Vietnam and Hungary Strengthen Cooperation in Treasury
|Deputy Minister of Finance Cao Anh Tuan chaired the meeting. Photo: Gia Han
Speaking at the meeting, Deputy Minister Cao Anh Tuan welcomed the delegation visiting Vietnam under the bilateral cooperation program between the two Treasurys signed on September 20, 2017 in Budapest, Hungary.
The content of the Memorandum of Understanding focuses on topics of mutual interest, such as Experience in completing functions, tasks, and organizational model of the Treasury system; the management of the state budget; accounting work and state budget reporting; Government financial statements; internal audit work; the digitization and modernization of information technology and management of electronic documents.
|Ábel Berczik, deputy state secretary, Hungarian Ministry of Finance. Photo: Gia Han
Deputy Minister Cao Anh Tuan said that the process of exchange and cooperation between the two Treasurys takes place regularly. From 2017 to 2019, the two sides have continuously exchanged delegations.
By the period of 2020-2021, due to Covid-19, the State Treasury of the two countries had to work online to ensure pandemic prevention and control. However, they still achieved certain results. In 2022, cooperation activities with Hungary have not been organized due to many factors, including the complicated situation of the Covid-19 pandemic.
Deputy Minister Cao Anh Tuan said that bilateral cooperation with the Hungarian State Treasury has helped the State Treasury of Vietnam grasp solutions in the management of financial resources. This is to improve the efficiency of public financial management in the context of international economic integration.
This also shows the initiative of the State Treasury of Vietnam in learning from the advanced technological solutions of friends around the world. After that, Vietnam applied them selectively to professional activities, perfecting mechanisms and policies on state budget revenue and expenditure, public financial management and public assets.
This also helps standardize the Treasury's professional activities by developing modern information technology systems and decentralizing budget management at all levels. It also enhances the training of high-quality staff and human resources and ensures data safety and digital information security to participate in the Fourth Industrial Revolution.
|Overview of the meeting. Photo: Gia Han
At the meeting, Deputy Minister Cao Anh Tuan expressed his support for the intensive cooperation program between Vietnam and Hungary in treasury, treasury management and information technology. He hoped this cooperation program will continue to be implemented effectively.
“In the coming time, we hope that the two sides will continue to have more effective exchanges to agree on cooperation activities implemented in 2023 within the framework of the Memorandum of Understanding. With a long tradition of friendly cooperation between the two States, I believe that the cooperation and sharing of in-depth experiences in the Treasury field will continue to obtain good results", said Deputy Minister Cao Anh Tuan.
Speaking at the meeting, Ábel Berczik, deputy state secretary, the Hungarian Ministry of Finance thanked the Ministry of Finance of Vietnam for the welcome.
He said the cooperation between Vietnam and Hungary has existed for a long time, even in the period when both countries faced difficulties due to war consequences. In recent years, the relationship between the two sides has been strengthened, in which the cooperation between the State Treasury of Vietnam and Hungary must be mentioned.
Ábel Berczik hopes that in the coming time, the Ministry of Finance and the State Treasury of the two countries will continue to strengthen the relationship in the following areas: state budget management, state budget accounting and reporting; Government financial statements; internal audit.
Deputy Secretary of State Ábel Berczik also emphasized Hungary's willingness to share its experience to successfully implement the intensive cooperation program between Vietnam and Hungary in treasury, treasury management, and information technology.
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