The National Assembly Economic Committee reviews the draft law on Public Investment.
On the morning of August 29, in Hanoi, the National Assembly's Economic Committee held an expanded meeting to review the draft Law on Public Investment.
Based on the opinions of the delegates at the meeting, the Economic Committee of the National Assembly will prepare a preliminary review report to be submitted to the Standing Committee of the National Assembly for consideration and comments at the 21st session (September this year).
According to the Government's Submission presented by Minister of Planning and Investment Bui Quang Vinh, the Law on Public Investment is structured into 6 Chapters and 74 Articles. The draft Law regulates the unified management and use of public investment capital from the stage of determining investment policies; approving projects; principles of capital allocation; conditions for programs and projects to be allocated plans; procedures; investment planning; organization of plan implementation; monitoring, evaluation, inspection, examination, and supervision of investment programs and projects using public investment capital of all levels and sectors.
At the same time, the draft law also clearly stipulates the powers and responsibilities of the National Assembly, the Government, State management agencies at all levels, organizations and individuals managing and using public investment capital; sanctions for violations...
Delegates assessed that the draft Law on Public Investment was carefully drafted, on the basis of inheriting and perfecting the provisions in current legal documents on public investment management. However, the drafting committee needs to continue to review and consider the relationship of the draft law with other laws to "cover the entire" public investment system, overcome weaknesses, prevent loss and waste, and use State investment capital for the right purposes and effectively.
Regarding the scope of the law, the delegates basically agreed with the Government's Proposal, which stipulates the entire process of managing and using public investment capital from the State budget, national bonds, Government bonds, local government bonds, official development assistance (ODA) capital, preferential loans from donors, State development investment credit and other investment capital of the State budget nature, loans from local budgets to invest in the construction of infrastructure works. Particularly, investment capital from the State enterprise sector is expected to be regulated in the Law on Management and Use of State Capital for Investment in Production and Business, drafted by the Ministry of Finance.
Concerning the regulations on the authority and responsibility of ministries, branches, organizations and individuals in the management and use of public investment capital, opinions all agree that the draft law does not clearly stipulate sanctions for violations. Delegate Lo Van Muon pointed out the current situation that many investment projects have been completed but have not yet been settled while new settlements are still approved every year. This issue needs to be considered to resolve. How is the handling of responsibilities of ministries, branches and individuals regulated? The law needs to have regulations to promote and connect other laws in the settlement of the budget.
Delegate Cao Sy Kiem also said that it is necessary to clarify the responsibilities and powers of each collective and individual in planning, approving projects, inspecting, controlling, and handling acts that cause losses in public investment right in the law. This is one of the limitations of public investment management in the past. Solving this problem will be the key point for effective implementation of the law. Agreeing with the above opinion, delegate Bui Van Phuong suggested that the draft law should have content stipulating the powers, tasks, and handling of responsibilities if there are errors of individuals right from the project approval stage to be effective and efficient in implementation, avoiding loss and waste.
Regarding the public investment project program, delegate Tran Xuan Hoa expressed his opinion: The public investment project program in terms of content must be a part of the socio-economic development strategy and regional development planning. In terms of form, it is a step in the planning process of the economy and the territory established on the basis of the 5-year socio-economic development strategy and regional development planning.
Mr. Tran Xuan Hoa said that to realize the objectives of the Development Planning Strategy, within the scope of public investment planning in general, the public investment program is the first step that needs to be established. Based on the approved public investment program, based on the list of investment projects and the progress of the investment program implementation, the next step is to establish a public investment project.
An investment project is a unified, synchronous entity, in which the project implementation progress is an important content. Because to be approved, the project must ensure that there are sufficient capital sources for implementation. Therefore, the project implementation progress only depends on the requirements on the project's operational deadline and the construction capability. An approved project progress means that all aspects of the requirements on the project's operational deadline, construction capability, capital security and socio-economic efficiency have been taken into account...
In the afternoon, the Standing Committee of the National Assembly's Economic Committee will conduct a preliminary review of the draft Bankruptcy Law (amended)./.
According to VNA - LT
