Introduction the 2015 law on public investments and recommendation to public sector accounting in Vietnam

Abstract

The public sector has a key role to play in enhancing the local goods and services. The Government is fully aware of the fact that Vietnam needs a proper public sector as a product of the state’s public policy, which provides high-quality and well-functioning educational, healthcare or social security systems through the effective management and use of public funds. These services should be needed investments onto them for getting the objectives set by the official organizations as well as Vietnam does. Furthermore, Vietnam is in the stage of improving its economy, adopting market economy mechanisms, and integrating into the world economy. So, Vietnam should change investment environment and make the advantages for accounting of using state budget. This paper aims to introduce the content of law on public investments in Vietnam and it will be effect on the year 2015. It employs an overview of this law and investigates the role of public investment on infrastructure on economic performance for the case of Vietnam. Moreover results suggest that there may be some effects to public sector accounting in Vietnam, particular on some aspects related with administration and nonbusiness accounting. This study compares between the 2015 law with accounting in governmental tasks organizations in some aspects for clearly clarification. The results demonstrated three aspects of transparency, bookkeeping and expense for investment in public sector.