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Tuesday, April 5, 2016 11:55

The Establishment and Development of Academy of Finance

Academy of Finance was established based on the Decision No. 120/QD-TTg dated August 17, 2001, by the Prime Minister of the Government, through the merger of three units: Hanoi University of Finance and Accounting, the Institute of Financial Scientific Research, and the Training Center of the Ministry of Finance. In 2003, the Financial Academy also incorporated the Institute of Market Prices Scientific Research.

Among these, Hanoi University of Finance and Accounting was originally founded as the Central Bank, Finance and Accounting Cadres School, established by Decision No. 117/CP on July 31, 1963, by the Council of Ministers. The establishment of the Central Bank, Finance and Accounting Cadres School marked a significant milestone in the creation of a university-level institution, specializing in finance and accounting education in Vietnam, both at the undergraduate and postgraduate levels.

President of the Academy of Finance

Associate Professor. Dr. Nguyen Trong Co

The Academy is tasked with providing education for undergraduate and postgraduate level in the fields of finance, accounting, business administration, English for finance and accounting, and financial and accounting informatics.  Additionally, the Academy conducts scientific research and provides training in management technologies related to finance, accounting, and business management. These activities serve the purpose of formulating financial and economic policies for the sector and the country. The Academy also serves in teaching and management capacities and provides training according to standards for professional titles and expertise, including financial and accounting expertise and management technologies.

The logo of the Academy of Finance

I. General Information

- Headquarter: No. 58, Le Van Hien street, Duc Thang ward, Bac Tu Liem district, Hanoi, Vietnam

- Contact:

Tel: (84)(243)838-9326                                                                      Fax: (84)(243)838-8906

- E-mailhocvientaichinh@hvtc.edu.vn

- Websitehttp://www.hvtc.edu.vn

- Mission: Providing expertise for scientific research and training activities in finance and accounting

- Vision: By 2030, the Academy of Finance aims to become one of the top five multidisciplinary higher education institutions in Vietnam, integrating fundamental research, applied research, and technology transfer in the fields of Economics, Finance, Banking, Accounting, Auditing, Management, Information Technology, and Economic Law. By 2045, the goal is to elevate the Academy of Finance to be among the top 100 higher education institutions in Asia and one of the top 1,000 higher education institutions globally, based on international ranking standards.

- Core value: Quality - Prestige - Effectiveness - Professionalism - Modernity

- Philosophy of education: Global citizens in a changing world.

- Strategic objectives: "Building and developing the Financial Academy into a leading training and research center in Economics, Finance, and Accounting in Vietnam, with a reputable standing in the region."

II. Duties

- Training undergraduate and graduate students in finance, accounting, business administration, languages and informatics. We are providing four major training options for students (full-time, part-time, second-degree and top-up)

- Doing research and building management capacity in finance, accounting, and business administration sector. Providing financial and accounting expertise for the sector and for the government

- Providing training and management services

- Capacity building according to titles, professions, tasks and management techniques in finance and accounting.

III. A brief history of the Academy of Finance

1. The establishment and development of AOF

The Prime Minister of Vietnam approved the Decision 120/QD-TTG dated August 17th 2001 on merging three institutions under the Ministry of Finance of Vietnam namely: Hanoi University of Finance and Accounting (formerly known as the Central School of Finance, Accounting and Banking which was renamed to Hanoi University of Finance and Accounting in 1976), Institute of Finance (which was established in 1960), and Financial Training Center (established in 1996).

The AOF discharges the functions of undergraduate and graduate training in economics, finance, accounting, business administration, languages and informatics. We are offering options of full-time, part-time, second-degree and top-up courses; conducting regular researches and management capacity building activities in finance, accounting and business administration for the government; delivering training and management services; capacity building and skills developing according to standards.

At present, there have been more than 300 doctors, 5,000 masters, 150,000 bachelors in Vietnam and approximately 500 international students from Laos and Cambodia graduated from AOF. Thousands of them are holding important positions and responsibilities in the Communist Party, government, ministries and subnational authorities.

We have been granted honorable prizes from the Government of Vietnam, the Communist Party of Vietnam and the Government of Laos for significant training and research achievements such as:

- Ho Chi Minh Medal 2013

- The First, Second and Third Class Labor Medal

- The First Class Labor Medal in 2018

- The First, Second and Third Class Independence Medal

- The First, Second and Third Class Issara awarded by the Government of Laos.

2. Organization

There are 14 faculties, 12 departments and 05 administration units under the AOF with the total number of staff being 633 (by December 31st 2022), including 423 lecturers, 210 managerial staffs.

Among the total number of staff are 02 professors, 48 associate professors, and 162 doctors. We also have 04 People’s Teachers and 11 Meritorious Teachers.

3. Development orientation 2020-2025 and vision to 2035

- In the process of globalization and the advent of Industry 4.0, the AOF Management Board sets out following major development directions:

- Intensively develop training and research performance, maximize the core values to adapt to the emerging demands of the intellectual economy and Industry 4.0.

- Diversify training courses, renovate academic management measures, improve the professional capacity, and improve self-study spirit with creativity and experience.

- Improve the research capacity in the manner that harmonizes fundamental studies with applied studies.

- Actively and comprehensively integrate into regionalization and globalization process regarding training, capacity building and research activities.

- Conduct academic management reform in close relation to financial autonomy and social accountability, create a new academic environment with high openness, creativity and internationalism, continuously attract excellent staffs and scholars to work and do research at AOF.

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