Prime Minister Nguyen Xuan Phuc chairs a meeting on building institutions (Photo: VNA)

In his opening remarks, PM Phuc said the revision of the Public Investment Law needs to go in the direction of decentralization and give more authority to ministries and localities, particularly the chairmen of provincial People’s Committees and ministers. He stressed the need to simplify procedures, promote administrative reform, create transparency in the allocation of capital, and improve the efficiency of public investment management.

He asked the Ministry of Planning and Investment to supplement the rules on public investment projects overseas, while clarifying People’s Council authority in local decisions: “Public investment must be renovated in decentralization and accountability, with clearer responsibilities required for People’s Committees and People’s Councils, as well as Ministers.”

The National Assembly Standing Committee is expected to comment on revisions to the Law on Public Investment in its September session.