The new Ministry of Finance after the merger will reduce 3,600 units.

According to the Government's restructuring plan, the Ministry of Finance will merge with the Ministry of Planning and Investment and merge with the Vietnam Social Security. At the same time, some functions and tasks of the State Capital Management Committee at Enterprises and the National Financial Supervision will also be transferred to the Ministry of Finance. The new agency will retain the name of the Ministry of Finance.

At a meeting related to the draft Decree on the organizational structure of the Ministry of Finance on February 7, Deputy Minister of Finance Nguyen Duc Chi said that after the merger, the number of focal points will decrease by about 3,600, equivalent to 37.7% compared to the current number of focal points of units and organizations of the Ministry of Finance, the Ministry of Planning and Investment and Vietnam Social Security.

Of which, 2 focal points at the ministerial level and Government agencies; 6 focal points at the general department level; 98 focal points at the department, bureau and equivalent levels under the ministry; 336 focal points at the department, bureau and equivalent levels under the general department; about 3,100 focal points from the department, branch and equivalent levels under the department, bureau and equivalent levels under the ministry and below...

Specifically, according to the consolidation plan report of the Ministry of Finance, administrative organizations with overlapping functions and tasks will be reduced from 10 to 5 units. Organizations with linked or interconnected functions will be consolidated or merged from 20 to 8. Independent organizations with expertise or specific characteristics will remain the same (12 units).

General departments and equivalents under the Ministry (General Department of Taxation, Customs, Statistics, State Reserves, State Treasury, State Securities Commission) become administrative organizations equivalent to departments under the Ministry. Vietnam Social Security is merged into the Ministry of Finance to organize into a single focal point.

According to the leader of the Ministry of Finance, the arrangement and consolidation will be based on the principle that one organization will perform many tasks, and one task will be assigned to only one unit with primary responsibility.

At the meeting, Minister of Planning and Investment Nguyen Chi Dung said the two ministries had coordinated and agreed on the plan. "Currently, there are no issues with different opinions on the draft Decree," he said.

According to Mr. Dung, the arrangement and streamlining of the organizational apparatus is a big and important issue, especially in the context of Vietnam preparing for a new era. Therefore, the administrative apparatus must be strong, operate effectively and smoothly to achieve the set goals.

He noted that the arrangement and organization of the new Ministry of Finance needs to inherit the functions and tasks of the two ministries, ensuring no omissions or overlaps, and smooth and effective operation.

At the meeting, opinions emphasized that the arrangement of cadres must ensure publicity, rationality, right person, right job. The operator also needs to propagate and educate cadres, civil servants, public employees, and workers. Along with that, the material conditions must be ensured so that the new Ministry of Finance can operate immediately and smoothly.

Concluding the meeting, Deputy Prime Minister Ho Duc Phoc requested the two ministries and relevant agencies to continue reviewing and ensuring that no functions, tasks, or scope of work are left out so that the new apparatus can operate smoothly and effectively. He requested that "once the arrangements are complete, the work must run" because the Ministry of Finance is the "core" ministry - the "blood vessel" of the economy.