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Quick public investment restructuring required (30/5)
30/05/2013 - 23 Lượt xem
This showed the determination of
the government in public investment restructuring as it plays an
decisive role in the general investment efficiency of the economy.
Addressing the issue whether the
public investment restructuring plans will be feasible when the Public
Investment Law has not been approved , economic expert Bui Kien Thanh
made a comparison statement saying that public investment was like a
patient that needs immediate treatment, and should not sit and wait for
medicines.
In the meantime, some opinions
also said public investment restructuring was a necessary job and
functional agencies should not await a law but rely on the available
legal documents and start the job right now.
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The
Public Investment Law was designed since 2009 according to the
Resolution 72/2006/QH11 dated November 29, 2006 and continued to be
drafted in 2010 according to the Resolution 883/2010/UBTVQH 12 dated
February 09, 2010 of the Standing Committee of the National Assembly.
According
to the Ministry of Planning and Investment, the draft has been done and
will be submitted to the sixth session of the National Assembly in
October.
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In 2012, the Ministry of
Planning and Investment reported that the public investment
restructuring activities obtained positive results and prevented some
chronic situations that have been lasting for many years. The Deputy
Minister of Planning and Investment Cao Viet Sinh said according to
regulations, projects of the D Group now could only prolong four to five
years instead of seven or eight years like before. Similarly, projects
of the C Group could only prolong three years instead of four to five
years. The newly-establish projects have been limited and rampant
investment state has been partly abolished.
Talking about this result, the
Minister of Planning and Investment Bui Quang Vinh said despite initial
positive results, the public investment restructuring process has not
met the expectations of the Vietnamese people and society. Vietnam’s
resources remain dispersed and therefore the public investment
restructuring will continue to be implemented in 2013.
Accordingly, Vietnam will focus
on attracting private investment in infrastructure while public
investment will only prioritize social security issues and be reciprocal
capital for Official Development Assistance and infrastructure projects
that must involve the participation of the State. To do this, Vietnam
will change the mechanism for attracting private investment that could
allow simpler participation of the private sector to boost the country’s
economic development. The country will also tighten control over
investment allocation for localities to avoid wastes; accelerate
privatization of the state economic corporations as they are the ones
that use the State money most inefficiently.
Though, it doesn’t mean that the
Public Investment Law means nothing to the public investment
restructuring activities. By contrast, it is very necessary. However,
the State capital sources will continue to be wasted if functional
agencies only sit there awaiting the Public Investment Law to carry out
the job./.
Source: VEN
Source: VEN
