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NA panel to supervise management of foreign loans

Update: September, 01/2017 - 09:00
The Tân Vũ - Lạch Huyện Highway in the northern port city of Hải Phòng. The project has investment of almost VNĐ11.85 trillion (US$525.3 million), of which the majority was funded with Japanese official development assistance. — VNA/VNS Photo Huy Hùng
Viet Nam News

HÀ NỘI — A delegation of lawmakers will supervise the implementation of laws and policies on the management and use of foreign loans.

The delegation was set up under a resolution issued by the National Assembly Standing Committee. It will evaluate the issuance of legal documents and the implementation of policies and regulations relevant to the management and use of foreign loans.

Nguyễn Đức Hải, a member of the NA Standing Committee and chairman of the NA’s Financial and Budget Committee, is leading the delegation.

The lawmakers will review results, shortcomings and difficulties as well as defining the responsibilities of agencies, organisations and individuals.

After that, they will issue measures to organise the implementation on laws and policies on the management and use of foreign loans in the future and relevant policies and regulations as well.

Regarding the subject of supervision, the resolution states that the Government and the Prime Minister will have to report the issuance of legal documents, the implementation of policies and regulations, and the management and use of foreign loans.

Meanwhile, ministries, sectors, agencies, organisations and individuals, who are relevant to this area, are also on the list.

In localities, people’s councils, the people’s committees and major cities including Hà Nội, HCM City, Hải Phòng, Đà Nẵng and Cần Thơ will outline specific contents under their responsibilities.

The resolution will have three contents for supervision, including the issuance of legal documents on the management and use of foreign loans; the real management and use of foreign loans; and the implementation of proposals recommended by relevant inspecting and auditing agencies.

The supervision results will be reported to the NA Standing Committee at a session in August, 2018, and sent to NA delegates at the committee’s sixth session, which will take place at the end of 2018. — VNS

 

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