On May 23 afternoon, Deputy Prime Minister Ho Duc Phoc chaired a meeting with the Ministry of Finance and the State Bank of Vietnam (SBV) to review regulations related to decentralization and delegation of authority in conjunction with the two-tier local government model in the fields of finance and banking.
Deputy Prime Minister Ho Duc Phoc speaking at the meeting – Photo: VGP
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## 313 tasks for decentralization and delegation of authority in the financial sector
The Ministry of Finance is proposing 313 contents, tasks, and authorities for decentralization and delegation, which are stipulated in 75 legal documents. Among these, 58 contents have been implemented through laws and resolutions passed by the National Assembly at the 8th session, covering areas such as state budget, investment, management of public assets, bidding, securities, national reserves, enterprise management, collective economics, and business households, as well as special mechanisms for local development.
Currently, there are 255 contents that need to be further decentralized and delegated. Of these, 95 contents will be addressed in the draft laws and resolutions to be submitted to the National Assembly at the 9th session; the remaining 160 contents will continue to be implemented in the coming time, including those related to the two-tier model and the definition of authorities.
Regarding the authorities of each level, the Ministry of Finance said that there are 21 contents under the authority of the National Assembly and the Standing Committee of the National Assembly to be assigned to the Government, the Prime Minister, and local governments. There are 42 contents that the Government and the Prime Minister delegate to the Minister of Finance or local governments.
Notably, 73 contents are transferred from the district level to the commune level, including 52 contents transferred from the District People’s Committee to the Commune People’s Committee, and 21 contents transferred from the District People’s Committee Chairman to the Commune People’s Committee Chairman. In addition, some contents are transferred from the district level to the provincial level.
The Ministry of Finance is urgently completing decrees to concretize the direction of decentralization and delegation of authority and will submit decrees guiding the laws that are waiting for the National Assembly’s approval.
Speaking at the meeting, Deputy Prime Minister Ho Duc Phoc requested clarification on the determination of authorities related to the definition of provincial and communal statistical indicators, authority to determine import and export taxes, and division of responsibilities for budget collection and tax management in the case of not organizing the district level. He emphasized:
> “Decentralization means assigning tasks, while delegation means granting authority. Decentralization must go hand in hand with delegation, and they must be very clear and specific so that localities can implement them.”
The Deputy Prime Minister requested the Ministry of Finance to continue reviewing and compiling a list of tasks to have a full, comprehensive, and scientific basis for appropriate and effective decentralization and delegation of authority. Especially, it is necessary to clarify which authorities will be kept at each level, which authorities will be delegated to the communal level, which authorities will be “pulled up” to the provincial level, and the reasons for retaining certain authorities at the central level.
## SBV proposed to remove district-level confirmation and allow commune-level processing of rural credit dossiers
Regarding the SBV, according to the report at the meeting, this agency does not have organizations under the direct control of district or communal-level governments. Therefore, it does not implement decentralization or delegation of authority according to the two-tier model. However, the SBV has reviewed and proposed solutions for 16 affected documents, including one decree and four circulars that need to be amended immediately.
Especially, the SBV proposed to amend Decree 55/2015 on credit for agricultural and rural development towards removing the requirement for district-level confirmation for affected customers and instead assigning this task to the commune-level People’s Committee.
Four circulars directly related to the two-tier model are being amended and supplemented, ensuring completion before May 31, 2025. The SBV also requested the Government to direct ministries and sectors to soon provide feedback on the draft amendment to Decree 55 to ensure its issuance as directed.
Concluding the meeting, Deputy Prime Minister Ho Duc Phoc stated that the SBV’s organizational system has been operating effectively without any obstacles due to the absence of district and communal levels. Some issues have been addressed in the amended Law on Credit Institutions.
The Deputy Prime Minister suggested that the SBV continue studying the division of authority between the Government, the Prime Minister, and the Governor of the SBV to make appropriate proposals in the near future.
– 21:27 05/23/2025
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