The sluggish disbursement of public investment is attributable to the combination of three major factors.

The Presidential Office held a press conference in Hanoi on July 4 to announce the President’s order on the promulgation of seven laws which were adopted at the seventh session of the 14th National Assembly.

The draft revised law on public investment was at the focus of attention at the National Assembly during the morning of May 28, the 7th working day of the NA’s 7th session.

Some economists warn that the higher investment capital for national important projects may make it more difficult to manage public projects and lend a hand to unnecessary use of state funds.

Vietnam is still under big pressure to call for capital for domestic debt swap, with 50 percent of domestic debts expected to reach maturity in the next three years, according to the World Bank.

 VietNamNet Bridge – Localities and ministries this year must tighten controls on public investment activity, especially in the stages of fund appraisal and balance, approval in principle and final approval.

Associate Professor Tran Hoang Ngan, a member of the National Assembly Economics Commission, tells the Giao duc Viet Nam e-newspaper that he is confident the Government will implement in full the Politburo Resolution on managing public assets

The budget deficit in the first half of the year hit VNĐ82.9 trillion (US$3.7 billion) due to rising recurrent expenditures and the repayment of debts, the General Statistics Office reported.

 VietNamNet Bridge – Viet Nam needs to shift from a low middle-income to higher-income nation and avoid the middle-income trap by reforming policy content, structure and organisation,

VietNamNet Bridge - Many bidding documents require tenderers to provide import products, even if the products can be made domestically. 

 VietNamNet Bridge – Minister of Planning and Investment Bui Quang Vinh acknowledged that large numbers of public investment projects have fallen behind schedule and have even faced cost overruns.

VietNamNet Bridge – Local authorities and ministries are drawing up large public investment projects, even though the state budget remains modest.

VietNamNet Bridge – Encouraging rational decision-making is a strong feature of the 2014 Law on Public Investment, Dao Quang Thu, Deputy Minister of Planning and Investment, tells the Viet Nam & World Economic Affairs newspaper.

 Binh Dinh approves refinery plan; Economy struggles to cope with bad debt, slow growth; Domestic apparel sales predicted to rise 10-15%; Auto market growth seen unsustainable; Ho Chi Minh City sees significant economic recovery

 VietNamNet Bridge – Drastic measures should be taken by ministries, agencies and provinces to meet the 5.8 per cent GDP growth target this year.

Fort Hood Col. Viet Xuan Luong became the first Vietnamese American to be made a general in US history in an August 6 ceremony at Cooper Field at Fort Hood, attracting Austin police and members of the local Vietnamese community.

 VietNamNet Bridge – Nguyen Quang Thai, a professor at the Viet Nam Economics Science Association, told newspaper Dai doan ket (Great National Unity) about the progress made towards restructuring public investment.

 VietNamNet Bridge – Prime Minister Nguyen Tan Dung asked ministries and localities to continue the comprehensive and effective implementation of socio-economic development tasks at a Government meeting in Ha Noi yesterday, April1.

 Danang inks Thai agreement; FTA promotes Vietnam-Chile agricultural trade; Toshiba eyes Vietnam’s smart grid investment; Da Nang attracts US$295 million in FDI; VNDirect joins hands with Singapore firm

 VietNamNet Bridge – A new draft law hopes to stringently control state-funded projects through stiff regulations, in an effort to battle corruption and waste.