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Sep, 2017

Lao PDR Delegations Admire on the Quick Change on the Reform of Cambodia’s Public Financial Management

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H.E Dr. Atsphangthong SIPHANDONE, Vice Minister of Ministry of Finance of Lao PDR has admired on the Public Financial Management Reform of Cambodia especially with the presence of Financial Management Information System (FMIS) that helps accelerating the reform and offers a noticeable achievement. H.E stated during his leadership of 22 Lao PDR delegations on the study tour to the Ministry of Economy and Finance in order to learn from the implementation of Public Financial Management Reform in Cambodia specifically on FMIS from 23rd-25th August 2017.

H.E Dr. Atsphangthong SIPHANDONE added that Lao PDR delegations truly have received wonderful knowledge and experience from Cambodia team as expected although this is just a short visit. H.E has also appreciated general secretariat of FMIS project management working group (FMWG) for sharing a handful of experience on FMIS implementation and will plan to invite the team to visit, advice, and contribute inputs to the building of FMIS of Lao PDR’s Ministry of Finance.

At the same time, H.E Dr. Hean Sahib, Secretary of State of Ministry of Economy and Finance and the Chairman of FMWG, representative of Senior Minister and Minister of the Ministry of Economy and Finance H.E. Academician Aun Pornmoniroth, has warmly welcomed delegations of Lao PDR. H.E stated that FMIS has been considered as a backbone and an indispensable device in Public Financial Management Reform Program (PFMRP) at all platforms. Overall, FMIS has demonstrated clearly on the efficiency of budget implementation in Cambodia.

H.E Dr. Hean Sahib added that the success of FMIS project is also because of the involvement of development partners whom have supported on this implementation especially European Union and World Bank making FMIS recognized from users at all line ministries in Cambodia including national and sub-national.

In this occasion, Mr. George Edgar, Ambassador of European Union of the Kingdom of Cambodia has congratulated the Ministry of Economy and Finance of Cambodia as well as Royal Government of Cambodia stating that FMIS has really been successful, which is an incredible achievement offering great benefits to the Financial Management in Cambodia with accuracy, accountability and efficiency. H.E  added that European Union promises to continue supporting on both financial and technical assistance for Phase II implementation.

Likewise, the reasons for Lao PDR to choose Cambodia for the study visit at Ministry of Economy and Finance are because:

  1. The European Union and World Bank as representatives of all development partners whom have helped the implementation in Cambodia have advised to Lao PDR’s Ministry of Finance who is now reforming their public financial management to have a study visit and get experience shared on the actual implementation and success of the reform driving by FMIS.
  2. The implementation of FMIS Cambodia has spent in accordance to budget yet received efficiency and transparency while also achieved the main goals, which contributes to the improvement of accountability, transparency, and efficiency of Public Financial Management in Cambodia.
  1. Under direct leadership of Senior Minister and Minister of the Ministry of Economy and Finance H.E. Academician and with great attention from the Royal Government of Cambodia, the core team of FMWG have put in a lot of effort in managing and implementing Phase I and especially in Phase II. The FMWG  has been equipping themselves with many capacity buildings both in the local and abroad as well as self-learning, research, and in self-problem solving.
  2. Another driving force is the value of FMIS implementation has been recognized by users at all sites (national and sub-national level) and other relevant stakeholders at all level that it has truly offered great values and most importantly it has been recognized by development partners that it is a big element in driving public financial management reform program in “satisfactory level” after the completion of funding and the after-project monitoring by World Bank, European Union and International Monetary Fund on performances and results of FMIS implementation and this evaluation offered a great foundation towards Phase II implementation.

FMIS has been great benefits to Ministry of Economy and Finance as well as the Royal Government of Cambodia; it offers Cambodia a modernized system, a decentralized budget, an automated budget check, payment and transfer, quick and transparent monitoring and preparation of accounting list based on accounting standard, its automated upload of bank statement and customs revenue into the system, Electronic Fund Transfer, and Standard Financial statement.

FMIS is not only an element to accelerate PFMRP towards its vision but also to strengthen a proper resource allocation contributing to the improvement of accountability, transparency, and efficiency of Financial Management in Cambodia.