Overview of public investment restructuring within the framework of Vietnam’s growth model reform

Abstract

In light of reviewing public investment restructuring during reforming growth model worldwide, this research has examined the situation in Vietnam. Using a combination of qualitative and quantitative methods, the research has provided an overview of theories, policies, and practical situations relating to public investment restructuring and has shown that the restructuring of public investment in Vietnam during the period of 2011-2014 was in the right direction of enhancing transparency, reducing the proportion of public investment in total social investment capital, resolving non-performing loans in capital construction, and contributing to the reform of growth model in Vietnam. However, public investment restructuring still has such drawbacks as lack of a master agenda for restructuring and lack of criteria for evaluating public investment projects, etc. In this paper, the authors also suggest a number of general as well as specific solutions for continuing to restructure public investment within the framework of Vietnam’s growth model reform in the period of 2015-2020.