[PHNOM PENH POST]
ACLEDA and Canadia Bank have signed an agreement with the Ministry of
Economy and Finance (MEF) to introduce a public financial reform
management system in 17 provinces.
It was the third time ACLEDA
had signed such an agreement with the MEF, and the second time Canadia
had signed it. The first agreement was made in December, 2004 and the
second was signed in December, 2008.
Aun Porn Moniroth,
secretary of state for MEF, said the agreement would support financial
accountability and push forth a highly efficient public financial
management. “[This] public financial management reform is a significant
step towards building a financial system of government to achieve
noticeable growth and trust in the national budget,” he said.
The
initiative would help deliver more jobs to the private sector and
accelerate Cambodia’s economic development, Canadia Bank chairman of
directors Pung Kheav Se said. “Powerful countries with advanced
economies tend to offer some works to the private sector in order to
reduce the state’s expenses,” he said.
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