Vietnam : PIM in a New Market Economy
Over the last two decades, Vietnam has made notable progress in reforming management of public investment. The legal framework on public investment management (PIM) has been continuously improved, covering the entire project management cycle. Manag...
| Main Authors: | , , |
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| Format: | Public Investment Review |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/01/23068847/vietnam--pim-new-market-economy http://hdl.handle.net/10986/21044 |
| Summary: | Over the last two decades, Vietnam has
made notable progress in reforming management of public
investment. The legal framework on public investment
management (PIM) has been continuously improved, covering
the entire project management cycle. Management of public
investment projects still faces several major challenges.
The objectives in development strategies and plans are
excessively broad and vague, which undermines quality of
preliminary screening. The analysis of the study suggests
some priorities for PIM reforms. First, the legal framework
has to be further strengthened to alleviate the existing
fragmentation, duplication, and lack of uniformity of the
laws and legislation. Second, decentralization of PIM should
be accompanied by measures to increase responsibility and
accountability of local governments and line ministries, and
to improve their capacity and coordination, particularly in
appraisal and monitoring. Third, the approach to monitoring
and evaluation (M and E) should be results based, which
requires a mechanism to effectively tie in project output
and progress with responsibility of agencies in charge of
PIM and to enhance participation of the community
organizations. Fourth, Vietnam needs to improve statistical
system to allow for adequate analysis of public investment
and, related to it, adopt realistic and feasible indicators
of PIM efficiency to facilitate M and E and ex post project evaluation. |
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