Finance Ministry aims for modern, transparent digital financial ecosystem by 2030

The Ministry of Finance sets to develop the foundation for a modern and transparent digital financial ecosystem based on big data and open data by 2025, according to the ministry’s digital transformation plan to 2025 with orientation to 2030 newly-signed by Minister Ho Duc Phoc.

By 2030, the ministry aims to establish a developed digital financial ecosystem with cyber security and efficiency.

The overall objective is to accelerate digital transformation in tandem with building a sustainable, advanced and globally-integrated national financial system in an effort to boost growth, enhance resilience of the economy, and maintain macro-economic stability and financial security.

The ministry plans to apply Fourth Industrial Revolution technologies and inherit what has been done in building an e-Government in a bid to step-by-step digitally transform the finance sector, provide digital financial services and play a part in developing a digital economy and society.

It will cut down the number of public administrative procedures, and reform, simplify and standardise public financial services to reduce costs and improve service quality and productivity by 2025. Accordingly, public administrative services will be done online, providing citizens with paperless and more convenient experience.

The ministry also intends to step up the implementation of the National Single Window and the ASEAN Single Window to facilitate trade.