Launch of the Public Financial Management Consultancy and Analysis Program

	Many stocks face the risk of being forced to leave the stock exchange
	Applying corporate finance mechanism: Opportunities for public service delivery agencies
	Member of the Party Central Committee, Minister of Finance Dinh Tien Dung: The financial sector is breaking through to transform itself

Minister Dinh Tien Dung together with representatives of cooperation agencies. Photo: TL.

Attending the ceremony were the presence of the World Bank Country Director in Viet Nam, the Swiss Ambassador to Vietnam, the Canadian Ambassador to Vietnam and representatives from ministries, industries and other partners.

At the opening of the ceremony, the Minister of Finance Dinh Tien Dung said, in recent years, the situation in the world and the area was complicated and unpredictable. Accordingly, conflicts occur in many place and the world economy is forecast to recover faster but still has many risks. In addition, Vietnam is a low middle-income country, so the access and mobilization of preferential loans will gradually decrease. In that context, the Ministry of Finance has co-ordinated with the World Bank, the Swiss Government and the Government of Canada to develop an AAA Program aimed at enhancing the positive role of public financial management system in order to improve the efficiency and effectiveness of public expenditure and the quality of public services based on the Government's strategic objectives. The AAA program focuses on supporting the reform of the State Budget, which is one of the important and urgent reforms that need to be implemented in accordance with the Financial Strategy until 2020.

"I am pleased to announce that, to date, the procedures for approving the AAA project have been completed to transfer the program to the implementation phase from now to the end of 2020. I suggest that AAA Program Management Units, functional units of the Ministry of Finance, technical levels of the World Bank and donors should be active, work hard and coordinate to implement the AAA Program effectively according to the target and plan", the Minister said.

At the ceremony, WB Country Director Ousmane Dione said that WB is a reliable strategic partner of Vietnam, sharing knowledge and experience for the country's economic development strategy. Due to the rapid and open development of the Vietnamese economy, there are many challenges to the management. Therefore, the reform of public financial policy plays an important role in the strategy of economic development.

"We believe the AAA program will play a very important role for better budget execution and reporting as well as better monitoring of budgetary risk", the WB representative said.

The Swiss Ambassador to Vietnam and the Canadian Ambassador to Vietnam also expressed their support for the Swiss Government and the Government of Canada, and hoped that the program would achieve positive results in the process of Vietnam’s reform of public financial management.

Mr. Nguyen Ba Toan, Deputy Manager of AAA Program Management said that one of the key contents of the Government's Financial Sector Development Strategy to 2020 was to improve efficiency of public expenditure and allocation of State budget expenditures.

Thus, in recent years, the Ministry of Finance has attempted to implement important reforms to focus on improving public expenditure, increasing transparency of public expenditure and improving the quality of public services. Supporting the reform process, from 2014, commissioned by the Swiss Federal Bureau of Economic Affairs and the Canadian Ministry of Global Affairs, the World Bank in Vietnam has coordinated with the Ministry of Finance to develop anew cooperation program - Public Finance Management Consultancy and Analysis Program in Vietnam (AAA program).

The process of developing the Program has been conducted and implemented quickly, and continuously to carry out the steps of exchange, agreement, submission with competent authorities for consideration and approval.

Accordingly, on the Vietnamese side, on the basis of the Investment Decision of the Prime Minister, the Minister of Finance issued Decision No. 2804 / QD-BTC dated 28 December 2016 on investment in the Program AAA. On 14 December 2017, the Governor of the State Bank of Vietnam, representing the Socialist Republic of Vietnam signed the financing agreement for the Program. On 27 February 2018, on the basis of the President's approval, the Ministry of Foreign Affairs announced the funding agreement for the official program to take effect. Accordingly, the AAA program will be implemented from now to 31 December 2020.

Financial authorities of Dien Bien province should continue to overcome difficulty and promote discipline VCN- On the afternoon of 13 March 2018, during the visit to Dien Bien, the mission of ...

With the above-mentioned reform agenda, the AAA Program has two main objectives: to support the capacity building of law enforcement agencies in planning, implementing and monitoring implementation, and to improve the planning, implementation, and accountability of the budget; providing empirical analysis of the efficiency and effectiveness of major public finance reforms at central and local level.