On the morning of August 8, the Ministry of Finance held a ceremony to celebrate the 80th anniversary of the financial sector's tradition and receive the First Class Independence Medal.
Besides General Secretary To Lam attending and giving a speech, the ceremony was also attended by Prime Minister Pham Minh Chinh, Permanent Deputy Prime Minister Nguyen Hoa Binh and leaders and former leaders of the Party, State, and Vietnam Fatherland Front...
5 notable milestones of the financial industry
In his opening speech, Minister of Finance Nguyen Van Thang said that over the 80 years of formation, construction and development, especially in the 40 years of renovation, the financial sector has achieved many achievements.
The Minister reviewed 5 outstanding milestones of the industry.
The first is the shift from centralized planning to openness, integration, building a socialist-oriented market economy , proactively creating a new development ecosystem, taking science and technology, innovation and digital transformation as the main driving force.
This has contributed to the average economic growth of 5 years 2021-2025 reaching about 6.3%/year, among the highest growth group in the world and the region. In particular, in 2025, we strive to grow 8.3-8.5%. GDP per capita reaches about 5,000 USD, bringing our country into the group of upper middle-income countries.
Second, perfect and innovate fiscal policies to both promote economic development and mobilize and orient the allocation and effective use of resources for development; make breakthroughs in infrastructure development, ensure social security, national defense, security, education, health care, etc., contributing to ensuring macroeconomic stability, controlling inflation and promoting economic growth.
Up to now, the State budget revenue has reached about 2 million billion VND, of which the development investment expenditure ratio has increased to 32%, ensuring resources for development investment, completing the target of 3,000km of expressway and about 1,700km of coastal road...
Minister of Finance speaking on the morning of August 8 (Photo: BTC).
Third is the breakthrough in thinking and action in advising on institutions, mechanisms, and policies for socio-economic development. A series of important laws have been researched, developed, and reported to the Government for submission to the National Assembly by the industry, creating a transparent, open, and favorable investment and business environment in the direction of development creation, approaching international practices, and promoting the strong development of economic sectors...
Fourth, create and gradually perfect the institutional and legal framework and infrastructure system to form and develop insurance and securities in an increasingly sustainable manner to promote economic development and become an important investment and capital mobilization channel for businesses and the economy.
Fifth, perform well the advisory function on social insurance and health insurance mechanisms and policies. In addition to social security expenditures from the budget, social insurance and health insurance have continuously affirmed their role as important social policies, the main pillars of the social security system, ensuring economic growth closely linked to the implementation of social progress and equity, and the development of Vietnamese people.
General Secretary: Financial sector focuses on developing capital market
In his speech, General Secretary To Lam praised and highly appreciated the contributions and efforts of the financial sector. According to the General Secretary, 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.
General Secretary To Lam suggested a number of issues for the financial sector to pay attention to and implement.
The first is institutional breakthroughs, financial strategies and growth model innovation. According to the General Secretary, the financial sector needs to focus on thoroughly resolving bottlenecks and constraints in development institutions, adjusting economic space, expanding development space, enhancing decentralization, delegation of authority, allocation and combination of economic resources.
General Secretary To Lam speaks on the morning of August 8 (Photo: Organizing Committee).
The financial sector needs to take the lead in implementing important policies and resolutions of the Party, especially Resolution 68 on private economic development, Resolution 57 on breakthroughs in science and technology development, innovation and national digital transformation, contributing to achieving the double-digit growth target in the coming period.
Second is modern and effective financial and budget management by closely following the correct assessment of the domestic and international economic situation, proactively analyzing and assessing the impacts of fiscal and monetary policies to promptly advise the Government on scenarios and proactive solutions in managing budget revenue and expenditure.
The financial sector needs to strengthen financial and state budget discipline, strictly manage state budget revenue and expenditure, ensure correct, sufficient and timely collection. Manage state budget expenditures closely and effectively, thoroughly save regular expenditures, increase revenue, save expenditures to focus on development investment, some large projects...
Third is to develop the capital market, mobilize and effectively use resources by providing solutions and measures to mobilize and more effectively use resources for the development of the financial market, capital market, stock market, and economic resources among the people.
Fourth, we must continue to focus on and maintain solutions to ensure social security to improve people's lives. According to the General Secretary, along with economic development, people's lives must be better and more comprehensive in all aspects.
"The country is entering a new era of development. With a glorious tradition of 80 years of construction and development, the financial sector will certainly successfully complete the tasks entrusted to it by the Party, State and people," the General Secretary emphasized.
Source: https://dantri.com.vn/kinh-doanh/tong-bi-thu-nganh-tai-chinh-la-luc-luong-tien-phong-phat-trien-kinh-te-20250808115245235.htm
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