Party General Secretary To Lam presents the First-class Independence Order to the Ministry of Finance, Hanoi, August 8, 2025. (August 28).

Speaking at a ceremony in Hanoi, Mr. Lam praised the financial sector for its pioneering efforts in implementing Vietnam’s new economic model.

He said priority should be given to removing institutional bottlenecks, enhancing decentralization and delegation of authority, and ensuring the effective allocation and coordination of economic resources.

A new growth model must be driven by science, technology, innovation, and digital transformation to enhance productivity, quality, efficiency, and the competitiveness of the economy, the Party leader said. “It is crucial to fine-tune financial and budgetary institutions. Institutions are the ‘breakthrough of breakthroughs’ and a vital resource and momentum for development.”

At the ceremony, Prime Minister Pham Minh Chinh awarded the First-class Labor Order to Minister of Finance Nguyen Van Thang.