Building scenarios on budget resources to implement the Capital Law 2024

On June 28, 2024, the National Assembly passed the Law on the Capital (amended), consisting of 7 chapters with 54 articles, clearly defining the position and role of the Capital; policies and responsibilities for building, developing, managing and protecting the Capital. The Law takes effect from January 1, 2025, except for some contents that take effect from July 1, 2025.

Immediately after that, Hanoi proactively issued Plan 225/KH-UBND dated July 22, 2024 on implementing the Capital Law. In particular, focusing on a number of key tasks such as: propagating, disseminating, thoroughly implementing the law; implementing the development of policies to concretize the Capital Law.

Removing obstacles and bottlenecks in mobilizing financial resources

According to the report of the Hanoi Department of Finance, in Plan No. 225/KH-UBND dated, the City People's Committee assigned the Department of Finance to take the lead in advising on detailed regulations for 5 contents and planned to coordinate and participate in the remaining 91 contents to be advised by other departments and branches. After reviewing, the Department of Finance basically agreed on the 5 assigned contents, except for the task of advising on assets donated, given, donated, contributed, aided, and sponsored by domestic and foreign organizations and individuals (1 of 3 tasks in content No. 49, Appendix 2).

In the past time, the Department has had many documents giving opinions and proposals on mechanisms and policies in the construction of the Law on the Capital, especially the policies on finance, budget and resource mobilization for the development of the Capital in Articles 34, 35, 41, which have partly removed the difficulties and bottlenecks in mobilizing financial resources, using financial resources for the development of the Capital; and in managing, using and improving the efficiency of exploiting public assets at public service units of the Capital.

Regarding the progress of implementing the tasks of the Department of Finance, before the City issued Plan No. 225/KH-UBND on implementing the Capital Law, since April 2024, the Department of Finance has established a Steering Committee and Working Group to assign the implementation of the Department's tasks; specifically assign departments to perform the tasks of taking the lead in developing policies, the task of coordinating with departments and branches to advise on resources, etc.

Up to now, the draft policies developed by the Department of Finance have been discussed many times among the departments and units under the Department, in the Working Group and the Steering Committee of the Department. At the same time, the Department of Finance has compiled the funding needs to implement the policies proposed by the Department; is developing scenarios on budget resources to implement the Capital Law, and will soon report to the City People's Committee.

Develop policies to specifically implement the Capital Law

At the recent working session of the Standing Vice Chairman of the Hanoi People's Committee Le Hong Son with the Department of Finance on the implementation of Plan No. 225/KH-UBND, representatives of the City People's Council's committees, departments, and participating units contributed some opinions on the implementation of the Capital Law 2024 of the Department of Finance such as: advising the City People's Council and People's Committee on decentralization and authorization; service price standards...

Director of the Department of Finance Nguyen Xuan Luu received comments from delegates attending the conference and reported, proposing orientations for a number of contents on policies regulating the use of regular expenditure funds; regulations related to public assets; regulations on fees and charges; on spending levels for drafting documents, activities of the Working Group...; on resources for implementing the Law on the Capital; coordination with departments and branches in developing policies to increase income for officials and civil servants...

Permanent Vice Chairman of the Hanoi People's Committee Le Hong Son highly appreciated the sense of responsibility and quality in the process of building the Capital Law of the Department of Finance; the proactiveness and determination of the Department in implementing tasks before and after the promulgation of the Capital Law, which was reflected in the draft Resolution on public assets, joint venture franchises and the draft Decision of the City People's Committee on using regular expenditures to renovate and upgrade existing works; regular expenditures for planning work, etc.

In addition, Permanent Vice Chairman of Hanoi People's Committee Le Hong Son also requested the Department of Finance to continue promoting the sense of responsibility, proactiveness and creativity in advising the city to develop policies to implement the Capital Law chaired by the Department of Finance; advise on balancing budget resources; coordinate with departments and branches to develop policies... to ensure progress and quality according to the city's plan.

Source: https://kinhtedothi.vn/xay-dung-cac-kich-ban-ve-nguon-luc-ngan-sach-trien-khai-luat-thu-do-2024.html