Legal basis needed to improve public investment: NA

10:06 | 17/11/2018
National Assembly (NA) deputies called for thorough examination and consideration of any impacts from the revised Law on Public Investment before any amendments are added.
legal basis needed to improve public investment na
National Assembly (NA) deputies called for thorough examination and consideration of any impacts from the revised Law on Public Investment before any amendments are added.-VNA/VNS Photo Phuong Hoa

During the sitting on Friday, the NA discussed the draft of the amended Law on Public Investment with the aim of removing existing hurdles that has slowed down the already unsatisfactory disbursement of public investment capital.

Deputy Vu Thi Luu Mai from Hanoi said "the law is an essential legal document which has direct impacts on the budget resources and national financial security but was so far short-lived". Just three years since it took effect, the law required revisions, she said.

"It should be noted that the law-compiling body must take into consideration the most pressing issues for any revisions. Any regulations that have not been thoroughly examined or are likely to prevent development shouldn’t be included in the revised law," Mai said.

Mai also called for a clarification of the limitations related to mechanisms, policies and legal institutions, and restrictions caused by people, adding that "it is necessary to listen to opinions from localities, especially donors and to adequately learn from international experiences."

Speaking of impacts of revised policies in the draft, deputy Hoang Quang Ham of Phu Tho, said a report assessing impacts of the policies only highlighted negatives of the 17 out of 18 policies that need to be amended and positive facets of the replacement of these 17 policies.

"Each policy has its own positive and negative facets. It is important to choose policies with more positive ones whilst identifying negative ones to mitigate [negative impacts]," Ham said.

Stay transparent

Deputy Hoang Van Cuong of Hanoi said public investment projects using public funds must publicise in detail their purpose and process.

"Current regulations detail 14 provisions on transparency in public investment but the provisions are quite general. It is necessary to publicise the whole dossiers of investment projects, excluding those related to national secrecy and security," said Cuong.

"The practice will stop any violations in the process of implementing projects, which will serve as crucial basis for the people, community, and Fatherland Front to exercise their right to supervision."

Agreeing with Cuong, deputy Nguyen Thi Kim Be of Kien Giang said transparency is needed in public investment management whilst supervision and inspection of the use of public investment capital must be strengthened to prevent waste and losses.

Deputy Mai Thi Anh Tuyet of An Giang pointed out a complex situation.

"Urgent projects implemented with simplified procedures facilitate the exploitation of loopholes," she said.

She explained that the law did not specify when stating that "urgent projects are implemented immediately and regulated by the Government" while in fact decisions on investment policies play an important role in promoting the effectiveness of investment.

Deputy Nguyen Hong Hai of Binh Thuan recommended that the maintenance and repair of transport works should be subject to public investment.

"Many transport projects are damaged and flooded as a result of climate change, intensifying possibilities of traffic accidents whilst Central and local funds for inland road maintenance only satisfy 55 per cent of actual demand. So, it is necessary to pour public investment into these projects."

VNA

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