News

Changing the function of the Ministry of Finance in State asset management

Summary

Updated on : 07-08-2017

VCN- The Government has just issued Decree 87/2017/ND-CP regulating the functions, tasks, powers and organizational structure of the Ministry of Finance. In particular, some functions of the Ministry of Finance related to management of State budget and assets are changed.  

Specifically, regarding to State asset management, the Ministry of Finance continues to undertake the function of unified State management on State assets in accordance with provisions of the law; Hosts and collaborates with ministries, sectors and localities to develop and submit to competent levels for issuing legal normative documents on management, use and exploit of State assets in accordance with the law; Hosts, develops and issues under its competence or submits to the Government and the Prime Minister for issue the norms and standard of using State assets; Decides under its competence or submits to the Prime Minister for decision on purchasing, identifying ownership, assigning, exploiting, retrieving, moving liquidating, selling and transferring of State assets in accordance provisions of the law; Guides and examines the implementation of the provisions of the law in management and use of State assets in accordance with the provisions of the law; Summarizes the management and use of State assets in the country and reports to the Government to submit the National Assembly.

Besides, instead of regulating the management and use of state assets in agencies, units and organizations in accordance with the provisions of the law and decentralization of the Government as current provisions, in the new Decree, the Ministry of Finance only needs to develop mechanisms, policies and examines the centralized procurement in accordance with the law and the assignment of the Prime Minister. Also taking charge of consulting instead of assessing the draft, standards, norms, regimes of management and use of assets which are developed by ministries and agencies in Central before being promulgated.

Regarding the State budget management, the Ministry of Finance is added more tasks of summarizing, formulating and submitting to the Government the five-year financial plan, three-year State budget plan and adjusting these plans in parallel with summarizing, formulating and adjusting State budget estimates and annual central budget allocation plan as current provisions.

This task aims to implement the law of State Budget 2015 which has just taken effect.

The other functions of the Ministry such as: State reserve fund, State financial funds, financial investment, corporate finance, and cooperative finance and collective economy, State assets in accordance with provisions of the law; Customs, accounting, independent audit, prices, securities, insurances; financial and other services within its state management scope; conducting the ownership rights to the State’s investment capital in enterprises according to regulations of the Law, which are basically as current provisions.

This Decree replaces Government’s Decree 215/2013/ND-CP regulating the functions, tasks, powers and organizational structure of the Ministry of Finance.

By Hong Van/Ngoc Loan