Hanoi (VNA) – NationalAssembly Chairwoman Nguyen Thi Kim Ngan asked the Vietnam State Treasury (VST)to continue following orientations in its development strategy until 2020 witha vision to 2040 during a working session in Hanoi on March 3.

Addressing the session, Ngan hailedthe VST for fulfilling its tasks of collecting State budget revenue each year,closely controlling budget expenses and revenues and raising capital for developmentby issuing treasury and government bonds.

She directed the financial sector andVST in particular to keep further tapping their role as advisors to thegovernment and legislature in terms of financial-budget and fiscal policymanagement, pool all possible financial resources for national development, andpropose measures to utilise such resources.

She requested them to build on thepast achievements to modernise their operations by adopting informationtechnology and accelerating administrative reform.

Highlighting personnel work ascrucial to every assigned task, the top legislator said the VST must alwaysuphold the tradition of internal solidarity it has fostered over the past 27years in the principle of democracy, openness and transparency, regularcriticism and self-criticism.

The financial sector and VST need tofurther popularise the national patriotic emulation campaign, she said, addingthat “Good People, Good Deeds” examples must be honoured and spread, therebyencouraging officials and cadres to overcome difficulties and fulfill assignedtasks.

About VST’s proposals, the leadersaid the legislature gave nod to the launch of e-treasury by 2020.

While functioning as the State budgetmanager and chief accountant, the VST was advised to propose amendments andsupplements to relevant laws to the Finance Ministry, which will be submittedto the government and NA for consideration, thus creating a full andsynchronous legal framework for VST to perform its function.

On amendments and supplements to lawsand ordinances related to the opening of the VST’s bank account, the NA will mullover revisions to the Law on the State Bank of Vietnam and the Ordinance onForeign Exchange Control in line with the Constitution 2013 and the Law onState Budget 2015.

The Finance Ministry and VST wererequired to work closely with the State Audit Office and the NA’s Finance-BudgetCommittee to devise the State budget balance sheet report to submit to the NAfor approval.

They were also assigned to cooperatewith concerned agencies to review the outcomes of realising developmentstrategy until 2020, thereby laying a foundation to develop another strategyfor the next period, which she said, should target refining regulations,promoting technological application, strengthening training of high-qualityhuman resources to further improve the VST’s operations.

At the same time, she proposed themwork with relevant agencies to build the Law on the VST or make changes to thelaws on State budget, accounting and banking.

Reporting the outcomes of the VST’sdevelopment strategy in 2011-2016, VST Director General Nguyen Hong Ha said thebudget revenue surged from 800 trillion VND (34.7 billion USD) in 2011 to 1,095trillion VND (47.6 billion USD) in 2016 and spending stood at 5,500 trillionVND (239.1 billion USD) during the five-year period.

The issued government bonds are worthnearly 190 trillion VND (8.26 billion USD) per year.-VNA