NA Vice Chairwoman Nguyen Thi Kim Ngan attends conference on improving supervision efficiency of Vietnamese, Lao and Cambodian parliaments in finance and budget sector
As part of a UN-funded project to strengthen the budget supervision capacity of people-elected agencies in Viet Nam , the conference aimed to realise a coordination programme between the Finance-Budget Committees, State Audit Offices and Finance Ministries of the three Indochinese countries.
In her opening speech, NA Vice Chairwoman Nguyen Thi Kim Ngan said the conference is a good chance for lawmakers from Viet Nam , Laos and Cambodia to exchange experience in State budget management, focusing on the fiscal policy and decentralised administration of State budget.
The conference will discuss coordination between NA agencies in State budget supervision activities, developing countries’ experience in State budget management and issues posed for the three nations, she said.
The NA Vice Chairwoman suggested delegates focus on exchanging reasons and solutions which have been applied in the three countries. The outcomes of the conference will be foundations for Vietnam to make amendments to its legal regulations on finance and budget in future, she added.
According to the Chairman of the Vietnamese NA Finance and Budget Committee Phung Quoc Hien, the improvement of the quality of finance and budget management and supervision will enhance the efficiency of investment, spending from the State budget and people’s taxes.
Thus, the three countries will have a suitable economic development orientation, helping to boost their comprehensive economic development and deeper integration, he said.
Souvanpheng Boupphannouvong, Chairman of the Lao NA Committee for Economy, Planning and Finance, emphasised the need to have closer and more continuous cooperative mechanisms between the three parliaments’ relevant committees in strengthening finance and budget supervision activities.
Sman Teath, Vice Chairman of the Committee of Economy, Finance, Banking and Audit of the Cambodian National Assembly, said the NA examination and supervision is one of the three important roles in ensuring a balance of resources towards the building of a law-governed state.
The legislative body must play an important role to ensure the effective, transparent, responsible and economical use of the national budget, he said.
The conference also focused on a modernisation orientation and challenges for the fiscal policy and decentralised administration of budget, coordination between the State Audit Office and NA agencies in State budget supervision activities, middle income trap as well as finance and budget management and supervision experience for developing countries./.
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