Many public investment projects lack supervision

08-Oct-2014 Intellasia | TBKTSG | 6:00 AM Print This Post

Up to 40 percent of the public investment projects nationwide have not been supervised by relevant State agencies and quality management entities in accordance with exisiting regulations, according to the head of the Investment Supervision and Appraisal Department under the Ministry of Planning and Investment.

Nguyen Xuan Tu told a seminar on building strategies for supervision and evaluation of public investments in Hanoi last week that ministries, agencies and local governments have carried out a total of 34,000-38,000 public investment projects with 24,000-26,000 or 60 percent of the total included supervision reports.

Tu said 40 percent of the public investment projects have not monitored and this is a major concern.

“This means using the State budget at many projects has not been reported but these projects are still implemented (by ministries, agencies and localities) though there are punitive sanctions for this,” he said.

This is why public investments have not been effective in the past year, Tu said and added that ministries and even the prime minister do not know well about the projects funded by the State budget as the developers and investors do not report the implementation of these projects.

Tu pointed out that a number of public investment projects have been delayed for a decade despite annual capital disbursements. He expected the Public Investment Law will help improve the situation when it takes effect next year.

The government has deployed a monitoring and assessment system for public investment projects but this system can cover only 10,000 out of the nearly 40,000 projects. The government will be able to keep track of all these projects when the system is updated.

Random and ineffective public investments remain a headache though the prime minister has ordered restoring the situation through Directive 1792. According to a recent report by the State Audit of Vietnam, many ministries and localities have used the State budget for their projects without careful consideration.

The localities allocating finances to the public investment projects which are not urgent include Quang Binh Province with 19 projects, Phu Tho Province with 13 projects and Son La Province with six.

 


Category: Economy

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