CLMV parliaments share experiences in public investment supervision

08:45 | 14/03/2017 Events

The parliaments of Cambodia, Laos, Myanmar and Vietnam (CLMV), have shared experience in monitoring and managing State budget and public investment during a conference in Phnom Penh on March 13.

The Vietnamese delegation at the conference (Photo: VNA)

Addressing the opening, Cambodian National Assembly (NA) leader Heng Samrin said that the event is a chance for the legislative bodies of the four countries to exchange ideas and seek a strategic plan as well as suitable policies to ensure the use of State budget and public investment in an effective, transparent and responsible manner.

He highlighted the importance of enhancing the supervising role of the NA, inspectors as well as the stronger engagement of people in the field.

The conference is also a chance to foster traditional friendship and cooperation among the four countries, contributing to maintaining peace and stability in each country as well as the region and the world, he stated.

Vice Chairman of the Vietnam’s NA Financial-Budget Committee Nguyen Huu Toan shared that supervision activities of Vietnam’s NA on public investment have been implemented through diverse forms such as thematic supervision, the verification of the Government’s reports and the organisation of question-and-answer sessions.

The activities focus on urgent matters that draw public attention such as the implementation of the Law on Thrift Practice and Wastefulness Prevention, the Law on Public Investment, the Law on the State Budget, as well as the allocation and use of the State budget and the national target programmes on climate change and building new-style rural areas, and Sate-invested projects, he said.

Toan also underscored that the committee has proposed the NA approve a resolution on a five-year financial plan and a medium-term public investment for the 2016-2020 period, in addition to the reformation of the balancing and distributing of public investment, ensuring the initiative of ministries, sectors and localities.

This will also create an important legal framework for the NA to improve the effectiveness of supervising the process of allocating and using annual and medium-term investment each year.

During the two-day conference, participants will also discuss measures to enhance the management of State budget and public investment, while sharing experience in State audit, and reviewing the outcomes of the previous conference in Da Nang and mapping out cooperation plans in the future.