Policy groups in Law on Public Investment specified
The amendments to the draft Law on Public Investment (amended) specify five major policy groups, deeply reflecting the spirit of breakthrough, reform, and decentralisation of power advocated by the Party Central Party, the Politburo, the National Assembly, and the Government.
Minister of Planning and Investment Nguyen Chi Dung made the statement at the ongoing 8th session of the National Assembly in Hanoi on October 29.
The draft law has been hailed by ministries, sectors, localities, international organisations, and foreign donors, particularly in terms of fundamentally addressing existing issues, limitations, and bottlenecks arising in the implementation of the 2019 Law on Public Investment, he said.
The regulations on decentralisation and delegation of authority ensure clarity in roles, tasks, and responsibilities, making it easier to monitor, supervise, and evaluate the work, meeting the requirements for managing and using public investment resources to implement the three strategic breakthroughs, particularly in infrastructure development, he noted.
According to the minister, the major policy groups specified include institutionalising mechanisms and pilot and specific policies that have been authorised by the legislature; promoting decentralisation and delegation of authority; improving the quality of investment preparation, resource and ability mobilisation to implement public investment projects of localities and State-owned enterprises; promoting the implementation and disbursement of official development assistance (ODA) funding and concessional loans from foreign donors (foreign capital); and simplifying procedures, and adding and clarifying concepts, terms, and regulations to ensure the consistency and coherence of the legal system.
