Promoting Digital Transformation and Comprehensive Modernization of the Finance Industry

In his opening speech, Mr. Nguyen Dai Tri - Director of the Department of Informatics and Financial Statistics, Ministry of Finance, said that on June 3, 2020, the Prime Minister signed and issued Decision No. 749/QD-TTg approving the national digital transformation program to 2025, with a vision to 2030 and Decision No. 942/QD-TTg dated June 15, 2021 approving the e-Government Development Strategy towards Digital Government for the period 2021-2025, with a vision to 2030. Accordingly, by 2030, Vietnam will become a digital, stable and prosperous country, pioneering in testing new technologies and models; fundamentally and comprehensively innovating the management and operation activities of the Government, production and business activities of enterprises, the way people live and work, and developing a safe, humane and widespread digital environment.

As the “lifeblood” of the economy, digital transformation in the financial sector will be one of the key factors for digital transformation in general and promoting digital transformation in other sectors in particular. This is once again clearly affirmed in Decision No. 368/QD-TTg dated March 21, 2022 of the Prime Minister approving the financial strategy until 2030.

Mr. Tri said that this decision of the Prime Minister has opened the door for a series of strategies and plans in the future, specifically Decision No. 1484/QD-BTC dated July 27, 2022 on promulgating the Digital Transformation Plan of the Ministry of Finance to 2025, with a vision to 2030, accordingly, the goal in the period of 2021 - 2025 is to build e-finance, digital finance based on data and open data, a digital finance ecosystem that ensures efficiency and comprehensive information security. By 2030, strive to establish a completely digital financial system and smart finance with 4 main focus areas: Strict tax management, avoiding tax fraud and providing the best utilities for people and businesses; Smart Customs; 3 "no" digital treasury (no customer transactions, no cash, no paperwork); Strong digital transformation of the stock market.

Mr. Nguyen Dai Tri emphasized:“The Conference - Exhibition on digital finance in State Budget Management (Vietnam Digital Finance) in 2022 will continue to promote its role as a bridge between senior leaders in the Finance industry and information technology solution providers to promote the application of modern information technology in the Finance industry in the era of the 4.0 industrial revolution.

In recent times, the entire Finance sector has actively implemented tasks, proactively participated in the Fourth Industrial Revolution, and strongly implemented digital transformation in various fields, thereby achieving many positive results, bringing efficiency to the whole society, contributing to shortening the time for tax and customs procedures, reducing paperwork, time and costs for businesses and people.

Dr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission, spoke at the workshop.

Speaking at the VDF-2022 Workshop - Exhibition, Dr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission, acknowledged and highly appreciated the results achieved in the digital transformation of the Finance sector. According to Dr. Nguyen Duc Hien, up to now, the implementation of digital transformation and proactive participation in the 4th Industrial Revolution of the Finance sector has achieved many outstanding results. The Ministry of Finance is also one of the first ministries to issue documents guiding research and implementation of digital transformation.

The workshop attracted a large number of domestic and foreign experts to attend with the aim of: Making good use of the opportunities of the Industrial Revolution 4.0, thereby establishing a modern, public, transparent Digital Finance platform, forming a digital financial ecosystem that comprehensively meets the needs of public financial transactions, the needs of exploiting and using digital information of the Government, people, businesses and organizations. At the same time, the discussion content today will contribute to proposing new perspectives, key tasks, and breakthrough solutions to contribute to building a public, transparent, safe and effective digital financial ecosystem.

Within the framework of the VDF-2022 Conference - Exhibition,Speakers, researchers, the business community and domestic and foreign IT solution providers focused on exchanging and discussing two main topics: Reforming and modernizing state budget management and Digital transformation in the tax and customs sector with people and businesses at the center. Opinions at the workshop were unanimous that the Finance sector will continue to maintain its pioneering role in participating in the Fourth Industrial Revolution, contributing to promoting national digital transformation towards digital government, digital economy and digital society.

Delegates and experts visit the exhibition booths. Photo: Internet

In addition, the VDF-2022 Exhibition also has booths of domestic and foreign enterprises introducing the latest achievements in digital transformation, especially digital transformation in the financial sector.

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