Nghe An: Finance sector overcomes difficulties, does a good job of advising on revenue and expenditure management

Do good consulting work

Following Uncle Ho's teachings "Produce a lot, spend little", "Must be skillful in calculating money spending reasonably, that is an important art, that art is not easy...", Nghe An Finance sector has "chosen rice according to fish sauce", advised on arranging reasonable budget sources to balance all spending needs in the area. Quietly but extremely important in performing all tasks, making extremely important contributions to the cause of socio-economic development, ensuring national defense and security, and social security.

From its functions and tasks, tax policies, expenditure tasks, payroll management, to production development... all are put on the scale to make it most reasonable, practical and suitable.

Vinh City expands towards the sea. Photo: Le Thang

Most notably, the sector has effectively advised the province on policies on a number of mechanisms and specific development features of Nghe An province that the National Assembly has just approved, demonstrating the excellent advisory role of the Nghe An Finance sector.

In this special resolution, the main policies are on finance. Specifically: Regarding the management of state finance and budget, Nghe An province is allowed to borrow through the issuance of local government bonds, borrowing from domestic financial institutions, other domestic organizations and from foreign loans of the Government to the province with the total outstanding loan balance not exceeding 40% of the provincial budget revenue according to decentralization. The total amount of borrowing and annual provincial budget deficit are decided by the National Assembly according to the provisions of the State Budget Law.

Comrade Nguyen Xuan Hai - Former Director of the Department of Finance presented a bouquet of flowers to congratulate Comrade Trinh Thanh Hai on being appointed Director of the Department of Finance of Nghe An. Photo: TC

Every year, the central budget supplements the budget of Nghe An province with a target of not exceeding 70% of the increase in revenue from export and import activities of exported and imported goods compared to the estimate assigned by the Prime Minister (excluding value added tax on imported goods), but not exceeding the total increase in revenue from export and import activities compared to the revenue realized in the previous year and the central budget does not have a deficit to implement local infrastructure investment projects... With these policies, Nghe An will have the conditions to develop in the near future.

In 2022, the Finance sector advised the Provincial People's Committee to seriously implement the Central Government's directive documents such as Resolution No. 01/NQ-CP dated January 8, 2022 of the Government on key tasks and solutions to implement the socio-economic development plan and the State budget estimate for 2022; Resolution No. 02/NQ-CP dated January 10, 2022 of the Government on key tasks and solutions to improve the business environment and enhance national competitiveness in 2022; Resolution No. 11/NQ-CP dated January 30, 2022 of the Government on the Socio-economic Recovery and Development Program and the implementation of Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the Program; Directive No. 02/2021 of the Ministry of Finance on strengthening management, operation and price stabilization during the Lunar New Year 2022.

Department of Finance staff handle daily work. Photo: Tran Chau

The sector has advised the Provincial People's Committee to issue documents directing the management and administration of finance - budget, and public asset prices such as: Resolution on the percentage of land use fee revenue from projects with land use fee collection for the provincial budget to create capital for compensation and support for site clearance, regulations on decentralization of state budget revenue, local budget expenditure tasks, advising the Provincial Party Committee, People's Council, and Provincial People's Committee to issue mechanisms and policies to remove difficulties for people and businesses, remove bottlenecks to create conditions for economic and social development, create a stable environment, and mobilize maximum resources to increase state budget revenue.

The sector also effectively advises on key tasks and solutions to implement the 2022 socio-economic development plan and the 2022 state budget estimate, and advises the Provincial People's Committee to effectively and actively manage and operate the budget and finance in 2022.

Thanks to that, Nghe An's budget revenue in 2022 reached VND 20,370 billion, an increase of 35.7% compared to the estimate (exceeding VND 5,353 billion). Of which: Domestic revenue: VND 19,000 billion, an increase of 38.7% compared to the estimate and an increase of 3.6% compared to the implementation in 2021. Revenue from import-export activities: VND 1,350 billion, equal to 103.8% of the estimate and equal to 81.7% compared to 2021.

Estimated local budget expenditure for the whole year is 32,562 billion VND, reaching 104.8%. Of which: Development investment expenditure is 10,739 billion VND, reaching 110.8% of the estimate, for the budget to ensure social security goals. The work of synthesizing and settling price and public asset management, price management, and corporate financial management is well implemented.

Cua Hoi Bridge connects Nghe An and Ha Tinh. Photo: PV

Up to now, the equitization of Nghe An Newspaper Printing Company Limited and Nghe An Tea Investment and Development Company Limited has been completed, and the conversion to Nghe An Coffee - Rubber Company Limited is continuing.

The sector has directed departments and units to balance capital sources and urge disbursement of projects assigned with public investment plans to ensure progress. Directed the implementation of state asset valuation work to basically meet the requirements of agencies and units in the province; to date, 35 dossiers have been appraised, with a total appraisal value of VND 247,799 billion, saving the budget more than VND 4.5 billion.

Leading in administrative reform

In close compliance with the guiding documents of the Provincial People's Committee, the Department of Home Affairs and the Department of Finance have led and directed the good implementation of the goals and tasks issued in Decision No. 16/QD-STC dated January 24, 2022 of the Director of the Department of Finance on promulgating the administrative reform plan for 2022.

Continue to lead and direct the effective implementation of the electronic one-stop shop software. The quality of handling records and administrative procedures for people and organizations through the reception and result return departments at all levels has been improved, most of the records are handled correctly and promptly for people and businesses.

The Department reviewed the set of Administrative Procedures under its jurisdiction, including 14 provincial-level procedures and 8 district-level procedures. Developed a set of internal procedures and electronic procedures issued in Decision 3641/QD-UBND dated October 19, 2020 of the Provincial People's Committee. During the year, 2,187 records were received and processed via level 4 public services (100% of records were correct and before the deadline).

Deploy a review of the system of documents and amend and supplement a number of internal regulations. Lead and direct the effective exploitation and application of information technology in the management and operation of the agency, including the Budget Management software 8.0; the TABMIS system, the system for assigning unit codes related to the State budget; the VNPT ioffice document management and operation system, public asset management software, price management and construction investment management.

Currently, all incoming documents are processed through software, applying digital signatures in document issuance. During the year, effectively implementing document management and operation on the VNPT-iOffice system with integrated electronic digital signatures helps to send and receive documents quickly and promptly.

Following the direction of the Government and the Ministry of Finance, in 2023, Nghe An Finance sector will coordinate with ministries, agencies and localities to proactively, closely, flexibly and appropriately operate fiscal policies; Focus on effectively implementing issued policies, removing difficulties for businesses, controlling inflation, promoting socio-economic recovery and development.

In addition, focus on doing a good job of managing state budget revenue, ensuring correct, sufficient and timely collection of revenues into the state budget; step up the fight against revenue loss, transfer pricing and tax evasion. Effectively manage new revenue sources arising from e-commerce transactions; resolutely handle and urge tax debt collection, reduce the rate of tax arrears; strive to increase state budget revenue and provide accurate advice to localities on budget revenue and expenditure.

In 2022, Nghe An province's budget revenue will reach nearly 21,000 billion VND. Photo: Chau Lan