VGP – The Ministry of Planning and Investment (MPI) and the Ministry of Finance will take drastic steps to assess the allocation of public capital to avoid scattered investment, said MPI Minister Bui Quang Vinh.
Minister Vinh made the point Thursday on the sidelines of the Ministry’s on-going national conference.
Minister of Planning and Investment Bui Quang Vinh - Photo: VGP
Under Circular 1792/CT-CP, dated October 15, 2011 on strengthening the management of investment sourced from the State budget and Government bonds, the MPI has definitely slashed down scattered public investment projects or even withdrew capital.
Thanks to the drastic measures, the number of finalized projects increased sharply and new projects declined. Vietnam expects to improve scattered investment and enhance public investment efficiency by 2015.
Earlier, Prime Minister Nguyen Tan Dung has instructed ministries, agencies and localities to ensure capital is invested effectively in key areas and projects, avoiding undirected investment with potential wastefulness and losses.
PM Dung urged for more drastic measures to renovate the management mechanisms of national target programs on public investment, while stressing the need to mobilize all different sources for social investment besides capital from State budgets.
By Kim Loan