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CLMV parliaments share public investment supervising

PHNOM PENH (Vietnam News) -- The parliaments of Cambodia, Laos, Myanmar and Vietnam, discussed monitoring and managing State budgets and public investment during a conference in Phnom Penh on Monday.

Vietnamese delegation at a meeting between parliaments of Cambodia, Laos, Myanmar and Vietnam in Phnom Penh on Monday.

Addressing the conference, Cambodian National Assembly (NA) leader Heng Samrin said that the event was a chance for the legislative bodies to exchange ideas and seek a strategic plan and policies to ensure State budgets and public investment are used in an effective, transparent and responsible manner.

He highlighted the importance of enhancing the supervising role of the NA and inspectors as well as stronger engagement of the public in the field. The conference was also a chance to foster friendship among the four countries, contributing to maintaining peace and stability in each country, the region and the world, he said.

Vice Chairman of the Vietnam's NA Finance-Budget Committee Nguyen Huu Toan said that Vietnam's NA supervision of public investment was implemented in diverse forms, including thematic supervision, verification of Government reports and question-and-answer sessions.

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

Toan underscored that the committee has asked the NA to approve a resolution on a five-year financial plan and a medium-term public investment for 2016-2020, and called for reforms in distributing public investment.

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

During the two-day conference, participants also discussed measures to improve management of the State budget and public investment, while sharing experience in State auditing, and reviewing the outcomes of the previous conference in Da Nang and devising future co-operation plans.

  (Latest Update March 16, 2017)

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