Major goals of thrift practice against waste

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This program is implemented by the Ministry of Finance in all fields under the management of the Ministry, with the objectives of improving saving efficiency and combating waste in order to maximize all resources to fulfill growth goals and socio-economic development.

Focus on six key areas

According to the Program on thrift practice and anti-waste in the 2021-2025 period, the Ministry of Finance focuses on six key areas including management and use of recurrent expenditures of the state budget; management and use of public investment capital; management and use of public property; managing off-budget state financial funds; management and use of capital and assets of the State in enterprises as well as in management, use of labor and working time in the whole industry.

Regarding to thrift practice and anti-wastefulness in management and use of recurrent expenditures of the state budget, the Ministry of Finance determined to continue promoting strict management and saving of state budget expenditures to reduce the proportion of recurrent expenditures, contributing to the restructuring of state budget expenditures; strictly implement financial - state budget discipline, strengthen inspection, supervision and publicity and transparency in the use of state budget; thoroughly save the recurrent expenditures assigned by the state budget; practice thrift in management, use of funding for scientific research, do not propose or approve scientific research topics with duplicate content, lack of feasibility, funding sources for implementation have not been identified.

For the practice of thrift and combating waste in the management and use of public investment capital, the Ministry of Finance clearly stipulates the performance targets. Besides requesting the units to comply, strictly observe and effectively implement the provisions of the Law on Public Investment No. 39/2019/QH14 dated June 13, 2019, the Government's Decrees and other documents the implementation guide, the Ministry of Finance requires the implementation of savings from the formulation and approval of investment policies; only decide on investment policies for projects that are effective and suitable to the ability to balance public investment capital; ensuring that 100% of public investment projects have all procedures in accordance with the provisions of the Law on Public Investment.

Along with that, it is necessary to ensure the annual allocation of state budget investment capital in accordance with the provisions of the Law on Public Investment and Resolution No. 973/2020/UBTVQH14 of the National Assembly Standing Committee, Resolution No. 29/2021/QH15 of the National Assembly and Decision No. 26/2020/QD-TTg of the Prime Minister; prioritizing payment of outstanding loans for capital construction, recovery of advance capital and reciprocal capital for projects funded by ODA, concessional loans from foreign donors, and state investment capital participating in the implementation. projects in the form of public-private partnership; allocating capital to complete projects in the medium-term public investment plan, ensuring the prescribed time, prioritizing allocating capital for projects of national importance. After allocating capital, it must ensure the progress of projects, if there are new sources, arrange for new construction projects.

The Ministry of Finance also requested the advance and payment of investment capital in accordance with the State's regulations to ensure the project implementation schedule and disbursement deadline and use capital effectively. At the same time, the units must review projects that last for many years with low investment efficiency to get a handle; take measures to refund advances that are overdue, lasting for many years, and the management unit has been dissolved.

Avoid loss of revenue in the equitization of SOEs

For thrift and anti-waste practices in the management of non-budget state financial funds, the Ministry of Finance requested to step up the review, arrangement and strengthen the management of funds according to regulations, improve the efficiency of funding activities. At the same time, the unit should review relevant legal documents on the management and use of off-budget state financial funds to amend, supplement and abolish them according to their competence. Along with that, increase publicity and transparency in the management and use of off-budget state financial funds.

Regarding the solution to this target, the Ministry of Finance determined to strengthen the management, inspection, examination, audit and supervision of activities of non-budget financial funds; strictly implement the reporting and publicity regime in the development and implementation of financial plans of off-budget state financial funds in accordance with the 2015 Law on State Budget and relevant legal documents.

In the management and use of State capital and assets in enterprises, the Ministry of Finance requested affiliated enterprises to thoroughly save energy, materials and input costs; application of new technology to improve the quality and competitiveness of goods, save production and business costs, in which, minimize advertising, marketing, commission, payment discount costs. In addition, enterprises must summarize, evaluate and focus on completing the objectives of equitization and divestment of state capital in accordance with the roadmap and provisions of the law. The determination of the value of land use rights into the value of the equitized enterprise must strictly comply with the law on land, the law on equitization of SOEs, ensure the correct calculation of the value of land use rights in the value of the equitized enterprise, and avoid loss of revenue to the state budget.