Speaking at the event, Dung stated that the portal has been built in reference to advanced models from around the world and in the interest of Vietnam’s requirements for budget transparency and publicity, towards gradually realising the commitments of the Government and the Ministry of Finance (MOF) to implement transparency and improve accountability in the allocation, management and use of public resources.
For the MOF, the portal will make the process of synthesising open budget reports faster and more accurate, he said, adding that for ministries, central agencies and localities, the portal is expected to help their open budget reporting become simpler and more convenient.
As for citizens, businesses, researchers and organisations at home and abroad, this is a communication channel that will provide the necessary data and information on the issues related to national budget finance, thus contributing to improving budget transparency scores of the country, ministries, central agencies and localities, the minister noted.
“The development and launch of the open budget portal is of great significance, helping to strengthen state budget monitoring and improve accountability regarding the management and use of the state budget, contributing to enhancing fiscal discipline and effectively using state budget resources,” Dung emphasised.
According to Stefanie Stallmeister, Operations Manager for the World Bank in Vietnam, the open budget portal will help to improve the openness, transparency and equitable efficiency of the budget, as well as strengthening macroeconomic management and awareness of risk and accountability in the provision of public services.
Swiss Ambassador to Vietnam Ivo Sieber hailed the portal as a tool that will help Vietnamese agencies and people overcome the challenges posed by COVID-19 in the context of the pandemic forcing governments to face difficult decisions on finance and budgeting.
