Ensuring public disclosure and transparency for public investment activities in Vietnam

Specifically, according to Article 12 of the Law on Public Investment 2014 of Vietnam and Clause 2 Article 5 of the Law on amendments to some articles concerning planning of 11 laws in 2018, rules of public investment management include:

- Observe legal regulations on the management and use of the budget capital for public investment.

- Conform to socio-economic development strategy, five-year socio-economic development plan, socio-economic development planning and sectoral development planning.

- Exercise proper rights and responsibilities of State management agencies, organizations and individuals involved in the management and use of the budget capital for public investment.

- Manage the use of the budget capital for public investment according to appropriate regulations on each capital source; ensure sufficiency, consistency, cost efficiency, effectiveness and capability of balancing all relevant resources for public investment activities; avoid any possible loss and mismanagement.

- Ensure public disclosure and transparency for public investment activities.

- Encourage organizations and individuals to carry out direct investment or investment activities in the form of public-private partnership for socio-economic infrastructural and public utility development projects.

Contents of public investment management are specified in Article 13 of the Law on Public Investment 2014 of Vietnam, including:

- Issue and follow legislative documents about public investment.

- Design and implement the strategy, program, plan, planning, initiative and policy for public investment.

- Keep track of and provide information about the management and use of the budget capital for public investment.

- Evaluate the effectiveness of public investment activities; examine and inspect the compliance with legal regulations on public investment as well as plan or planning for public investment.

- Handle any violation, settle complaints or denunciations from organizations and individuals involved in public investment activities.

- Commend agencies, organizations, units and individuals that gain excellent achievements in public investment activities.

- Enter into international cooperation on public investment.

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