During a reception in Hanoi on February 13 for Prof. John D. Graham, Rector of the Indiana University School of Public and Environmental Affairs, Hien lauded the visit, initiated by the Vietnam Initiative Group – a network of Vietnamese scholars worldwide in the fields of economy, finance and policy.
He hoped that the guest would share his experience in public policy and evaluation of draft laws regarding finance and budget, as well as discuss the Vietnam-US ties after President Donald Trump takes office during dialogues and discussions with the Foreign Ministry and the NA’s agencies.
Graham, for his part, said his visit is meant to share the US and Organisation for Economic Cooperation and Development (OECD) member countries’ experience in assessing draft laws, budget and policies with Vietnam, contributing to fine-tuning Vietnam’s finance-budget policies, including those not using the State budget.
In the afternoon the same day, the NA’s Commission on Finance and Budget held a seminar featuring appraisal system for draft laws, budget and policies of the US and OECD member states under the co-chair of Nguyen Duc Hai, head of the commission, and Prof. Graham.
The US professor introduced Regulatory Impact Analysis approaches taken by the US and the European Union (EU).
According to him, the US mainly uses cost benefit analysis while the EU takes the multi-criteria analysis when it comes to evaluating different policy options to improve government decision-making.
Hai hailed Graham’s presentation as an invaluable lesson for Vietnam in the process of refining finance and budget-related policies and laws.