Quang Nam Finance Industry

LAO 1 FINANCE STATEMENT — Scene of the working session between the Quang Nam Department of Finance and the delegation of the Sekong Provincial Department of Finance. Photo: HQ

Talking to the delegation, Mr. Dang Phong - Director of the Department of Finance informed about the outstanding achievements of Quang Nam in recent times and reviewed some highlights in the friendly and cooperative relationship between Quang Nam - Se Kong in general and the financial sector of the two provinces in particular.

Regarding financial work, Mr. Dang Phong said that in 2023, the state budget revenue in the province will reach VND 25,077 billion/VND 26,680 billion (reaching 94% of the estimate). Regarding budget expenditure, in 2023, the province will spend VND 22,000 billion/VND 21,225 billion (reaching 103.7% of the estimate).

FINANCE LAO 6 — Mr. Dang Phong - Director of Quang Nam Department of Finance (right cover) informed about the state budget revenue and expenditure in recent times. Photo: HQ

To manage investment finance, units in the industry focus on examining and approving the final accounts of completed projects and works, avoiding backlogs to have a basis for promoting the disbursement of public investment capital.

At the same time, urge the recovery of payment amounts exceeding the approved settlement value of completed items, projects and works; monitor and urge the recovery of payment amounts exceeding the approved settlement value; promptly appraise investment capital sources for investment projects in the province. By the end of 2023, Quang Nam will manage loans and repay loans for 7 projects, with a total loan capital of VND 1,037 billion.

FINANCE LAO 5 — Financial leaders of the two provinces exchanged experiences in budget management. Photo: HQ

Regarding Sekong's budget revenue, Mr. Khammu Oonmani - Director of Sekong Provincial Finance Department said that in the first 7 months of 2024, the province collected 289.19 billion kip (reaching 96.91% of the annual plan). In general, in 2022, 2023 and the first 7 months of 2024, Sekong province's budget revenue increased dramatically compared to the previous period.

At the meeting, leaders of the financial sector of the two provinces focused on discussing and exchanging experiences related to budget work, state asset management, accounting management, inspection, tax, customs, and treasury. At the same time, they shared solutions for budget management during the period when the world, region and domestic socio-economic situation faced many difficulties, import and export activities were affected, fuel and material prices increased...

FINANCE LAO 4 — Leaders of Quang Nam's professional sector answered questions from the delegation of Sekong Province's Department of Finance. Photo: HQ

Mr. Kham-hu Oon-ma-ni said that the visit, meeting and exchange of experiences on financial issues in Quang Nam aimed to consolidate and strengthen the comprehensive cooperation relationship between Sekong and Quang Nam in general and the financial sector in particular; he hoped that Sekong's financial work would receive support in terms of technical equipment and human resource training.

On this occasion, the Department of Finance of Quang Nam and the Department of Finance of Sekong province signed a memorandum of understanding on friendly cooperation in the financial field.