Representatives of enterprises do procedures at HCM City Taxation Department. US-based company IBM and the Ministry of Finance has successfully completed the treasury and budget management information system, enabling the governmental agency to manage its budget. — Photo nld.com.vn

HA NOI (Biz Hub) — US-based company IBM, on August 13, announced that the Ministry of Finance of Viet Nam (MOF) and IBM have successfully completed the Treasury and Budget Management Information System (TABMIS) project.

TABMIS is a key component of the Public Finance Management Reform Project (PFMRP) undertaken by the ministry and funded by the World Bank.

It is the cornerstone of the Vietnamese government's public financial management reform, and aims to improve transparency and accountability in the public finance management through modernising the state treasury and budget management functions including budget allocation, accounts payable, accounts receivable, along with cash management, purchase order and reporting management.

The centralised system was using the Oracle Financials solution on the IBM hardware environment, coupled with additional customisations developed by the IBM project team with deep insight in public finance management areas.

The system is being operated in all provincial and district treasuries and finance offices across Viet Nam, as well as the ministries and ministerial organisations.

More than 10,000 end–users operate the system to execute budget transactions as well as provide information and report to the different management levels. — VNS