Advancing Toward Digital Treasury

3:09:10 PM | 9/22/2022

By upgrading information technology (IT) applications, the State Treasury of Ca Mau is placing a premium on building an electronic treasury, gradually moving towards a digital treasury featured by “contactless”, “cashless” and “paperless” transactions.

Mr. Duong Huu Tang, Director of State Treasury of Ca Mau

Fostering IT application

In response to local policies of reforming administrative procedures and improving the investment environment, the State Treasury of Ca Mau has further modernized State budget revenue and expenditure management through simplicity, publicity and transparency of processes and procedures and upgraded technologies in recent years. This move has satisfied and been highly appreciated by customers.

Accordingly, in order to enhance safety and modernity, the State Treasury of Ca Mau is authorized to invest in adequate and synchronous technological infrastructure to meet its modernization goals. Many application programs are managed and operated smoothly and stably, including TABMIS, peer-to-peer electronic payment and interbank electronic payment (Citad), to best serve customers in payment transactions and supervision on the one hand and facilitate organizations and individuals to pay and use the budget by law.

State Treasury of Ca Mau focuses on improving employees’ professional skills 

The State Treasury of Ca Mau has actively adopted the “contactless”, “cashless” and “paperless” model. In particular, the deployment of online public services has helped reform administrative procedures strongly and facilitated budget users to perform transactions anytime, anywhere to reduce time and cost for this work, especially in remote areas.

In addition, following policies of the Government, the Ministry of Finance and the State Treasury of Vietnam on the accelerated application of non-cash payment, State Treasury of Ca Mau deployed Plan 470/KH-KBCM dated May 19, 2022 for implementation of the project on non-cash payment development of the State Treasury system to 2025 in the Ca Mau State Treasury system and informed, encouraged and guided customers to use non cash payment methods in transactions.

In late 2021, State Treasury of Ca Mau electronically interconnected professional applications (Online public services - Information system for budget and treasury management - peer-to-peer electronic payment). The results showed that it has better served the spending needs of customers, especially amid the complicated development of the COVID-19 pandemic. The interconnection has also reduced time, effort and cost, increased convenience for stakeholders, and ensured strictness, completeness, and thoroughness to avoid risk exposure.

Improving the operating apparatus

Not only intensifying IT application, digitizing operations, and accelerating administrative procedure reform, State Treasury of Ca Mau has also streamlined staffing and built a lean and efficient apparatus. Since 2015, it has dissolved and merged seven departments to make five and closed 24 district-level State Treasury agencies.

Currently, the workforce of the State Treasury of Ca Mau was cut by 13 staff, down 15.9% from 2015. The reduction rate is over 10%, higher than the target of 10% set by Resolution 39/NQ-TW of the Politburo dated 17 April 2015 on downsizing and restructuring employees.

Mr. Duong Huu Tang, Director of State Treasury of Ca Mau, said, by 2025, the agency targets to apply electronic methods to all State Budget revenue and expenditure transactions via the State Treasury (except for transactions in special fields provided by law); interlink data of budget estimation, allocation, acceptance, accounting, and finalization; share information and data of state budget revenues and expenditures; and complete the mechanism for controlling state budget expenditure to control risk exposure.

To accomplish this goal, in the coming time, the State Treasury of Ca Mau will further strengthen IT applications and gradually form a digital treasury. In the near future, it will effectively use digital technologies such as cloud computing, big data, mobility, the Internet of things (IoT), artificial intelligence (AI) and blockchain to optimize management, administration and service delivery processes.

It will also improve the system and solutions for safety, security and risk prevention; and ensure safe, stable and smooth operation in all situations.

Determining that the human factor is decisive in all activities, State Treasury of Ca Mau pays attention to training, fostering and arranging employees with the right professional capacity, expertise, qualifications, ideology, strong values and good morale to meet their work requirements. At the same time, the agency will create conditions for its employees to take part in training courses to improve their professional qualifications to meet the growing needs of the State Treasury system.

“The State Treasury of Ca Mau closely follows the digital transformation plan of Ca Mau province and the State Treasury of Vietnam to work out an action plan to ensure connectivity with the province's IT system and better serve local State Treasury tasks, thus facilitating people and businesses in payment transactions and control at the State Treasury and helping improve the Provincial Competitiveness Index (PCI) in particular and attracting investment capital for socioeconomic development in general,” he affirmed.

Giang Duong (Vietnam Business Forum)