Party General Secretary To Lam made the request at a ceremony in Hanoi on August 8 marking the 80th anniversary of the financial sector.

He commended the sector for its significant accomplishments over the past eight decades, saying the sector has consistently affirmed its pivotal role in formulating economic and financial policies, contributing substantially to national construction, defence, and development.

Amid evolving global and domestic economic challenges, he urged the sector to promptly implement breakthrough solutions in institutional reform, adjust and expand the economic space, and promote decentralisation and resource allocation in an effective and strategic manner.

He emphasised the need to establish a new growth model, where science, technology, innovation, and digital transformation serve as key driving forces to enhance productivity, quality, efficiency, and competitiveness of the economy.

The Party leader also called for continued efforts to build and perfect financial–budgetary institutions and policies, improve the effectiveness of legal enforcement. He reaffirmed that institutions should be viewed as the “breakthrough of breakthroughs” and as critical resources and drivers of development.

He tasked the financial sector with taking the lead in implementing major Party resolutions, particularly Resolution 68 on private sector development and Resolution 57 on science, technology, innovation, and national digital transformation, to help realise the goal of double-digit economic growth in the coming period.

General Secretary To Lam also stressed the importance of strengthening fiscal discipline and budgetary governance, ensuring accurate, sufficient, and timely revenue collection, and implementing strict, efficient public spending. He suggested reducing regular expenditures to concentrate resources on development investment, especially strategic projects that can shift national development trajectories.

He further emphasised the need to mobilise resources more effectively from the financial, capital and stock markets, and from the public, to create better access to funding for businesses, especially private enterprises.

In addition, he instructed the financial sector to speed up public investment disbursement, focusing on key infrastructure projects like transport, renewable energy, and digital transformation, while improving the investment climate, cutting red tape, and attracting high-quality FDI.

The General Secretary also stressed the need to review and improve policies for state-owned enterprises (SOEs), promote decentralisation with accountability, improve governance and performance, and enable SOEs to play a leading role in driving the economy and implementing key State policies.

Last but not least, General Secretary To Lam reminded that economic development must go hand in hand with comprehensive improvements in the quality of life for the population.

On behalf of the Party and State leadership, General Secretary To Lam awarded the Independence Order, First-Class, to the Ministry of Finance, while Prime Minister Pham Minh Chinh presented the Labour Order, First-Class, to Minister of Finance Nguyen Van Thang.

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