Leading foreign and domestic experts are gathering for the Vietnam Finance 2012 conference and expo in Hanoi to discuss measures for fiscal sustainability and medium-term expenditure framework.
During the two-day event, which
opened at the Sheraton hotel on September 20, delegates will focus their
discussions on improving budget allocation methods, estimates, and budget
planning.
Under the theme of “Strengthening fiscal sustainability through a Medium-term Expenditure Framework and Modern Technology Solutions,” the conference is expected to provide recommendations for implementing modern technologies into office buildings and completing a new database system that has been designed to strengthen the government’s budget management and improve public administration services.
The aim of Vietnam Finance 2012 is to promote the use of modern technology in forecasting and build national financial planning with the development of e-financial services.
Financial reform is a high priority on the agenda for the national program on public administration that covers the economic development period 2011-2020.
Fiscal sustainability has drawn the attention of many nations, especially following the 2008 economic crisis. As well as rising challenges to the stability of revenues, expenditure has tended to escalate during the recent implementation of new social welfare, education, and health care policies. It is also the concern of international financial institutions such as the IMF and World Bank.
According to economic specialists, the aim of fiscal reforms is to manage public expenditure and state revenue to balance and stabilise the budget. As a result, a tight interconnection between the legal framework in fiscal policies and citizen-government partnership is needed.
Following the success of eight similar conferences and expos, Vietnam Finance 2012 aims to create the close link between financial institutions and businesses to boost IT application in the financial sector and develop e-financial services.
An exhibition will also be held as part of the conference to provide a venue for leading technology companies such as Oracle, Schneider Electrics and Fast to introduce modern technology applications and solutions that improve the effectiveness of forecasting and planning financial policies.
The annual event is held jointly by the Ministry of Finance and the International Data Group (IDG) in Vietnam.
(VOV)
