Major objectives for thrift practice, waste combat of Ministry of Finance

	Reducing the total number of public investment projects in the 2021-2025 period to less than 5,000
	MoF implements measures for thrift practice and waste combat
	The master programme of the Government focuses on thrift practice and waste combat in 2021

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Focus on six key areas

According to the program on thrift practice and waste combat in the 2021-2025 period, the Ministry of Finance has focused on six key areas: management and use of funds for recurrent expenditures of the state budget; management and use of public investment capital; management and use of public properties; management of off-budget state financial funds; management and use of State capital and assets of the State in enterprises as well as management, use of labor and working time in the whole sector.

For thrift practice and waste combat in management and use of funds for recurrent expenditures, the Ministry of Finance has determined to further promote strict management and saving of state budget expenditures to reduce recurrent expenditures; contributing to the restructuring of state budget spending; strictly implemented State financial - budget discipline, strengthened inspection, supervision and transparency in the use of the state budget, especially in areas prone to loss and waste; thoroughly saved recurrent expenditures assigned by the state budget; save scientific research funds and not proposed or approved scientific research projects which have duplicate content, a lack of feasibility and unclear funding.

For the practice of thrift and waste combat in the management and use of public investment capital, the Ministry clearly stipulates targets. In addition to requesting units to strictly abide by the provisions of the Law on Public Investment 39/2019/QH14 dated June 13, 2019, the Government's Decrees and other guiding documents, the Ministry of Finance requires thrift practice from building to the approval of investment policies; only approve investment policies for projects that are effective and suitable to the ability to balance public investment capital; ensure that 100% of public investment projects have undergone all procedures in accordance with the provisions of the Law on Public Investment.

Moreover, the ministry has ensured annual allocation of state budget investment capital in accordance with the provisions of the Law on Public Investment and Resolution 973/2020/UBTVQH14 of the National Assembly Standing Committee, Resolution 29/2021/QH15 of the National Assembly and Decision 26/2020/QD-TTg of the Prime Minister; prioritized 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 in the form of public-private partnerships; allocated capital to complete projects in the medium-term public investment plan, and prioritized capital for national importance and allocated new projects if there is funds available.

The Ministry of Finance has also required the advance and payment of investment capital in accordance with the State’s regulations to ensure the project schedule, disbursement deadline and effective use of capital.

At the same time, the ministry has reviewed projects that have been delayed for many years with low investment efficiency; and developed measures to refund advances that are overdue, last for many years, and of which the management unit has been dissolved.

Avoid loss of revenue in SOE equitization

For thrift practice and waste combat in the management of off-budget state financial funds, the ministry has requested to step up the review, arrangement and strengthen the management of the funds, improve the efficiency of the funds, and review relevant legal documents on the management and use of off-budget state financial funds to amend, supplement and abolish according to their competence.

Along with that, the ministry has required to enhance publicity and transparency in the management and use of the funds.

Regarding the solution, the ministry determined to strengthen the management, inspection, audit and supervision of activities of off-budget financial funds; strictly implement the reporting and publicity regime in the development and implementation of financial plans of these funds in accordance with the provisions of the 2015 State Budget Law and relevant legal documents.

In the management and use of State capital and assets in enterprises, the Ministry of Finance requires affiliated enterprises to thoroughly save energy, materials and input costs; apply new technologies to improve the quality and competitiveness of goods, save production and business costs, in which, minimize costs for advertising, marketing, commissions, and payment discounts and meetings.

In addition, enterprises must review, evaluate and focus on completing the objectives of equitization and divestment of state capital in accordance with the roadmap and provisions of the law.

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