An international seminar on strengthening public investment management opened in Hanoi on Wednesday.
During the two-day seminar, jointly held by the World Bank, the Ministry of Planning and Investment (MPI), and the Asian Development Institute, participants share their experiences in mapping out strategies that help countries improve public investment management.
According to the MPI, around VND286 trillion (US$14.7 billion) was used for public investment during the 2001-2005 period, accounting for 23 percent of the total social investment.
In the 2006-2010, the figure is estimated to reach over VND739 trillion ($38 billion) or 24 percent of the total social investment.
State capital for public projects and programs holds a large proportion so the effective management and use of the source are very important and necessary.
Therefore, the Vietnamese government should have suitable measures and policies to use the national capital source more effectively, the ministry said.
Marin Rama, Acting Director of the WB’s East Asia Development Department, said Vietnam is one of the countries with a high public investment proportion, nearly 40 percent of its total GDP.
However, he also pointed out Vietnam’s shortcomings in public investment management that should be addressed in the coming time, including ineffective uses, insufficient attention to regional development in the overall investment plan, decentralization and the overlapping of related laws such as the State Budget Law, the Construction Law and the Bidding Law.
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