Proposal to simplify the management, payment and settlement process of public investment

On July 3, the Ministry of Finance submitted to the Ministry of Justice for appraisal a draft Decree regulating the procedures for management, payment and settlement of public investment capital, with many innovative contents towards simplifying procedures, increasing autonomy, applying technology and shortening disbursement time.

Public investment projects will be accelerated with new procedures for management, payment and settlement.

According to the draft, many intermediate administrative procedures will be abolished, such as: requiring confirmation from the superior management agency for the capital payment request of the capital-using unit; not requiring the unit to re-submit the files and documents that have been fully updated on the public investment management information system; reducing the number of internal confirmation signatures (no need for many levels of internal confirmation, can switch to the authorization model by title or only need the person in charge to sign).

Another important change is to increase the use of electronic platforms, integrating with the public investment management information system and the budget and treasury management information system to synchronize data, limiting the need for multiple manual reports.

Along with that is the regulation of decentralization and clear delegation of authority (expanding the initiative for investors and the provincial State Treasury in confirming, controlling, and paying capital). The draft clearly states: "Research and amend the regulations in the direction of strong decentralization for investors to take responsibility for the legality and validity of payment request documents; the State Treasury shall control expenditures based on the documents provided by investors". Payment documents will also be standardized through the development of unified, clear forms and the elimination of duplicate documents.

In particular, a selective post-audit mechanism will be applied instead of a comprehensive pre-audit mechanism. Specifically, instead of checking each expenditure item before disbursement, the management agency will apply a selective post-audit mechanism, focusing on high-risk or high-value projects; while small and regular expenditures will be paid faster.

MR. PHUONG

Source: https://www.sggp.org.vn/de-xuat-don-gian-hoa-quy-trinh-quan-ly-thanh-toan-va-quyet-toan-dau-tu-cong-post802312.html