Ministry of Finance Vietnam and IBM Reaffirm Commitment to the "Treasury and Budget Management Information System" (TABMIS) Project

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HANOI, VIETNAM - 24 Oct 2006: The Ministry of Finance (MOF) and IBM (NYSE: IBM) reaffirmed each other's commitment to the Treasury & Budget Management Information System (TABMIS) project at an executive briefing to government users on 17 October 2006. Teams from both organizations reported on the progress of the "Treasury and Budget Management Information System" (TABMIS) project to date.

The TABMIS project, inked in December 2006, a deal worth US$49 million and funded by the World Bank is set to reform the Vietnamese financial and budget management system to enhance its performance measurement and standardize its financial control mechanisms.

MOF affirmed that TABMIS is the cornerstone of the Vietnamese government's financial management reform plan. It will integrate and centralize the financial management systems into a single information system to improve the transparency and accountability of public financial management, therefore to support the decision making and governance of the government of Vietnam.

Krishna Giri, Partner, Public Sector Leader, ASEAN/South Asia, IBM Global Business Services, said, "IBM is very proud to embark on leading the transformation and implementation of this important project along with MOF, Oracle and The Corporation for Financing and Promoting Technology (FPT) Business Partners. Between MOF, IBM and our project partners, we have marshaled the best team with deep industry insights and first hand experience of implementing new financial system for many governments. We are well positioned to help the Ministry of Finance, Vietnam, to transform and modernize its financial management system. With strong sponsorship and commitment from MOF, I am confident TABMIS will be operational in pilot sites from April 2008."

The State Treasury of Vietnam, key stakeholder of TABMIS, has been and will be working closely with vendors during the implementation of the project. Under the supervision of MOF together with strong commitments of concerned parties, it is believed that TABMIS will go-live as scheduled.

TABMIS is a turn-key, integrated Commercial-Off-the-Shelf Software Solution and Hardware Platform to be used at all levels of government (central, provincial and district) throughout Vietnam, at three levels of central, provincial/municipal and district.

TABMIS will link the Central State Treasury to the provincial and district financial offices and different ministries to support the efficient use of resources and drive a sustainable growth strategy upon completion.

IBM is the primary partner providing consulting services, hardware, software and support services. FPT and Oracle are secondary contractors who implement the system integration of the project.

For more information about MOF, please go to:

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