The draft law has been hailed by ministries, sectors, localities, international organizations, and foreign donors, particularly in terms of fundamentally addressing existing issues, limitations, and bottlenecks arising in the implementation of the Law on Public Investment 2019. The regulations on the decentralization 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.

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A view of the session

According to Minister of Planning and Investment Nguyen Chi Dung, the major policy groups specified included institutionalizing mechanisms and pilot and specific policies that have been authorized by the N.A.; promoting decentralization and delegation of authority; improving the quality of investment preparation, resources, and ability mobilization 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.

In their afternoon, the legislators discussed a draft law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under Public-Private Partnership (PPP), and the Law on Bidding.

Minister Dung stated that the bill aims to promptly address urgent institutional challenges, simplify administrative procedures, and promote the decentralization and delegation in the areas of planning, business and investment, PPP investment, and bidding.

Source: VNA