and organize the payment of debts using state budget funds for
the Government’s loans, and fulfill the guarantor’s obligations; to manage the Debt
Payment Accumulation Fund;
i/ To perform the unified state management of foreign aid sources for
Vietnam and the Vietnamese Government’s loans and aid for foreign countries;

 Vietnam Law & Legal Forum 12

 k/ To act as the focal point for summarizing and disclosing information on
debt indicators and public debt figures in accordance with the law on public debt
management.
16. Regarding accounting and auditing
a/ To formulate and submit to competent authorities for promulgation policies
on development of accounting and auditing activities, regulations on accounting
and auditing (including independent audit and internal audit), and regulations on
reporting and finance-budget publicity;
b/ To promulgate regulations on principles, standards, professional methods,
and accounting and auditing operations;
c/ To submit to competent authorities for promulgation criteria and conditions
for accountants, chief accountants, auditors, and certified public accountants; and
criteria and conditions for establishment of accounting and independent audit
service enterprises;
d/ To grant, re-grant, modify and revoke certificates of eligibility for
providing accounting and independent audit services; and certificates of
registration for accounting and independent audit practice; to suspend the practice
or provision of accounting and independent audit services in accordance with law;
dd/ To guide, inspect and supervise the implementation of the regulations on
accounting, auditing, and accounting and independent audit service activities;
and accounting and independent auditing practice, and handle violations in the
implementation of the regulations on accounting, auditing, and accounting and
independent auditing practice.
17. Regarding state management of securities and the securities market
a/ To formulate and submit to competent authorities for promulgation legal
documents on securities and the securities market;
b/ To formulate and submit to the Prime Minister for decision the
establishment, dissolution, operation model, form of ownership, functions, rights
and obligations of the Vietnam Stock Exchange and the Vietnam Securities
Depository and Clearing Corporation, and the establishment of subsidiaries of the
Vietnam Stock Exchange;
c/ To grant, re-grant, extend, modify and revoke licenses, securities practice
certificates and certificates related to securities and securities market activities; to
approve changes, suspensions and cancellations related to securities and securities
market activities in accordance with law;

 Vietnam Law & Legal Forum 13

 d/ To manage, supervise and inspect securities and securities market
activities; to manage securities and securities market service activities in
accordance with law;
dd/ To assume the prime responsibility for, and coordinate with related
agencies in, applying measures to ensure security and safety of the securities
market.
18. Regarding the state management of insurance business
a/ To formulate and submit to the Government for promulgation legal
documents on insurance business; to formulate policies to develop the insurance
market;
b/ To grant, re-grant, modify, supplement and revoke establishment and
operation licenses, suspend certain operations of insurance enterprises, reinsurance
enterprises, Vietnam-based foreign branches, insurance brokerage enterprises and
mutual insurance organizations; to grant, re-grant, modify, supplement, extend and
revoke licenses for establishment of foreign representative offices in Vietnam, and
terminate the operation of foreign representative offices in Vietnam;
c/ To inspect and supervise the operation of insurance enterprises; reinsurance
enterprises; branches and foreign representative offices in Vietnam; mutual
organizations providing micro-insurance; and insurance brokerage enterprises in
accordance with law;
d/ To assume the prime responsibility for, and coordinate with related
agencies in, applying necessary measures to ensure the lawful operation of the
insurance market;
dd/ To manage the use of the Fund for Protection of the Insured;
e/ To organize the provision of information and forecasting of the
development of the insurance market.
19. Regarding financial management of financial institutions and financial
services
a/ To formulate mechanisms and policies on the issuance of government
bonds, municipal bonds, government-guaranteed bonds and corporate bonds in
accordance with law; to formulate mechanisms and policies and grant, re-grant,
modify, extend and revoke eligibility certificates for credit rating activities,
supplementary pension insurance and financial institutions operating on the
financial market under the Ministry’s state management in accordance with law;
b/ To formulate and submit to competent authorities for promulgation or
promulgate and guide, mechanisms, policies and organizational models for

 Vietnam Law & Legal Forum 14

business activities of lottery, betting, casino and video games with prizes in
accordance with law;
c/ To carry out examination and handle violations in the implementation of
the regulations on business activities of lottery, betting, casino and video games
with prizes; to grant, re-grant, modify, extend and revoke eligibility certificates for
business activities of lottery, betting, casino and video games with prizes in
accordance with current law;
d/ To formulate and submit to competent authorities for promulgation the
State’s policy credit mechanisms and financial mechanisms for policy banks in
accordance with law; to formulate and submit to the Prime Minister for approval
the State’s annual development investment credit capital plans for policy banks;
dd/ To promulgate or submit to competent authorities for promulgation
financial mechanisms applicable to the State Bank of Vietnam, credit institutions,
the Deposit Insurance of Vietnam, the Vietnam Asset Management Company and
other financial institutions (if any) in accordance with law;
e/ To inspect bank note printing and coin minting and destruction operations
and inspect the management of state foreign exchange reserves by the State Bank
of Vietnam in accordance with the Government’s regulations;
g/ To guide, inspect and supervise organizations providing financial services,
tax consultancy and other services under the Ministry’s state management in
accordance with law.
20. Regarding customs
a/ To formulate and submit to the Government or the Prime Minister for
promulgation specific regulations on customs procedures, customs inspection and
supervision; prevention and combat of cross-border goods smuggling and illegal
transportation;
b/ To promulgate according to its competence documents guiding and
directing customs inspection and supervision operations; to organize the
implementation of the law on taxes and other state budget revenues for exported
and imported goods; smuggling prevention and combat and collection of customs
statistics in accordance with law;
c/ To organize, guide, direct, inspect, and take responsibility for, the
performance of tasks of the customs sector in accordance with the Customs
Law and relevant regulations; to carry out examination and handle according to its
competence acts of violating the customs law.
21. Regarding price

 Vietnam Law & Legal Forum 15

 a/ To formulate and submit to the Government or the Prime Minister for
approval, and organize the implementation of, orientations for price administration,
and make periodical or unscheduled reports on price administration;
b/ To formulate and submit to the Government for promulgation regulations
on decentralization of authority for price management and mechanisms for
management of prices of goods and services subject to pricing by the State; to
assume the prime responsibility for, and coordinate with ministries, sectors and
provincial-level People’s Committees in, examining price constituents for goods
and services falling under their competence in accordance with law;
c/ To coordinate with related ministries and agencies in formulating and
submitting to competent authorities for decision prices of goods and services on
the list of goods and services subject to pricing by the State; to provide the general
pricing method for goods and services subject to pricing by the State when
applying the general pricing method with specific contents on the basis of
proposals of ministries, sectors and provincial-level People’s Committees;
To assume the prime responsibility for, and coordinate with related ministries
and agencies in, submitting to competent authorities for consideration and
modification the list of goods and services subject to pricing by the State on the
basis of proposals of ministries, ministerial-level agencies and provincial-level
People’s Committees.
d/ To assume the prime responsibility for, and coordinate with related
agencies in, formulating, and submitting to competent authorities the modifications
to, the list of goods and services eligible for price stabilization and the list of goods
and services subject to price declaration;
dd/ To assume the prime responsibility for, and coordinate with related
agencies in, formulating and submitting to competent authorities for decision
policies, measures and time limit for price stabilization under regulations;
e/ To price goods and services subject to pricing under the law on price and
falling within the Ministry’s competence; goods and services under management
by multiple sectors and affecting the state budget and on the list of goods and
services subject to pricing by the State and falling within the Ministry’s
competence in accordance with law on the basis of proposals of agencies assigned
to appraise price plans (line ministries and ministerial-level agencies);
g/ To organize price negotiations for goods and services under the Ministry’s
management under regulations;
h/ To perform the state management of valuation in accordance with law; to
promulgate Vietnam valuation standards;

 Vietnam Law & Legal Forum 16

 i/ To grant, re-grant and revoke certificates of eligibility for commercially
providing valuation services; to suspend the commercial provision of valuation
services;
k/ To assume the prime responsibility for, and coordinate with related
ministries and agencies in, promulgating the list of goods and services subject to
price declaration; and methods of implementing and receiving price declarations;
l/ To inspect the observance of law and handle violations of the law on price
management and valuation under regulations;
m/ To organize the State’s valuation activities in accordance with law.
22. Regarding social insurance
a/ To organize the implementation of social insurance and health insurance
regimes and policies; to organize the collection of unemployment insurance
premiums and payment of unemployment insurance allowances;
b/ To manage and use off-budget state financial funds: social insurance,
unemployment insurance and health insurance funds;
c/ To inspect the implementation of regulations on social insurance; the
collection of unemployment insurance and health insurance premiums and
payment of unemployment insurance and health insurance allowances for agencies,
units, employers and individuals; to inspect the use of the health insurance fund for
health insurance-covered medical examination and treatment establishments that
sign contracts with social security agencies in accordance with law;
d/ To carry out specialized inspection of social insurance, unemployment
insurance and health insurance premium payment in accordance with law;
dd/ To join competent state agencies in formulating, supplementing and
improving social insurance, unemployment insurance and health insurance policies
and laws.
23. Regarding statistics
a/ To formulate, and organize the implementation of, strategies, plans and
policies on development of statistical activities; to coordinate and organize
statistical activities and provide statistical information in accordance with law;
b/ To establish and uniformly manage national, and provincial- and district-
level statistical information systems; to coordinate the connection and provision of
data and information between state statistical information systems; to formulate
standards and assess the quality of statistical information in state statistical
activities;

 Vietnam Law & Legal Forum 17

 c/ To establish a system of statistical indicators, statistical reporting regimes,
statistical survey programs and statistical classification in accordance with law.
24. Regarding international cooperation
a/ To carry out international integration and cooperation in the fields under
the Ministry’s state management in accordance with law;
b/ To formulate plans, enter into negotiations and implement economic and
financial contents of treaties and international agreements under decisions of the
President, the Government and the Prime Minister;
c/ To organize the conclusion and implementation of treaties and international
agreements in the fields under the Ministry’s management under decisions of the
President, the Government and the Prime Minister;
d/ To act as the representative of the Vietnamese Government at bilateral and
multilateral international economic and financial forums as assigned by the
Government.
25. To perform the state management of public services in the fields under the
Ministry’s management in accordance with law; to manage and direct activities of
public non-business organizations under the Ministry; to manage the Investment
Support Fund in accordance with law.
26. To manage and organize the implementation of plans on scientific
research, application of information technology, digital transformation, innovation
and statistics under the Ministry’s management in accordance with law; to
establish, manage, and organize nationwide centralized and uniform operation and
ensure the safety and security of, national information systems and databases under
the Ministry’s management in accordance with law.
27. To perform the state management of activities of associations in the fields
under the Ministry’s management in accordance with law.
28. To carry out inspection and examination and settle complaints and
denunciations; to prevent and combat corruption; practice thrift and combat waste
in the management and use of allocated assets and funds; to inspect and monitor
the implementation of law in accordance with regulations; to handle according to
its competence or propose competent authorities to handle in accordance with law
acts of violation under the Ministry’s state management.
29. Regarding administrative reform
a/ To formulate and submit to the Government for promulgation a program on
renewal of the public finance management mechanism serving the state
administrative reform program in each period;

 Vietnam Law & Legal Forum 18

 b/ To decide on, and direct the implementation of, the Ministry’s
administrative reform program based on objectives and contents of the state
administrative reform program approved by the Prime Minister.
30. To manage the organizational apparatus and payroll of civil servants; job
positions, structure of civil servants by rank, structure of public employees by
professional title and number of people working in public non-business units; to
decide on rotation, transfer, appointment, relief from duty, dismissal,
commendation, and disciplining; regimes and policies; and training and further
training of cadres, civil servants and public employees under the Ministry’s
management in accordance with law.
31. To manage and organize the implementation of issues related to finance,
public assets, development investment and construction under the Ministry’s
management in accordance with law.
32. To perform other tasks and exercise other powers as assigned by the
Government or the Prime Minister and in accordance with law.
Article 3. Organizational structure
1. The Department for National Economy Issues.
2. The State Budget Department.
3. The Investment Department.
4. The Department of Finance and Economy of Sectors.
5. The Department of National Defense, Security and Special Affairs
(Department I).
6. The Department of Local and Territorial Economy.
7. The Department of Planning Management.
8. The Department of Financial Institutions.
9. The Organization and Personnel Department.
10. The Legal Affairs Department.
11. The Inspectorate.
12. The Office.
13. The Department of Debt Management and External Economic Relations.
14. The Department of Public Asset Management.
15. The Department of Public Procurement.
16. The Tax Policies, Fees and Charges Supervisory Authority.

 Vietnam Law & Legal Forum 19

 17. The Insurance Supervisory Authority.
18. The Department of Accounting and Auditing Regulations.
19. The Department of Price Management.
20. The Department for State Enterprise Development.
21. The Department for Sole Proprietorship and Collective Economy
Development.
22. The Foreign Investment Agency.
23. The Planning-Finance Department.
24. The Department of Information Technology and Digital Transformation.
25. The Taxation Department.
26. The Customs Department.
27. The State Reserves Department.
28. The Statistics Department.
29. The State Treasury.
30. The State Securities Commission.
31. The Institute for Economic-Financial Strategy and Policy.
32. The Finance-Investment Newspaper.
33. The Economics-Finance Journal.
34. The Academy of Policy and Development.
35. The Vietnam Social Security.
The organizations specified in Clauses 1 thru 30 of this Article are
administrative organizations assisting the Minister in performing the state
management function; the organizations specified in Clauses 31 thru 34 of this
Article are public non-business units; the organization specified in Clause 35 of
this Article is a particular unit under the Ministry of Finance.
The Department of National Economy Issues has 3 divisions; the State
Budget Department has 4 divisions; the Investment Department has 4 divisions; the
Department of Finance and Economics of Sectors has 4 divisions; the Department
of Local and Territorial Economy has 4 divisions; the Department of Financial
Institutions has 4 divisions; the Organization and Personnel Department has 6
divisions; and the Legal Affairs Department has 4 divisions.

 Vietnam Law & Legal Forum 20

 The Taxation Department is organized and operates at 3 levels: Taxation
Department (consisting of 12 units); 20 Regional Tax Branches; and 350 inter-
district tax teams.
The Customs Department is organized and operates at 3 levels: Customs
Department (consisting of 12 units); 20 Regional Customs Branches; and 165
border-gate/outside-border-gate customs offices.
The State Reserves Department is organized and operates at 2 levels: State
Reserves Department (consisting of 7 units); and 15 Regional State Reserves
Branches (with no more than 171 warehouse points in total).
The Statistics Department is organized and operates at 3 levels: Statistics
Department (consisting of 14 units); 63 Statistics Branches; and 480 inter-district
statistical teams.
The State Treasury is organized and operates at 2 levels: State Treasury
(consisting of 10 units); and 20 Regional State Treasury Offices (with no more
than 350 transaction bureaus in total).
The Vietnam Social Security is organized and operates at 3 levels: Vietnam
Social Security (consisting of 14 units); 35 Regional Social Insurance
Agencies; and 350 inter-district social insurance offices.
The Taxation Department, the Customs Department, the State Reserves
Department, the Statistics Department, the State Treasury, the State Securities
Commission, and the Vietnam Social Security have their own seals bearing the
national emblem.
The Minister of Finance shall define the functions, tasks, powers and
organizational structures of the organizations and units under the Ministry; specify
the number of advisory and assisting units of Branches and equivalent units under
Departments and equivalent units under the Ministry; and submit to the Prime
Minister for promulgation a list of other public non-business units under the
Ministry.
Article 4. Transitional provisions
The Minister of Finance shall make arrangements for the Taxation
Department, the Customs Department, the State Reserves Department, the
Statistics Department, the State Treasury, the State Securities Commission and the
Vietnam Social Security to operate after the new model within 3 months from the
effective date of this Decree.
Article 5. Effect
1. This Decree takes effect on March 1, 2025.

 Vietnam Law & Legal Forum 21

 2. To annul:
a/ The Government’s Decree No. 14/2023/ND-CP of April 20, 2023, defining
the functions, tasks, powers and organizational structure of the Ministry of
Finance;
b/ The Government’s Decree No. 89/2022/ND-CP of October 28, 2022,
defining the functions, tasks, powers and organizational structure of the Ministry of
Planning and Investment;
c/ The Government’s Decree No. 89/2020/ND-CP of August 4, 2020,
defining the functions, tasks, powers and organizational structure of the Vietnam
Social Security; and,
d/ The Government’s Decree No. 36/2015/ND-CP of April 17, 2015,
specifying criteria for establishment of Customs Departments of provinces, inter-
provincial areas and centrally run cities; and organization, tasks and operation of
customs agencies at all levels.
Article 6. Implementation responsibility
1. Ministers, heads of ministerial-level agencies, heads of government-
attached agencies and chairpersons of provincial-level People’s Committees shall
implement this Decree.
2. The Minister of Finance shall rearrange 63 Statistics Branches under the
Statistics Department to organize their operation by region.
The Minister of Finance shall summarize and report information on
difficulties or problems arising in the course of implementation of this Decree to
the Government for amending and supplementing relevant provisions of this
Decree as appropriate.-

On behalf of the Government

For the Prime Minister
Deputy Prime Minister
HO DUC PHOC

 Vietnam Law & Legal Forum 22