Vietnam State Audit Strengthens Local Coordination to Enhance Fiscal Discipline

On the afternoon of September 25, in Hanoi, the State Audit of Vietnam, in coordination with the Standing Committee of the City/Provincial Party Committee, the Standing Committee of the People's Council, and the People's Committee of Hanoi and Son La province, held a mid-term review conference on the implementation of the cooperation regulations between the State Audit and Hanoi city and Son La province for the period 2023-2026. The conference emphasized the strengthening of cooperation between the State Audit and local authorities, aiming to enhance recommendations for increasing state budget revenue and reducing expenditure. As of June 30, 2024, the State Audit had proposed an increase in revenue and a decrease in expenditure totaling over 10 trillion VND (approximately 600 billion JPY). Vietnam, while experiencing economic growth under its one-party system, places significant importance on fiscal discipline for sustainable development. The enhanced coordination between the State Audit and local governments is crucial for improving transparency and promoting the efficient allocation of resources. In the context of complex relations with China, maintaining domestic economic stability and autonomy remains a key priority for Vietnam. Strengthening audit functions like these contributes to building a foundation for the equitable distribution of economic growth benefits across the nation. Source: Nhan Dan