MINISTRY OF EDUCATION AND
TRAINING
STATE BANK OF VIETNAM
BANKING ACADEMY OF VIETNAM
---------
DAO THI HO HUONG
EFFICIENCY OF PUBLIC INVESTMENT
IN THE CURRENT PERIOD IN VIETNAM
SUMMARY OF DOCTORAL THESIS
Hanoi, 2021
MINISTRY OF EDUCATION AND
TRAINING
STATE BANK OF VIETNAM
BANKING ACADEMY OF VIETNAM
---------
DAO THI HO HUONG
EFFICIENCY OF PUBLIC INVESTMENT
IN THE CURRENT PERIOD IN VIETNAM
Major: Finance – Banking
Code: 9.34.02.01
SUMMARY OF DOCTORAL THESIS
Academic supervisors:
1. Assoc. Prof. Dr. To Kim Ngoc
2. Assoc. Prof. Dr. Nguyen Thanh Phương
Hanoi, 2021
1
COMMITMENT
I hereby declare that this is my own research. The data and materials used in the
thesis have a clear origin and are quoted in accordance with regulations.
The author of the thesis
Dao Thi Ho Huong
2
ACKNOWLEDMENT
The thesis is a study of the author seriously for a long time with the support of
individuals and organizations.
First of all, the author would like to express my deep gratitude to Assoc. PhD. To
Kim Ngoc and Assoc. PhD. Nguyen Thanh Phuong for their expert guidance on my
research.
The author also would like to thank teachers of Banking Academy and
Postgraduate Faculty for facilitating learning and researching for the PhD candidate.
The author would like offer my sincere gratitude for the generous help of scientists
and officers in agencies of finance, science, technology and research institutes on
conducting the actual survey.
Sincerely thank my family as well as agencies, colleagues and friends, for
encouraging the author to complete the thesis.
The author of the thesis
Dao Thi Ho Huong
3
INTRODUCTION
1. Research background
Unstable conditions of the world at the present time such as the financial crisis of
2007 – 2008, COVID-19 pandemic, etc. have posed many risks to any countries’
economy. Public investment is considered as an indispensable tool to affect the economy.
Effective public investment will be the driving force for economic growth, especially in
the pandemic context. These ideas are consistent with the findings of Chakraborty and
Dabla – Norris (2011) on effects of public investment on economic growth, or the
findings of IMF (2015) on the relation of public investment efficiency and socio-
economic development.
Vietnam’s public investment for development accounts for a modest proportion in
the national expenditure (state budget), but this rate, when comparing to the same rate of
other regional countries, is higher, showing too much government intervention in the
economy. Vietnam’s public investment efficiency in the present is fairly low. The study
of Pho Thi Kim Chi et al. (2013) showed that the effect of public investment on
economic growth in short-term period was much larger in long-term period. CIEM
(2013) in the study on Public Investment, Public Debt and Budget Sustainability in
Vietnam gave an overview of the current situation of public investment, evaluated
Vietnam's public investment efficiency in the period 2000-2012 and stated the effect of
incomplete legal framework on low public investment efficiency in Vietnam. Vu Thanh
Tu Anh (2013) claimed the requirement of a standard process of implementing public
investment to achieve public investment efficiency. Tran Kim Chung et al (2015)
mentioned that instead of investing into a great amount of sectors, Vietnam should make
public investments with a lot of care. Therefore, the study of “Efficiency of public
investment in the current period in Vietnam” is absolutely necessary.
2. Research objectives
General objectives: On the ground of evaluation of Vietnam’s public investment
in the period of 2007 – 2019 by systematizing theories and summarizing international
experiences on managing public investments, the thesis suggests solutions for changing
methods for managing Vietnam’s public investment in the coming time.
