HCMC – The Ministry of Finance will have nine deputy ministers following a shakeup, reported the local media.
The restructuring merges the Ministry of Finance with the Ministry of Planning and Investment and absorbs Vietnam Social Security. Certain functions from the Commission for the Management of State Capital at Enterprises (CMSC) and the National Financial Supervisory Commission will also be transferred to the Finance Ministry. The newly structured ministry will begin operations on March 1.
Prime Minister Pham Minh Chinh has signed appointment decisions for four deputy ministers from the Ministry of Planning and Investment, including Nguyen Duc Tam, Do Thanh Trung, Tran Quoc Phuong, and Nguyen Thi Bich Ngoc.
Ho Sy Hung, previously vice chairman of the CMSC, was also appointed as deputy minister.
The Ministry of Finance previously had four deputy ministers. With the new appointments, it has reached the maximum nine deputy ministers allowed under a resolution from the National Assembly’s Standing Committee.
The Ministry of Construction is also permitted to have up to nine deputy ministers, while the Ministries of Foreign Affairs and Home Affairs are capped at seven. The State Bank of Vietnam is limited to six.
