IBM Singapore Provides Budget Management Information System to Vietnam

IBM Singapore Pte. Ltd will help Vietnam build the treasury and budget management information system (TABMIS), according to the contract worth $48.84 million signed with the Ministry of Finance on December 15.

 

This is the largest constituent of the World Bank-funded Public Financial Management Reform Project, which has been approved by the Government with total investment of $71.4 million, including $54.3 million from the WB’s preferential loans, $10 million from the British International Development Agency, and the remaining from Vietnam’s reciprocal capital.

 

The TABMIS project will be installed at state treasuries, financial agencies, and offices of the Ministry of Planning and Investment, in more than 600 districts in 64 provinces and cities nationwide.

 

The project will help the Ministry of Finance improve its budget and financial management capability, from planning to budget allocation and drawing a balance sheet. It will also strengthen reporting and accountability, budget preparation and public debt management of the ministry.

 

After four years of implementation, the project is expected to give the country a modern treasury and budget management information system, providing timely and accurately all data on budget receipts and expenditures.

 

The Public Financial Management Reform Project belongs to the four overall administrative reform programs in the 2001-2010 period.
P.V