Tran Quoc Van, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People’s Committee (fourth left), and the leadership of the Hung Yen Provincial Department of Finance, the Organization Commission of the Provincial Party Committee, and the provincial Department of Internal Affairs

The Hung Yen Provincial Department of Finance is an agency under the People’s Committee of Hung Yen Province, with the function of advising and assisting the provincial People’s Committee in implementing the task of state management of financial issues, including state budget, taxes, fees, other contributions to the state budget, state assets, state financial funds, financial investment, enterprise finance, accounting, independent auditing, pricing, and local financial services as prescribed by law.

Nguyen Duc Tai, Director of the Hung Yen Provincial Department of Finance, stated that in 2023, the provincial People’s Council assigned the province to reaching the state budget revenue of VND22.921 trillion, including domestic revenue of VND18.221 trillion and revenue from import and export activities of VND4.7 trillion. The province is mandated to further ensure the balance of revenue and expenditure of the state budget and contribute to the central state budget. Having acknowledged that state budget resources are important for the province’s socioeconomic development, the Department of Finance pays special attention to ensuring the effectiveness of budget revenue and expenditure.

In 2023, despite the ongoing impact of the pandemic, the provincial financial sector successfully fulfilled its tasks. The budget management and administration have met the requirements for implementing the state budget estimate, economic and political tasks of the locality, and the tasks of budget users, all of which have achieved encouraging results.

The province reached a total budget revenue of VND33.1 trillion in 2023 (44 percent higher than the yearly target), including domestic revenue worth VND29.5 trillion (61.9 percent higher than the target), and revenue from import-export activities of VND3.6 trillion (76.6 percent of the target).

Headquarters of the Hung Yen Provincial Department of Finance

Director Nguyen Duc Tai said that on carrying out other tasks, the department proposed a plan to balance the provincial budget for 2023; guided agencies, units, people’s committees of districts, townships and Hung Yen City to implement financial and budget tasks according to the Government’s resolution and the action program of the Provincial People’s Committee; coordinated with relevant units to guide the construction of the state budget estimate for 2024, and the state budget plan for the 2024-2026 period.

In order to enhance operational efficiency, the Department of Finance aims to continue implementing tight fiscal policies, managing and administering expenditures in accordance with regulations, combating waste, improving the efficiency of state budget utilization, and ensuring that the budget has been decided by the People’s Council and the People’s Committee. It will continue to carry out and complete inspections and audits according to the inspection plan for 2024. The department will also continue to focus on training its staff members, improving their awareness, professional competence, office culture, communications skills, and administrative skills to help officials and public servants strive to excellently fulfill their 2024 tasks.n