At the launching ceremony (Photo: VNA)
Hanoi (VNA) - The Ministry of Finance (MoF) launched an open budget portal at https://ckns.mof.gov.vn/ on August 26.
Built based on advanced models from around the world and Vietnam’srequirements for openness and transparency in public finances, it looks to improveefficiencies in the distribution, management, and utilisation of publicresources.
Itis also expected to help MoF compile reports on open budgets in a faster andmore accurate manner and keep a close watch on budget reports from ministries,State agencies, and localities.
Speakingat the launch ceremony, which was also part of the activities marking the 75th anniversaryof Vietnam’s financial sector, Minister of Finance Dinh Tien Dung underlinedthat the launch of the portal is of great importance to opennessand transparency in public finances.
Itis also the first step towards the implementation of the financial sector’sopen data portal, which will be linked with national portals.
Theportal is expected to provide individuals, businesses, researchers, and local andinternational organisations with useful data and information on public finances,thereby enhancing social accountability and the effective use of State budgetfunds, he added.
OperationsManager for the World Bank (WB) in Vietnam Stefanie Stallmeister voiced a beliefthat the new portal will improve openness and transparency and effectiveness inbalancing the budget, along with macro-economic management, risk awareness, andresponsibility in public service provision.
Theportal was built with support from the Vietnam Public Financial Management(PFM)’s Analytical and Advisory Assistance (AAA) Programme, and co-financed by theSwiss and Canadian Governments through the WB in 2016./.
