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Plan for e-finance system by 2025

The Ministry of Finance aims to have financial cloud infrastructure fully operational by 2025.

Innovation in mobile devices and cloud technology on a large scale is key to technological application of the fourth industrial revolution, said Minister of Finance Dinh Tien Dung. 

According to the resolution, the Ministry of Finance is applying technological achievements of the fourth industrial revolution to build a smart governance system, as well as providing smart financial services, and actively participating in the development of the digital economy.

The sector will plan to gradually switch applications to the cloud environment while setting up a comprehensive information security governance system, in compliance with Vietnamese regulations and international standards.

When operational, the financial cloud will help improve the electronic working environment. The use of data sharing, streamlining and automating internal processes, and providing the ability to search information on mobile devices, will combine towards paperless offices.

The application of new technology in the fourth industrial revolution period will also create a digital financial ecosystem based on the open data of the finance sector, creating conditions for people, enterprises, agencies and organisations to easily, and equally access information of the sector.

At present, the Government of Vietnam is investing heavily into the building of e-government structures.

The digital government invests in new technologies of the fourth industrial revolution era such as Internet of Things, blockchain, mobility, cloud computing, big data, data analytics and artificial intelligence to streamline or eliminate processes. This will allow the Government to innovate management and public services, bringing greater efficiency and effectiveness in the digital era.