A delegation of lawmakers will supervise the implementation of laws and policies on the management and use of foreign loans.

The Tan Vu - Lach Huyen Highway in the northern port city of Hai Phong. The project has investment of almost 11.85 trillion VND (525.3 million USD), of which the majority was funded with Japanese official development assistance

The delegation was set up under a resolution issued by the National Assembly Standing Committee. It will evaluate the issuance of legal documents and the implementation of policies and regulations relevant to the management and use of foreign loans.

Nguyen Duc Hai, a member of the NA Standing Committee and Chairman of the NA’s Financial and Budget Committee, is leading the delegation.

The lawmakers will review results, shortcomings and difficulties as well as defining the responsibilities of agencies, organisations and individuals.

After that, they will issue measures to organise the implementation on laws and policies on the management and use of foreign loans in the future and relevant policies and regulations as well.

Regarding the subject of supervision, the resolution states that the Government and the Prime Minister will have to report the issuance of legal documents, the implementation of policies and regulations, and the management and use of foreign loans.

Meanwhile, ministries, sectors, agencies, organisations and individuals, who are relevant to this area, are also on the list.

In localities, the people’s councils, people’s committees of major cities including Hanoi, HCM City, Hai Phong, Da Nang and Can Tho will outline specific contents under their responsibilities.

The resolution will have three contents for supervision, including the issuance of legal documents on the management and use of foreign loans; the real management and use of foreign loans; and the implementation of proposals recommended by relevant inspecting and auditing agencies.

The supervision results will be reported to the NA Standing Committee at a session in August 2018, and sent to NA deputies at the committee’s sixth session, which will take place at the end of 2018.

VNA