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...
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| Format: | Public Investment Review |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/01/23068847/vietnam--pim-new-market-economy http://hdl.handle.net/10986/21044 |
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okr-10986-210442021-04-23T14:04:00Z Vietnam : PIM in a New Market Economy Doan, Quang Hong Le, Tuan Minh Nguyen, Duong Anh ACCOUNTING AFFORDABILITY AGRICULTURE ASSETS AUCTION BANKS BID BIDDING BOND BONDS BUDGETING CREDITS DECENTRALIZATION DEFICITS DISCLOSURE EQUIPMENT EXPENDITURES EXPLOITATION GDP GOVERNMENT CREDITS INEFFICIENCY INFLATION INVESTMENT MANAGEMENT ISSUANCE LOAN MARKET ECONOMY NEW MARKET PEOPLES PUBLIC INVESTMENT PUBLIC#INVESTMENT RECESSION SOVEREIGN BONDS TAX TELECOMMUNICATIONS TENDERING TRANSPARENCY WTO 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. 2014-12-31T15:28:49Z 2014-12-31T15:28:49Z 2014 http://documents.worldbank.org/curated/en/2014/01/23068847/vietnam--pim-new-market-economy http://hdl.handle.net/10986/21044 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Public Investment Review East Asia and Pacific Vietnam |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING AFFORDABILITY AGRICULTURE ASSETS AUCTION BANKS BID BIDDING BOND BONDS BUDGETING CREDITS DECENTRALIZATION DEFICITS DISCLOSURE EQUIPMENT EXPENDITURES EXPLOITATION GDP GOVERNMENT CREDITS INEFFICIENCY INFLATION INVESTMENT MANAGEMENT ISSUANCE LOAN MARKET ECONOMY NEW MARKET PEOPLES PUBLIC INVESTMENT PUBLIC#INVESTMENT RECESSION SOVEREIGN BONDS TAX TELECOMMUNICATIONS TENDERING TRANSPARENCY WTO |
| spellingShingle |
ACCOUNTING AFFORDABILITY AGRICULTURE ASSETS AUCTION BANKS BID BIDDING BOND BONDS BUDGETING CREDITS DECENTRALIZATION DEFICITS DISCLOSURE EQUIPMENT EXPENDITURES EXPLOITATION GDP GOVERNMENT CREDITS INEFFICIENCY INFLATION INVESTMENT MANAGEMENT ISSUANCE LOAN MARKET ECONOMY NEW MARKET PEOPLES PUBLIC INVESTMENT PUBLIC#INVESTMENT RECESSION SOVEREIGN BONDS TAX TELECOMMUNICATIONS TENDERING TRANSPARENCY WTO Doan, Quang Hong Le, Tuan Minh Nguyen, Duong Anh Vietnam : PIM in a New Market Economy |
| geographic_facet |
East Asia and Pacific Vietnam |
| description |
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. |
| format |
Economic & Sector Work :: Public Investment Review |
| author |
Doan, Quang Hong Le, Tuan Minh Nguyen, Duong Anh |
| author_facet |
Doan, Quang Hong Le, Tuan Minh Nguyen, Duong Anh |
| author_sort |
Doan, Quang Hong |
| title |
Vietnam : PIM in a New Market Economy |
| title_short |
Vietnam : PIM in a New Market Economy |
| title_full |
Vietnam : PIM in a New Market Economy |
| title_fullStr |
Vietnam : PIM in a New Market Economy |
| title_full_unstemmed |
Vietnam : PIM in a New Market Economy |
| title_sort |
vietnam : pim in a new market economy |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/01/23068847/vietnam--pim-new-market-economy http://hdl.handle.net/10986/21044 |
| _version_ |
1764447601615175680 |