Government-by-Government Assessments: Vietnam
During the review period, the government made its executive budget proposal, enacted budget, and end-of-year report accessible to the public, including online. Information on debt obligations of state-owned enterprises was not publicly available. Publicly available budget documents provided a substantially complete picture of the government’s planned expenditures and revenue, including natural resource revenue, but the government maintained off-budget accounts. Budget information was considered generally reliable, although budget documents were not fully prepared according to internationally accepted principles. While the supreme audit institution lacked independence that met international standards, it did review the government’s accounts, made its report publicly available, and followed up on its findings. The government specified in law or regulation and appeared to follow in practice the criteria and procedures for awarding natural resource extraction contracts and licenses. Basic information on natural resource extraction awards was not always publicly available.
Vietnam’s fiscal transparency would be improved by:
* Publishing information on major state-owned enterprise debt obligations;
* Eliminating off-budget accounts or subjecting them to adequate audit and oversight;
* Fully preparing budget documents according to internationally accepted principles;
* Ensuring the supreme audit institution meets international standards of independence; and
* Publishing basic information on natural resource extraction awards.
Tags
Bureau of East Asian and Pacific Affairs Bureau of Economic and Business Affairs Division for International Finance and Development Vietnam
Source: U.S. Department of State, Bureau of East Asian and Pacific Affairs