Curaçao and the EU

EU Public Finance Modernisation Programme in Viet Nam (EU-PFMO)

06/10/2020 - 06:34
Better Public Services

The overall objective of the programme is to contribute to poverty alleviation and inclusive growth in Viet Nam by reinforcing macroeconomic stability, improving the government’s ability to implement its economic and social policies and strengthening the accountability and transparency of public finance in Viet Nam.

The overall objective of the programme is to contribute to poverty alleviation and inclusive growth in Viet Nam by reinforcing macroeconomic stability, improving the government’s ability to implement its economic and social policies and strengthening the accountability and transparency of public finance in Viet Nam.

The programme has two main components:

Component 1 will provide capacity building support to the Supreme Audit Institution by establishing a twinning-like arrangement with one or more European State Audit Institutions. Two expected results of the programme fall under this component are:

  • Expected Result 1: SAV's ability to carry out its mandate is strengthened by improving the capacity of its Human Resources
  • Expected Result 2: The quality of external audits of public funds is improved by undertaking quality and efficient modern financial risk-based financial audit

Component 2 will provide capacity building support to the Ministry of Finance (MOF). Three expected results of the programme fall under this component.

  • Expected Result 3: The legal framework for the planning and execution of the state budget is improved and is more aligned to international practice
  • Expected Result 4: The policy and regulatory framework for increased fiscal decentralisation is developed and the capacity of sub-national entities to manage public funds is strengthened, with a focus on the poorest provinces, where ethnic minorities are prevalent
  • Expected Result 5: Budgetary planning is more effective through the development of medium-term revenue and fiscal forecasting, and better alignment of expenditure with national policy priorities

Total Budget (EUR): 7,305,290

EU Contribution (EUR): 6,400,000

Duration: 2015-2022

Implementing organisation: Expertise France, GIZ, in collaboration with Ministry of Finance and the State Audit of Vietnam

Funding Instrument: DCI

Benefitting zone: Vietnam

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