General Secretary To Lam speaks. (Photo: Thong Nhat/VNA)
On the morning of August 8, in Hanoi, the Ministry of Finance solemnly held the Ceremony to celebrate the 80th anniversary of the traditional day of the financial sector (August 28, 1945 - August 28, 2025) and received the First Class Independence Medal.
This is an opportunity to pay tribute to previous generations of cadres and honor the great contributions of the Finance sector to the revolutionary cause, construction and development of the country.
General Secretary To Lam attended and spoke at the ceremony.
Attending the ceremony were comrades: Former General Secretary Nong Duc Manh; Politburo member, Prime Minister Pham Minh Chinh; former Politburo members, former Chairmen of the National Assembly: Nguyen Sinh Hung, Nguyen Thi Kim Ngan.
Also attending the Ceremony were Politburo members: Permanent Deputy Prime Minister Nguyen Hoa Binh; Director of the Ho Chi Minh National Academy of Politics, Chairman of the Central Theoretical Council Nguyen Xuan Thang; Minister of Public Security, General Luong Tam Quang; Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen; comrades Secretaries of the Party Central Committee, members of the Party Central Committee, former members of the Party Central Committee, leaders of the Government, leaders of the National Assembly, central and local ministries and branches, leaders and former leaders of the Finance, Planning and Investment sectors through the periods and representatives of a number of international financial organizations in Vietnam.
Become a strong coordinating center of the economy
Delivering a speech at the ceremony, Mr. Nguyen Van Thang, member of the Party Central Committee and Minister of Finance, said that on August 28, 1945, President Ho Chi Minh signed a decree to establish the Provisional Revolutionary Government of the Democratic Republic of Vietnam, consisting of 13 Ministries, including the Ministry of Finance. Since then, this day has become the traditional day of the Vietnamese Finance sector every year.
Delegates attending the Celebration Ceremony. (Photo: Thong Nhat/VNA)
Over the past 80 years, the financial sector has steadily overcome numerous difficulties, continuously grown, developed and affirmed its central position in general consulting, planning socio-economic development strategies, managing national financial resources, making an important contribution to the cause of building, protecting and developing the country's socio-economy.
After nearly 40 years of Renovation, from a poor and backward country, under the wise leadership of the Party, the efforts of the entire political system, the consensus of the people of the whole country, and the enthusiasm of the business community, Vietnam has maintained a fairly high growth rate for a long time, the economic scale has increased from more than 5 billion USD (in 1986) to over 476 billion USD in 2024, making Vietnam the 4th largest economy in Southeast Asia and the 34th largest economy in the world.
Along with the strong growth of the economy, the financial sector has grown steadily, making an important contribution to the socio-economic development of the country. If in 1946, the Independence Fund had about 20 million Indochinese piastres, by 2024, the total budget revenue had exceeded 2.1 million billion dong, an increase of nearly 100,000 times compared to the early period of the country's founding. The tax system is increasingly complete, in line with international practices, contributing to the reasonable mobilization of resources for development.
Vietnam has witnessed an explosion in the number of established enterprises, especially private enterprises and small and medium enterprises; becoming an attractive destination for foreign investors thanks to its open-door policy, improved business environment and favorable geographical location.
State-owned enterprise reform has achieved many important results, contributing to improving operational efficiency and strengthening the leading role of the state economy in the socialist-oriented market economy.
Mechanisms and policies on state capital management in enterprises have been developed and improved, decentralization and delegation of authority have been enhanced, while publicity and transparency in equitization, divestment and supervision of state-owned enterprise activities have been promoted to prevent capital loss and waste; the number of state-owned enterprises has been drastically reduced, focusing on large-scale enterprises with strategic roles and the ability to lead the economy. The health insurance coverage rate has reached over 94% of the population, contributing significantly to the country's comprehensive social security system.
The financial sector today with a new scale, from March 1, 2025, on the basis of merging the Ministry of Finance and the Ministry of Planning and Investment, merging Vietnam Social Security, receiving the functions and tasks of the State Capital Management Committee at enterprises, the new mission will continue to demonstrate professional capacity, management capacity, synchronous coordination and the spirit of continuous reform; more proactive and flexible in management; more integrity and discipline in performing tasks; more modern and professional in organizational structure - to truly become a solid coordination center of the economy, a reliable fulcrum of the nation in all situations.
Continue to pioneer, commit, innovate
Speaking at the ceremony, General Secretary To Lam emphasized that in every historical period, the financial sector has always played a strategic and comprehensive advisory role in socio-economics, while mobilizing, managing, and allocating resources to ensure the tasks of resistance for national liberation, national unification, socio-economic development, national defense, security, and social security.
General Secretary To Lam presents the First Class Independence Medal to the finance sector. (Photo: Thong Nhat/VNA)
On behalf of the Party and State leaders, the General Secretary acknowledged, commended and highly appreciated the contributions and efforts of all cadres, civil servants, public employees and workers in the entire financial sector. The financial sector is not only a pillar in the country's financial policy but also a pioneer in innovation and national economic development, highly appreciated by the Government, the business community and domestic and foreign investors.
The General Secretary emphasized that the new context places high and urgent demands on the financial sector. Whether our country's economy can make a breakthrough and grow strongly or not depends on the extremely important role of the financial sector.
The General Secretary suggested that the Finance sector should focus on thoroughly resolving bottlenecks and bottlenecks in development institutions; adjusting economic space, expanding development space, enhancing decentralization, delegation of power, allocation and combination of economic resources.
Establish a new growth model using science and technology, innovation and digital transformation as the main driving force to create strong changes in productivity, quality, efficiency and competitiveness of the economy.
Building and perfecting state financial and budgetary institutions and policies; improving the effectiveness and efficiency of law enforcement with the view that institutions are the "breakthrough of breakthroughs," and institutions are the resources and driving force for development.
Pioneering in realizing important policies and resolutions of the Party, especially Resolution No. 68 on private economic development; Resolution No. 57 on breakthroughs in science, technology, innovation and national digital transformation, contributing to the achievement of the double-digit growth target in the coming period.
Review and continue to improve institutions and policies for the state economy, including state-owned enterprises, promote decentralization along with enhancing accountability, improving operational efficiency and governance capacity to maximize the role and resources that state-owned enterprises are holding to lead and create momentum for the economy as well as implement the State's policies and orientations.
The General Secretary emphasized the need to closely follow and correctly assess the domestic and international economic situation; proactively analyze and assess the impact of fiscal and monetary policies to promptly advise the Government on scenarios and proactive solutions in managing state budget revenue and expenditure; strengthen state financial and budgetary discipline; strictly manage state budget revenue, ensure correct, sufficient and timely collection; strictly and effectively manage state budget expenditure; thoroughly save regular expenditures, increase revenue and save expenditures to focus on development investment, on a number of large projects that are transformational and turn around the situation.
The General Secretary requested solutions and measures to more effectively mobilize resources for development in the financial market, capital market, stock market, economic resources among the people, etc. to increase capital attraction both domestically and internationally, creating better capital mobilization channels for enterprises, especially private enterprises; promote disbursement of public investment capital, focusing on strategic infrastructure projects such as transportation, renewable energy and digital transformation; at the same time, improve the investment environment, reduce administrative procedures to attract high-quality FDI capital; effectively manage and use public assets, increase transparency and efficiency in exploiting and using state capital in enterprises.
The General Secretary pointed out that it is necessary to continue to focus on and maintain solutions to ensure social security and improve people's lives, so that along with economic development, people's lives must be better and more comprehensive in all aspects.
Our country is entering a new era of development, with a glorious tradition of 80 years of construction and development, the General Secretary believes that the collective leadership, cadres, civil servants and workers of the Finance sector will continue to promote the spirit of solidarity, unanimity, and strive to better perform the assigned tasks, contributing to realizing the aspiration of bringing the country to prosperity, prosperity and happiness. The Finance sector must continue to be a pioneering, dedicated and innovative force for a prosperous and powerful Vietnam.
On this occasion, on behalf of the Party and State, General Secretary To Lam awarded the First Class Independence Medal to the Finance sector for its great achievements and contributions to the cause of national construction and defense.
Prime Minister Pham Minh Chinh presented the First Class Labor Medal to comrade Nguyen Van Thang, member of the Party Central Committee and Minister of Finance./.
(Vietnam News Agency/Vietnam+)
Source: https://www.vietnamplus.vn/nganh-tai-chinh-phai-tiep-tuc-la-luc-luong-tien-phong-dan-than-doi-moi-post1054486.vnp
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