Assessment of the Financing Framework for Municipal Infrastructure in Vietnam
A fundamental challenge for Vietnam is to improve the affordability and efficiency of infrastructure investment. The fragmentation of public infrastructure investment results in duplication and waste, and is a major underlying cause of investment i...
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| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/09/18928950/assessment-financing-framework-municipal-infrastructure-vietnam-final-report http://hdl.handle.net/10986/17568 |
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okr-10986-17568 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ASSET MANAGEMENT AUCTION AUCTIONS BALANCE SHEET BANKING SECTOR BID BIDS BOND BOND ISSUANCE BOND ISSUE BOND ISSUES BOND MARKET BORROWING CAPACITY BUDGETING CAPITAL BASE CAPITAL FORMATION CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL MARKETS COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL LOANS COMPETITIVE BIDDING CONTINGENT LIABILITIES CORPORATE BONDS CREDIT ENHANCEMENT CREDIT RATING CREDIT RATINGS CREDIT RISKS CREDITORS CURRENCY CURRENCY RISK DEBT DEBT DEFAULT DEBT FINANCING DEBT MANAGEMENT DEBT MARKETS DEBT OBLIGATIONS DEBT REPAYMENT DEBT REPAYMENTS DEBT RESTRUCTURING DEBT SERVICE DEBTS DEMAND FOR BONDS DEVELOPMENT BANK DISBURSEMENT DISCLOSURE REQUIREMENTS DOMESTIC BORROWING ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ENABLING ENVIRONMENT EQUITY CAPITAL EQUITY MARKETS EQUITY STAKES EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXPENDITURE EXPENDITURE RESPONSIBILITIES EXPENDITURES EXTERNAL FINANCE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FISCAL DECENTRALIZATION FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN FUNDS FOREIGN INVESTORS FOREIGN LOAN GOVERNMENT BOND GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEE GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEES INCOME LEVEL INFORMATION DISCLOSURE INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTING INVESTMENT CAPITAL INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENT RATE INVESTMENT REQUIREMENTS INVESTOR INTEREST LAND USE LAND VALUE LAND VALUES LEGAL FRAMEWORK LENDER LENDERS LENDING DECISIONS LENDING INTEREST RATE LEVIES LEVY LICENSES LOAN AGREEMENT LOCAL CURRENCY LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUES LOCAL GOVERNMENTS LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM CAPITAL LONG-TERM INSTRUMENT MACROECONOMIC STABILITY MANAGEMENT OPERATIONS MARKET ECONOMY MARKET FAILURES MARKET INFRASTRUCTURE MARKET MAKERS MARKET PRICE MARKET SIZE MATURITIES MATURITY MISMATCHES MATURITY PERIOD MATURITY PERIODS MATURITY STRUCTURE MDF MUNICIPAL BOND MUNICIPAL BOND ISSUANCE MUNICIPAL BOND MARKET MUNICIPAL BONDS MUNICIPAL FINANCE MUNICIPAL INFRASTRUCTURE MUTUAL FUNDS NATIONAL GOVERNMENTS NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING AMOUNT OUTSTANDING DEBT OUTSTANDING DEBTS PAYMENT OF DEBT PAYMENT OF INTEREST PENSION PENSION FUNDS PORTS PRIVATE CAPITAL PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROPERTY RIGHTS PROVINCIAL GOVERNMENTS PUBLIC PUBLIC ASSETS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC FINANCE PUBLIC FINANCES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SECTOR DEBT REGULATORY FRAMEWORK REPAYMENT REPAYMENT CAPACITY RESERVE RETURN RETURNS REVENUE SHARING RISK ASSESSMENTS RISK FACTOR RISK MANAGEMENT ROADS SECURITIES SETTLEMENT SETTLEMENT SYSTEM SHORT MATURITY SHORT-TERM DEPOSITS STATE BANK SUB-NATIONAL BORROWERS SUB-NATIONAL DEBT SUB-NATIONAL FINANCES SUBNATIONAL GOVERNMENTS TAX TAX RATES TAX REVENUES TIMELY PAYMENT TRANSPARENCY TREASURY TRUST FUND TRUST FUNDS URBAN PLANNING URBAN SERVICES URBANIZATION VALUATION |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ASSET MANAGEMENT AUCTION AUCTIONS BALANCE SHEET BANKING SECTOR BID BIDS BOND BOND ISSUANCE BOND ISSUE BOND ISSUES BOND MARKET BORROWING CAPACITY BUDGETING CAPITAL BASE CAPITAL FORMATION CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL MARKETS COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL LOANS COMPETITIVE BIDDING CONTINGENT LIABILITIES CORPORATE BONDS CREDIT ENHANCEMENT CREDIT RATING CREDIT RATINGS CREDIT RISKS CREDITORS CURRENCY CURRENCY RISK DEBT DEBT DEFAULT DEBT FINANCING DEBT MANAGEMENT DEBT MARKETS DEBT OBLIGATIONS DEBT REPAYMENT DEBT REPAYMENTS DEBT RESTRUCTURING DEBT SERVICE DEBTS DEMAND FOR BONDS DEVELOPMENT BANK DISBURSEMENT DISCLOSURE REQUIREMENTS DOMESTIC BORROWING ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ENABLING ENVIRONMENT EQUITY CAPITAL EQUITY MARKETS EQUITY STAKES EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXPENDITURE EXPENDITURE RESPONSIBILITIES EXPENDITURES EXTERNAL FINANCE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FISCAL DECENTRALIZATION FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN FUNDS FOREIGN INVESTORS FOREIGN LOAN GOVERNMENT BOND GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEE GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEES INCOME LEVEL INFORMATION DISCLOSURE INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTING INVESTMENT CAPITAL INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENT RATE INVESTMENT REQUIREMENTS INVESTOR INTEREST LAND USE LAND VALUE LAND VALUES LEGAL FRAMEWORK LENDER LENDERS LENDING DECISIONS LENDING INTEREST RATE LEVIES LEVY LICENSES LOAN AGREEMENT LOCAL CURRENCY LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUES LOCAL GOVERNMENTS LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM CAPITAL LONG-TERM INSTRUMENT MACROECONOMIC STABILITY MANAGEMENT OPERATIONS MARKET ECONOMY MARKET FAILURES MARKET INFRASTRUCTURE MARKET MAKERS MARKET PRICE MARKET SIZE MATURITIES MATURITY MISMATCHES MATURITY PERIOD MATURITY PERIODS MATURITY STRUCTURE MDF MUNICIPAL BOND MUNICIPAL BOND ISSUANCE MUNICIPAL BOND MARKET MUNICIPAL BONDS MUNICIPAL FINANCE MUNICIPAL INFRASTRUCTURE MUTUAL FUNDS NATIONAL GOVERNMENTS NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING AMOUNT OUTSTANDING DEBT OUTSTANDING DEBTS PAYMENT OF DEBT PAYMENT OF INTEREST PENSION PENSION FUNDS PORTS PRIVATE CAPITAL PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROPERTY RIGHTS PROVINCIAL GOVERNMENTS PUBLIC PUBLIC ASSETS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC FINANCE PUBLIC FINANCES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SECTOR DEBT REGULATORY FRAMEWORK REPAYMENT REPAYMENT CAPACITY RESERVE RETURN RETURNS REVENUE SHARING RISK ASSESSMENTS RISK FACTOR RISK MANAGEMENT ROADS SECURITIES SETTLEMENT SETTLEMENT SYSTEM SHORT MATURITY SHORT-TERM DEPOSITS STATE BANK SUB-NATIONAL BORROWERS SUB-NATIONAL DEBT SUB-NATIONAL FINANCES SUBNATIONAL GOVERNMENTS TAX TAX RATES TAX REVENUES TIMELY PAYMENT TRANSPARENCY TREASURY TRUST FUND TRUST FUNDS URBAN PLANNING URBAN SERVICES URBANIZATION VALUATION World Bank Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| geographic_facet |
East Asia and Pacific Vietnam |
| description |
A fundamental challenge for Vietnam is
to improve the affordability and efficiency of
infrastructure investment. The fragmentation of public
infrastructure investment results in duplication and waste,
and is a major underlying cause of investment inefficiency.
Bond issuance has been the most prominent form of debt
financing at the sub-national level. At the provincial
level, significant disconnects exist between total planned
investment needs in infrastructure, and the effective demand
for such investment. The success of any initiative to
improve the financing of municipal infrastructure in Vietnam
hinges on advances in the broader landscape of policy reform
as part of the country's long-term development. Meeting
these challenges requires a comprehensive approach that
addresses issues of governance, financing, and execution.
This report has been formulated with the objective of
informing the Government of Vietnam (GOV) on how the
financing framework for municipal infrastructure in the
country can be strengthened. It is based on an assessment of
the constraints and opportunities that sub-national
governments face in accessing financing for infrastructure
development. It also draws upon lessons and good practices
from international experience in this area, considering
their relevance for Vietnam. A set of recommendations and
implementable actions is provided, recognizing the broader
context of ongoing reforms that are needed on institutions,
incentives and the availability of information. |
| format |
Economic & Sector Work :: Country Infrastructure Framework |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| title_short |
Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| title_full |
Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| title_fullStr |
Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| title_full_unstemmed |
Assessment of the Financing Framework for Municipal Infrastructure in Vietnam |
| title_sort |
assessment of the financing framework for municipal infrastructure in vietnam |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/09/18928950/assessment-financing-framework-municipal-infrastructure-vietnam-final-report http://hdl.handle.net/10986/17568 |
| _version_ |
1764438110439997440 |
| spelling |
okr-10986-175682021-04-23T14:03:39Z Assessment of the Financing Framework for Municipal Infrastructure in Vietnam World Bank ACCOUNTING ACCOUNTING STANDARDS ASSET MANAGEMENT AUCTION AUCTIONS BALANCE SHEET BANKING SECTOR BID BIDS BOND BOND ISSUANCE BOND ISSUE BOND ISSUES BOND MARKET BORROWING CAPACITY BUDGETING CAPITAL BASE CAPITAL FORMATION CAPITAL GRANTS CAPITAL INVESTMENT CAPITAL MARKETS COLLATERAL COMMERCIAL BANK COMMERCIAL BANK LOANS COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL LOANS COMPETITIVE BIDDING CONTINGENT LIABILITIES CORPORATE BONDS CREDIT ENHANCEMENT CREDIT RATING CREDIT RATINGS CREDIT RISKS CREDITORS CURRENCY CURRENCY RISK DEBT DEBT DEFAULT DEBT FINANCING DEBT MANAGEMENT DEBT MARKETS DEBT OBLIGATIONS DEBT REPAYMENT DEBT REPAYMENTS DEBT RESTRUCTURING DEBT SERVICE DEBTS DEMAND FOR BONDS DEVELOPMENT BANK DISBURSEMENT DISCLOSURE REQUIREMENTS DOMESTIC BORROWING ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ENABLING ENVIRONMENT EQUITY CAPITAL EQUITY MARKETS EQUITY STAKES EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXPENDITURE EXPENDITURE RESPONSIBILITIES EXPENDITURES EXTERNAL FINANCE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FISCAL DECENTRALIZATION FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN FUNDS FOREIGN INVESTORS FOREIGN LOAN GOVERNMENT BOND GOVERNMENT BONDS GOVERNMENT DEBT GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEE GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SUPPORT GROSS DOMESTIC PRODUCT IMPLICIT GUARANTEES INCOME LEVEL INFORMATION DISCLOSURE INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL INVESTORS INSURANCE INSURANCE COMPANIES INTEREST RATE INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTING INVESTMENT CAPITAL INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT PORTFOLIO INVESTMENT PROJECTS INVESTMENT RATE INVESTMENT REQUIREMENTS INVESTOR INTEREST LAND USE LAND VALUE LAND VALUES LEGAL FRAMEWORK LENDER LENDERS LENDING DECISIONS LENDING INTEREST RATE LEVIES LEVY LICENSES LOAN AGREEMENT LOCAL CURRENCY LOCAL GOVERNMENT LOCAL GOVERNMENT REVENUES LOCAL GOVERNMENTS LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM CAPITAL LONG-TERM INSTRUMENT MACROECONOMIC STABILITY MANAGEMENT OPERATIONS MARKET ECONOMY MARKET FAILURES MARKET INFRASTRUCTURE MARKET MAKERS MARKET PRICE MARKET SIZE MATURITIES MATURITY MISMATCHES MATURITY PERIOD MATURITY PERIODS MATURITY STRUCTURE MDF MUNICIPAL BOND MUNICIPAL BOND ISSUANCE MUNICIPAL BOND MARKET MUNICIPAL BONDS MUNICIPAL FINANCE MUNICIPAL INFRASTRUCTURE MUTUAL FUNDS NATIONAL GOVERNMENTS NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OUTSTANDING AMOUNT OUTSTANDING DEBT OUTSTANDING DEBTS PAYMENT OF DEBT PAYMENT OF INTEREST PENSION PENSION FUNDS PORTS PRIVATE CAPITAL PRIVATE SECTOR PRIVATE SECTOR PARTICIPATION PROPERTY RIGHTS PROVINCIAL GOVERNMENTS PUBLIC PUBLIC ASSETS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC DEBTS PUBLIC FINANCE PUBLIC FINANCES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SECTOR DEBT REGULATORY FRAMEWORK REPAYMENT REPAYMENT CAPACITY RESERVE RETURN RETURNS REVENUE SHARING RISK ASSESSMENTS RISK FACTOR RISK MANAGEMENT ROADS SECURITIES SETTLEMENT SETTLEMENT SYSTEM SHORT MATURITY SHORT-TERM DEPOSITS STATE BANK SUB-NATIONAL BORROWERS SUB-NATIONAL DEBT SUB-NATIONAL FINANCES SUBNATIONAL GOVERNMENTS TAX TAX RATES TAX REVENUES TIMELY PAYMENT TRANSPARENCY TREASURY TRUST FUND TRUST FUNDS URBAN PLANNING URBAN SERVICES URBANIZATION VALUATION A fundamental challenge for Vietnam is to improve the affordability and efficiency of infrastructure investment. The fragmentation of public infrastructure investment results in duplication and waste, and is a major underlying cause of investment inefficiency. Bond issuance has been the most prominent form of debt financing at the sub-national level. At the provincial level, significant disconnects exist between total planned investment needs in infrastructure, and the effective demand for such investment. The success of any initiative to improve the financing of municipal infrastructure in Vietnam hinges on advances in the broader landscape of policy reform as part of the country's long-term development. Meeting these challenges requires a comprehensive approach that addresses issues of governance, financing, and execution. This report has been formulated with the objective of informing the Government of Vietnam (GOV) on how the financing framework for municipal infrastructure in the country can be strengthened. It is based on an assessment of the constraints and opportunities that sub-national governments face in accessing financing for infrastructure development. It also draws upon lessons and good practices from international experience in this area, considering their relevance for Vietnam. A set of recommendations and implementable actions is provided, recognizing the broader context of ongoing reforms that are needed on institutions, incentives and the availability of information. 2014-04-01T21:04:59Z 2014-04-01T21:04:59Z 2013-09 http://documents.worldbank.org/curated/en/2013/09/18928950/assessment-financing-framework-municipal-infrastructure-vietnam-final-report http://hdl.handle.net/10986/17568 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Country Infrastructure Framework East Asia and Pacific Vietnam |