Public Investment Management in Vietnam : Assessment and Reform Priorities for Overcoming the Bottlenecks
Vietnam’s on-going reform program places emphasis on improving the efficiency of public investment in order to boost the country’s economic performance, which remains highly dependent on factor accumulation. Despite the improvements introduced by t...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Hanoi
2019
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| Online Access: | https://documents.worldbank.org/en/publication/documents-reports/documentdetail/784301559570828978/public-investment-management-in-vietnam-assessment-and-reform-priorities-for-overcoming-the-bottlenecks http://hdl.handle.net/10986/31762 |
| Summary: | Vietnam’s on-going reform program places
emphasis on improving the efficiency of public investment in
order to boost the country’s economic performance, which
remains highly dependent on factor accumulation. Despite the
improvements introduced by the government in recent years,
including the issuance of the public investment law,
progress in restructuring of public investment has been slow
and mostly focuses on cleaning up of the existing fragmented
portfolio. A major factor behind the slow progress of
restructuring public investment is the lack of a
well-designed reform program with clear specific objectives
and priorities. Against this background, the Ministry of
Planning and Investment (MPI) requested the World Bank to
undertake a diagnostic assessment of Vietnam’s public
investment management (PIM) system in order to identify
weaknesses compared to good practice models, determine
priorities for reform and make specific recommendations on
actions over the short, medium and long term. This framework
analyzes the presence and quality of institutional
arrangements required to support the performance of eight
must-have functionalities across the project and capital
budgeting cycles, thus enabling a robust assessment against
good international practice. |
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