PHNOM PENH — The parliaments of Cambodia, Laos, Myanmar and Viet Nam (CLMV) shared experiences in monitoring and managing State budget and public investment during a conference in Phnom Penh on Monday.

Addressing delegates at the launch of the conference, Cambodian National Assembly (NA) leader Heng Samrin said the event was an opportunity for the legislative bodies of the four countries to exchange ideas and seek a strategic plan and policies to ensure the use of State budget and public investment in an effective, transparent and responsible manner.

He highlighted the importance of enhancing the supervising role of the NA and inspectors and the need for stronger engagement of people in the field.

The conference was also a chance to foster traditional friendship and co-operation among the four countries, contributing to maintaining peace and stability in each country, the region and the world, he stated.

Nguyễn Hữu Toàn, vice chairman of the Việt Nam’s NA Financial-Budget Committee, said supervision activities of Việt Nam’s NA on public investment had been implemented through diverse forms, such as thematic supervision, verification of the Government’s reports and by organising question-and-answer sessions.

The activities focused on urgent matters that drew public attention, such as the implementation of the Law on Thrift Practice and Wastefulness Prevention, Law on Public Investment and Law on State Budget; allocation and use of the State budget and national target programmes for climate change and new-style rural construction; and State-invested projects, he said.

Toàn also said the committee had proposed to the NA to approve a resolution on a five-year financial plan and medium-term public investment for the 2016-20 period, and the reform of the balancing and distribution of public investment, ensuring the engagement of ministries, sectors and localities.

This, he said, would also create an important legal framework for the NA to improve the effectiveness of the supervision process of allocating and using annual and medium-term investment each year.

During the two-day conference, participants will also discuss measures to better State budget and public investment management, share experiences from lessons learned on State audit, review the outcome of the previous conference in Đà Nẵng and map out co-operation plans for the future. — VNS