Deputy Prime Minister Ho Duc Phoc concludes the meeting related to the draft Decree on the organizational structure of the Ministry of Finance on 07/02. Photo: VGP
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According to the Government’s plan for restructuring its apparatus, the Ministry of Finance will merge with the Ministry of Planning and Investment and absorb the Vietnam Social Security. In addition, some functions and tasks of the State Capital Management Committee and the National Financial Supervision will be transferred to the Ministry of Finance. The new agency will retain the name Ministry of Finance.
At the meeting related to the draft Decree on the organizational structure of the Ministry of Finance on 07/02, Vice Minister of Finance Nguyen Duc Chi said that after the merger and absorption, the number of units will decrease by about 3,600, equivalent to 37.7% compared to the current number of units and organizations under the Ministry of Finance, Planning and Investment, and Vietnam Social Security.
Specifically, this includes a reduction of 2 units at the ministerial and governmental agency level; 6 units at the General Department level; 98 units at the Department and Bureau level under the Ministry; 336 units at the Department and Bureau level under the General Department; and over 3,100 units from the room, sub-bureau, and equivalent level under the Department and Bureau level within the Ministry and below…
As per the merger plan reported by the Ministry of Finance, the number of administrative organizations with overlapping functions and missions will be reduced from 10 to 5. Organizations with connected or interlinked functions will be merged from 20 to 8. Meanwhile, independent or specialized organizations will remain unchanged (12 units).
The General Departments and equivalent organizations under the Ministry (General Department of Taxation, Customs, Statistics, State Reserves, Treasury, and Securities) will be transformed into administrative organizations equivalent to Departments under the Ministry. The Vietnam Social Security will be absorbed into the Ministry of Finance to form a single unit.
According to the leadership of the Ministry of Finance, the restructuring will follow the principle of “one organization performing multiple tasks” and “one task assigned to one unit taking the main responsibility.”
At the meeting, Minister of Planning and Investment Nguyen Chi Dung stated that the two ministries had coordinated and agreed on the plan. “There are no more differing opinions regarding the draft Decree”, he said.
Minister Dung emphasized that streamlining the organizational structure of the administrative apparatus is a significant and crucial issue, especially as Vietnam prepares for a new era. Therefore, the administrative apparatus must be robust and efficient to achieve its goals.
He noted that the new organizational structure of the Ministry of Finance should inherit the functions and tasks of the two ministries, ensuring no overlap or gaps in responsibilities, and should operate smoothly and effectively.
During the meeting, participants emphasized the importance of ensuring transparency and fairness in personnel arrangement, assigning the right people to the right tasks. The government should also work on the mindset of civil servants, public employees, and laborers. Additionally, the necessary physical conditions should be guaranteed to ensure the immediate and smooth operation of the new Ministry of Finance.
Concluding the meeting, Deputy Prime Minister Ho Duc Phoc requested the two ministries and related agencies to continue reviewing and ensuring that no functions, tasks, or scopes of work are overlooked, allowing the new apparatus to operate efficiently and smoothly. He emphasized that “once the restructuring is completed, the work must proceed without interruption” as the new Ministry of Finance is the “core” and the “lifeblood” of the economy.
– 20:08 07/02/2025
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