Tải bản đầy đủ

tóm tắt tiếng anh hiệu quả dự án đầu tư bằng vốn ngân sách nhà nước trên địa bàn tỉnh bắc giang








HANOI, 2012


1. Necessity of of the subject
Development Investment is extremely significant role in promoting social and economic

in each country, each branch, each locality, it is the foundation of growth and sustainable
development. The practice of market economy in the developed countries as well as over 20
years of real innovation in Vietnam have confirmed that: Tools to use resources effectively to
achieve the economic objectives of the plan is oriented programs and projects on socio-
economic development, in other words, programs and projects are tools specific plan, to put the
plan into real life market. On the other hand, the project has a very important role for investors,
managers and direct impact to the process of socio-economic development. The project is
important to base decisions of capital investment, investment planning and monitoring the
investment process. The project is the basis for the financial institutions making funding
decisions, the state authorities for approval and issuance of investment licenses. The project is
considered an important tool in the management of capital, materials, labor in the investment
process. In our country in general and the province of Bac Giang in recent years, waste, loss
and the negative to make effective investment income from projects using State budget is not
high, is that the hot issues both social care. With the special meaning of this important show the
need for operational research to improve the efficiency of investment by the state budget in the
province of Bac Giang.
2. Research purposes.
Codify and clarify the basic theory about the effectiveness of the investment projects in
the state budget, experience of public investment projects in some countries in the world and
lessons learned.
Analyze and evaluate the state of efficiency of investment projects funded by state budget
Bac Giang province, through which draw the achievements, constraints and the cause of an
investment project with capital budget State policies are not effective in Bac Giang province.
Proposed solutions and recommendations improve the efficiency of investment projects in
the state budget in the area.
3. Objects and scope of the research
Objects of the research: Efficiency of projects were invested in the state capital budget.
Orientation and strategic socio-economic development of Bac Giang and effective measures to
improve project.
Scope of the research: Efficiency of investment projects in the state budget funds in the
province of Bac Giang period from 2006 to 2010 of the investment projects completed and put
into use.
4. The research methods
Methodology based on dialectical materialism, historical materialism, by using
mathematical modeling methods, combining history and logic, statistical method, comparative
method and some other scientific methods to elucidate research problems.
5. The thesis research situation
Currently, there are some research issues related to investment projects and investment
efficiency in the domestic and foreign. Through the research process and find out, I have some
comments, review of these studies are as follows:
In "Financial management in the construction sector" by Dr. Thai Ba Cam. Authors
focused on big projects and big investments from the state budget, focused analysis of


investment projects before 2000, has stated quite detailed about the basic characteristics of the
activity construction affecting waste and losses, negative in construction investment, which is
characterized stated cost management construction project, generally assess the investment
situation of our country from early stages of our country by 2000. The book raises a number of
causes of loss and waste of capital construction investment period 1991 – 2000. Downside of
the author is not quantify the value loss, there is next to his law studies before construction was
born, quantify the targets have not been applied in evaluating projects, not to evaluate the
effectiveness of the investment focused on the remaining causes should be overcome by the
implementation of investment projects on the level of the country.
In "Project Management" and "construction project management" of the academician,
doctor of science Nguyen Van Dang, the author presents fairly comprehensive definition of
investment projects, the structure of the projects, facilities construction project management,
methods of organizing construction project management, project contract management,
financial management introduction project management method project finance with curve
charts "S" for the use of different objects.
The thesis research of Dr. Nguyen Phuong Bac with the theme "Orientation and
investment solutions economic development in Bac Ninh province," the authors analyze the
major factors affecting investment in the local economic development Bac Ninh province. The
thesis was divided capital in each industry, agriculture, transport infrastructure, trade and
tourism services, education and health and make the causes affecting the efficiency of capital
investment. The thesis has not fully evaluated the effectiveness of investment projects, has not
yet been the model of project management that promote the efficiency of investment projects
with capital budgets.
Going into financial solutions to improve the efficiency of capital construction from state
budget PhD thesis in economics "Financial solutions to improve the efficiency of capital
construction investment from the state budget in the area Nghe An province "in 2003. In this
subject the author Phan Thanh Mao presented a systematic analysis and theoretical issues about
the effectiveness of capital construction investment from the state budget, analyzing the status
of this problem in Nghe An province and the major part of the thesis focusing on measures to
improve the efficiency of capital construction investment capital from state budget. However,
in this thesis the author analyzes the situation only through the statistical method described
without using the test method to demonstrate the factors that most influence the efficiency of
capital construction investment budget, if they do this financial solution will make the thesis
more persuasive.
Ministry level "A number of measures to improve investment efficiency from the state
budget" in 2005 to the Institute for Economic Management by the Central MA. Hoang Van
Thanh, chairman of . Thread is going into the solution to improve the efficiency of investment
from the state budget and divided into four main groups: group solutions financial solutions
group human group on the mechanism solutions, investment management policies from the
State budget alternative group. However, in this study gave very general solution for the entire
project management activities from the capital investment budget and improve its performance,
have not shown that any solution will be applied to file medium for each particular local.
Also, on the journals have a lot of articles and works management refers to projects
funded by state budget. This may include a number of important posts such as: "Making
effective use of capital construction" of the Tao Huu Phung Journal of Finance (6/440), "Some
comments on the charter amendments investment management and construction" of the lodge


Phuc Quynh on Vietnam Financial Times of 27 in 2003, "Regulation bidding - the burning
issues" of Tran Trinh Tuong Construction magazine 7, 2004… These articles are more or less
the situation analysis on the management of investment projects with capital budget and
propose solutions to address the backlog. However, under the article shall not be a thorough
analysis of the situation as well as offer solutions to the problem worth monitoring.
With the spirit to acquire, selectively inheriting the findings of previous works, in this
thesis, the author focused on a fairly comprehensive and depth of the theory and practice
efficiency of investment projects in the state budget, based on which the Author proposed
practical and feasible to increase the efficiency of investment in state budget capital.
6. The new point of the thesis.
The new contribution in terms of academic, theoretical:
Research projects and efficient capital investment projects in the state budget in the
context of Vietnam, how the thesis proposed classification of investment projects based on
"type of investment," which has 3 types of projects: (i) Investment projects with construction
works, (ii) The investment project has no construction work, (iii) The investment project
includes a mixture of investment and construction. Each type requires the appropriate
management policies to achieve effective.
The thesis also shows two features of investment projects with state budget capital,
including: (i) The project is not tied to a real owner, (ii) The project is the form of goods and
services in which public goods pure and impure. These two characteristics lead to difficulties in
managing such: likely to cause waste or loss is less effective, particularly as a basis for
restructuring requires public investment and enhance the socialization of investment projects
with state budget capital.
The thesis proposed target group to assess the effects of capital investment projects in the
state budget, including impact indicators of investment to economic growth through economic
model of; impact assessment criteria to projects of social justice through the GINI coefficient
and Lorenz curve; impact indicators project to attract investment outside the state budget.
The conclusions and recommendations drawn from new research results, surveys of the
thesis: Thesis confirm the effectiveness of investment projects fund by state budget capital is
lower than expected, is proved by the impact of weak investment to economic growth,
economic restructuring, job creation employment, environment, economic development and
difficult areas of social justice. The thesis also offers 13 reasons for the low investment
performance which highlighted the inadequacies of text mode in the management of investment
projects between Law and Procurement Law provisions in the state capital.
Research projects invested by the state budget in the province of Bac Giang, eight group
thesis launched a new solution for improving the effectiveness of the project in the province,
which is: (1) promulgate regulations state cooperation - Private (PPP) in the field of investment
projects, the rent regulations organizing the management of investment projects with state
budget capital; (2) To speed up construction planning and investment management increased as
planned; (3) The process of formulation, appraisal and approval of investment projects; (4)
management of capital investment projects, (5) Inspection, control and supervision of the state,
(7) To renew the project operator, (8) To consolidate the work Consultant of the Project
The thesis also proposes a number of new proposals to the State, including: (i) of the Law
on Public Investment Board, (ii) assign the function of State management of the bidding for the
Ministry of Construction.


7. The structure of the topic.
Project "Efficient of investment projects funded by the state budget capital in Bac
Giang province "
Composition: In addition to the introduction and conclusion, table of contents,
appendices and reference lists, topic is structured into 3 chapters: (i) Chapter 1: Rationale for
the efficiency of investment projects in the state budget, (ii) Chapter 2: Current status effective
investment projects funded by state budget Bac Giang province (iii) Chapter 3: Solutions
improve the efficiency of investment projects funded by state budget Bac Giang province.

Chapter 1
1.1 Overview of projects funded by state budget
1.1.1 Investment activities The concept of investment
Investment is the process of using existing resources in order to conduct operations to
obtain the results, make certain goals in the future. Which resources can be used money, natural
resources, the intellectual labor and intellectual. These results may be an increase in physical
assets, financial assets or intellectual assets and resources are qualified to work with higher
productivity for the economy and for the entire social. The concept of investment capital
a. The concepts.
Investment of funds accumulated by the society, the business units and services, it is the
savings of the people and mobilize capital from various sources such as joint ventures or
foreign-funded…aim to reproduce the fixed assets, to maintain operation of the technical
facilities available, to innovate and add the material and technical basis for the economy, for
the branches or agencies business services, as well as implementation costs necessary to create
conditions for the start of the active material and technical basis of newly added or newly
b. Characteristics of investment capital
Investment is considered basic elements beginning of the growth and profitability.
Investment requires a large amount of capital, large amount of capital is the main objective to
create the material and technical conditions necessary to ensure growth and economic
development. Capital construction process to go through a very long labor process can be put
into use, the investment is a major risk areas
c. The sources of investment capital: Capital investment in the economy is formed from
two main sources of domestic capital and foreign capital
1.1.2 Investment projects The concept and characteristics of investment projects
a. The concept of investment projects
The investment project is a set of proposals related to the commitment of capital to create
new, expansion or renovation of certain facilities in order to achieve or maintain growth,
improvements, improved of product or service for a period determined. Thus, an investment
project includes four main components: objectives, results, activities and resources
b. Characteristics of investment projects.
Starting from the concept of investment projects, which can identify the following basic


characteristics of the project has specific objectives to meet a specific need has been set, the
project exists in an environment uncertainty, was dominated by projects and project duration
subject to resource constraints. The necessity to carry out investment activities under the project
The project has a very important role for investors, managers and direct impact to the
process of socio-economic development. Without the project, the economy will be difficult to
capture the growth opportunities. The project is important to base decisions of capital
investment, investment planning and monitoring the investment process. The project is the
basis for the financial institutions funding decisions, the authorities of the state for approval and
issuance of investment licenses. On the other hand the project is also regarded as important
tools to manage capital, materials, labor in the investment process. Classification of investment projects
The projects are very diverse in level and type, size, duration and are classified according
to different criteria. To facilitate the monitoring and management and suggest measures to
improve investment performance, is necessary to classify investment projects according to the
following criteria. As a form of investment: This criterion of investment projects can be divided
into three categories as follows: (i) Investment projects with construction work, (ii) investment
project without building it, but the project planning, procurement, technology transfer…(iii)
Projects mixture of both investment and construction, this type is now common for most of the
investment project. Under the decentralized management of projects under the deciding
competence or licensing of investment: Depending on the importance and scope of the project,
the project is divided into 4 groups: Important national projects and projects of Group A, Group
B projects, the project group C
1.1.3 Investment projects funded by state budget capital The concept and characteristics of investment projects funded by state budeget.
a. The concept
Projects funded by the State budget as projects using State budget funds to implement
programs and plans of the state in each given period
b. Characteristics of investment projects funded by the State Budget
The projects is invested by state budget with the following characteristics: Projects funded
by the state budget is not tied to a real property owners; do not follow rules direct refund;
follow closely the plan of the State, and local industries, mainly new projects, large and
complex, wide influence, have an important role in the development of various sectors and
local and economy, the project shall comply with the principle of allocating increased and
accounted for the major projects with capital investment in the state budget often address many
different purposes Cycle of capital investment projects in the State Budget
Cycle of a project funded by the state budget are the steps or stages that a project must go
through when starting from the new project is intended to be completed when the project
termination activities. We can illustrate the project cycle under the following model

Model 1.1: The cycle of capital investment projects in the State Budget
1.2 Efficiency of investment projects funded by the state budget capital
Preparation of

on of
Operation of

investment results
The idea of
new projects

The idea of



1.2.1 The concepts
Hiệu quả dự án ñầu tư bằng vốn ngân sách nhà nước là mối quan hệ so sánh giữa các lợi
ích trực tiếp và gián tiếp mà nền kinh tế xã hội thu ñược so với các chi phí trực tiếp và gián tiếp
mà nền kinh tế xã hội phải bỏ ra trong quá trình thực hiện dự án
1.2.2 Methods for evaluating the effectiveness of investment projects funded by the State
a. Methods evaluate the effectiveness of financial
Effective method of evaluating project financial analysis techniques applied cost - benefit
(CBA). This technique was developed from the theory of financial investment
b. Method of assessment of the economic efficiency of investment projects.
Effective method of evaluating project financial analysis techniques applied cost - benefit
(CBA). Including an economic price (shadow price) is used to calculate the economic
efficiency norms. Worldwide, the CBA technique is most commonly used in the analysis /
evaluation of investment projects
c. Methods evaluate the social effectiveness
For many projects, especially projects of state social in nature, besides financial
performance and economy, should assess the social effects of the project. In the calculation of
economic efficiency, the environmental impact and social assessment through the benefits and
costs arising from the impact. If costs and benefits can be quantified and economic valuation,
just internalize that effect included in the model and evaluate the effectiveness economic.
1.2.3 The criteria evaluate the effectiveness of capital investment projects funded by the
State Budget capital. The criterias for evaluating financial performance
a. Profit criteria.
It is determined based on the set ratio of annual net profit on capital. This rate is usually
calculated only for a year, usually a year production capacity. But it can also be calculated for
the level of use of different production capacity, or for different years in the start time. There
are two rates of return on total capital employed (total investment of the project) and on capital,
usually of the interest.
b. Payback criteria
Payback period is the number of years required for project activities and depreciation
profits earned enough to repay the initial investment. The criterias for evaluating social-economic efficiency
a. Criterias impact of investment projects to economic growth.
To assess the impact of investment to economic growth of a region, a local, through
criteria such as target ICOR, or through econometric methods econometric models.
ICOR = The investment capital of projects / GDP growth
The impact of capital investment projects in the state budget impact to economic growth
is to determine the relationship between capital investment in projects, in a period at the rate of
economic growth. To determine this relationship and to quantify the effect of the investment of
state budget project we use econometric methods to evaluate the effectiveness of investment
projects funded by the State Budget boost economic growth. According to the theory of
economic growth, including investment capital factors have a significant place for the general
model GDP = F (Capital investment by the State Budget). On the basis of collecting statistics
on investment from the state budget for the project and the value of GDP over the period, the
construction of mathematical models with economic variables and the variable data ,


estimation, appropriate testing for positive results are important for evaluating the effectiveness
of investment projects funded by the State Budget for GDP growth
b. Criterias impact of investment projects to the restructuring of economic.
To assess the impact of capital investment projects in the state budget to economic
restructuring, are evaluated by comparing the relationship between investment structure and the
transformation of economic structure in certain period with the orientation and efficiency of
investment in each sector.
c. Criterias impact of investment projects to create jobs for workers
Impact assessment of investment projects by the State budget capital in creating new jobs
for workers involved tend to use more capital investment or labor-intensive use. To assess the
impact of the project on labor and employment could be considered both absolute indicators
and targets that relative is: Target number of employees employed by the project and the target
number of employees employment activities per each unit of capital.
d. Criterias impact of investment projects to strengthen technical facilities of the
Measured in value of fixed assets increased during the period of the project using funds
invested by the State Budget. To evaluate the efficiency norms on strengthening material base
of the economy people have used the method of comparing the fixed assets value added of the
projects using State budget capital to the total value of fixed assets increased during the
calculation will be used to evaluate. Mobilizing factor fixed assets = Value of fixed assets are
mobilized to complete the year / total capital investment in.
e. Criterias impact of investment projects to income distribution and social justice
This is an important indicator, it helps evaluate the project's contribution to the
implementation of the target distribution and determine the impact of the project to the
regulatory process income groups and the territories. The essence of this criterion is to examine
the value of the project and associated projects (if any) will be distributed to the different target
groups include those employees, who benefit profits, state or between the territories of how, if
it meets the goal of economic development or social. To assess the impact of capital investment
projects in the state budget to social justice, we mention three common index measuring
inequality is: The Gini coefficient, Theil's L index, and Theil's index T. Following two
indicators are part of a set of "general inequality index entropy-geneal," so called Theil L GE
(0) and Theil T called the GE (1)
f. Criterias impact of investment projects to increase savings and foreign currency.
To calculate this indicator to calculate the total foreign exchange earned savings and then
subtract the total cost of foreign currency in the process of project implementation.
g. Criteria impact assessment of investment projects to international competition (IC):
This criterion for evaluating the competitiveness of products produced by the project on the
international market
h. Criterias for evaluating the impact of investment projects to the ecological
Methods to assess environmental impact of projects such as: Method of determining the
cost benefits and methods of network diagrams, the matrix method or the method list of
environmental conditions. In addition we can also use the typical method of analysis, through
the projects selected to analyze the negative and positive of the project on the ecological
environment as they work.
i. Criterias for evaluating the impact of investment projects to contribute to budget


To consider the effectiveness of their contribution to the project's budget, we can use
indicators to contribute to the rate of the total budget invested. This percentage is large, then the
project contribute to effective budgetary and vice versa if a small percentage of the low
j. Criterias for evaluating the impact of investment projects to attract other projects
To measure the attractiveness of the investment projects from the state budget to other
projects, we consider as an investment by the state budget in a locality or region is already
collected project attracted many other participants, the registered capital involved and the
amount of capital investment made to participate in a certain time. Through indicators such as
the ratio between the number of investment projects in the state budget to attract projects drawn
and the ratio between investment projects with capital investment in state budget registered
capital investment of the project attracted, in addition to using the ratio of investment to
projects funded by the state budget for implementation of capital projects to attract.
k. Criterias impact of investment projects to the economic development of local social
and infrastructure
Considering the capacity of the new infrastructure is created from the project, not only for
the main effects which the project but also to affect other projects and the development of local.
1.3 Factors affecting to the efficiency of investment projects funded by state budget
Two groups of factors are contributing factors from the macro environment (macro-
economic environment; political environment, legal; cultural environment - social natural
environment) and the team from environmental factors operational (project Management, the
investment management agency, the project implementation units). The impact of the
contributing factors from the macro environment and operational environment affecting the
efficiency of investment projects in the state budget can illustrate the following Figure 1.2

Model 1.2: Model performance impact of capital investment projects in the state budget
1.3.1 . Group macro environmental factors The political environment
Political and social environment have a great influence to the success of investment
projects. n the political situation unstable: War, protest, strike, strike, the struggle between the
Macro environment
Macroeconomic environment
social and cultural environment
Nature - Environment
Politics, Legislation
The investment



organization of




parties, the forces in society will affect the direct and indirect investment projects from the
period preparation, implementation phase and operation phase of investment projects. Legal Environment
A uniform legal environment, completeness, consistency and stability will greatly effect
the operation of the economy in general and capital investment activities in particular the state
budget. Macroeconomic environment
Macroeconomic environment will affect the investment idea and govern the operation of
the project to facilitate or impede project implementation process. Macroeconomic conditions,
not only creates favorable conditions for the project was born, which effectively operate in a
certain extent may occur investment ideas. The elements of the macroeconomic environment
may have a lot such as growth rate; interest rate, rate of inflation, foreign trade situation, status
of the budget deficit; economic systems and policies the macro state. Social and cultural environment.
Research content and level of socio-cultural research affects the process of
implementation and operation of the investment results of each project can vary depending on
the nature of business activities and objectives of each project project. Natural environment and natural resources can be exploited for the
implementation of projects.
Depending on the project, which the natural environment will be studied under different
levels to ensure the success of each of the investment.
1.3.2 Factors environmental operational of projects Management of investment projects.
The role of management organizations are present when the project began to form in the
idea of an investment project and continue throughout the implementation and operation of
investment results, and arrested its role through effective early stages of the process of
establishment and management of investment projects The agencies management of investment projects
The combination of investment management agencies great influence to the management
of investment projects. Coordination of agencies and good management of the evaluation, the
project approval process is done fast, clearance work is done quickly, the project was started
early and soon put into operation improve the efficiency of the project. The organizations directly implement projects.
The unit directly implement projects including contractors and consulting organization.
This is the main factor for the construction of facilities projects, affect the good and bad quality
of the project, which from that affect the efficiency of investment projects.
1.4 . International experience of raising the efficiency of investment projects funded by
state budget.
1.4.1 China's experience on the management of public investment projects
Promulgate regulations establish the feasibility study include the following contents: the
need for construction, size, performance, ability to meet the capital, the desired effect. Model
"building representative" was born to encourage the separate stages of "investment,
construction, management and use", promoting the mutual agreements processing stage.
Establish the accountability and widely practiced mode question of responsibility.
1.4.2 Experience from abroad on the form of Public Private Partnership (PPP)
In China shares model, the preferred form is applied in China to cooperate with the


government through private shareholding company.
Korea: Consistency of policies, Korea began its PPP program in 1994 with Law
promoting private investment for social capital. In addition, Korea also encourages the
development of PPP in the tax exemption of value added.
1.4.3 The lessons for Vietnam
Strengthening state management of investment projects: promulgate appropriate policies
and laws and strictly implement policies. Coordination between state investment and private
investment in the project investment. Construction PPP model in Vietnam should consider
various factors on the historical elements, social - economic circumstances

Chapter 2:
2.1 The socio-economic and political characteristics impact of nvestment projects funded
by the State Budget capital in Bac Giang province
2.1.1 Geographical location and natural conditions
Bac Giang is a mountainous province is re-established under the resolution of the 10th
session of National Assembly 9 of 9 districts of Bac Giang province and a city which has 6
districts and 01 mountain district (Son Dong district) areas with high total of 229 communes,
wards and townships. Compared to the northern mountainous provinces, Bac Giang is located
relatively favorable geographic.
2.1.2. Socio-economic characteristics.
In recent years, the pace of economic growth of Bac Giang province reached 9.3% this is
an encouraging result for a difficulf mountainous province. The trend of economic restructuring
in Bac Giang province over the years have positive level shifted towards increasing the
proportion of industry in GDP. The proportion of agriculture in GDP declined from 39.83%
Bac Giang in 2006 to 32.5% in 2010, corresponding to the share of industry increased from
25.24% in 2006 to 33.6% in 2010. however, the service sector decreased from 34.93% in 2006
to 33.9% in 2010, this is not commensurate with the potential of Bac Giang province.
2.1.3 Overview of the management of investment projects funded by the State Budget of Bac
Giang province.
In recent years, most investors built on Bac Giang province implement the management
model of investment projects with capital budgets based on the function, relationships and
powers shall be recorded authorities in decisions on the investor and tasks based on the facts
available to the system of their organization, along with the development process in each period
with appropriate adjustments. In practice however, most projects funded by the state budget in
the province of Bac Giang in the model after:


Model 2.1: The organizational model management of investment projects by State budget
Bac Giang province

2.2 Situation efficient investment projects funded by the State Budget capital in Bac
Giang province.
2.2.1 Investment capital for projects. Investment capital for projects
Total investment made whole society in the province of Bac Giang period 2006 - 2010 in
current prices is 30 502 billion. In the last 5 years invested socio-economic development of the
province has increased 221.5% (2.21 times), the increase in average annual investment is about
26.2%, the investment ratio to GDP maintain approximately 51.1%. Capital growth through
investment in the province in the period 2006 to 2010 with the changes in the direction of
increasingly slow, while growth of the country is almost less volatile in the period specific : in
2006 the highest growth rate reached 46%, in 2007 was 27%, in 2008 was 36%, 18% in 2009,
in 2010 only 8%. In 2010 capital growwing reduction is partly due to reduced policy limits the
investment of state for projects on State Budget. At current prices the total social investment
has continuously increased over the years from 2006 to 3684 billion in 2010 to 8163. Capital
investment to GDP of Bac Giang province is much higher than the country in 2006 with an
investment of 41.6% in 2007 was 44% in 2008 was 51%, 58% in 2009 to 2010 was 56 %. Investment capital of the projects fund by the state budget
State budget capital investment for projects in the five year period from 2006 to 2010
accounted for 30.2% investment in the province, with 15.45% of GDP in the province in which
the state budget due to capital local management of investment accounts for 15.9% of total
provincial investment capital, with 8.12% of GDP; The state budget funds by central
management accounts for 6% investment in the province, with 3.08% of GDP government
bond investment accounted for 3.9% of the province, with 1.99% of GDP; Non-refundable
ODA managed by the province accounts for 3.7% investment in the province; by 1.87% of
GDP preferential credit capital invested 0.8% of total provincial GDP by 0.39%.




Graph 2.3: The structure of social capital in the province of Bac Giang period 2006 to 2010
Source: Department of Statistics Bac Giang province [36] [37]
2.2.2 Situation efficient investment projects by the State Budget capital.
In the 5 year period from 2006 to 2010 Bac Giang province has made investment by 189
investment projects in the State Budget with a total realized capital of 10,198 billion VND in
which the number of completed projects are: Project 108 ; number of projects being
implemented are: 70 project has not started projects are: 11 projects. Specifically capital
investment by the State Budget has seen a significant increase from 1009 billion to 2233
billion, the growth rate is 221%, concentrated in investment projects in Group B and Group C
has 74 projects group B has a mass investment of 3,399 billion VND, accounting for 36.8% of
total investment, 110 projects of group C have mass investment of 4492 billion, accounting for
48.68% of the total investment projects in Group a with nine volumes of investment capital is
1,337 billion, accounting for 14.49% of total investment. The volume of capital investment
over the years tended to increase, the average rate in the period 2006 - 2010 is 27%. In the
period, there were completed 108 projects and put into use in which 02 projects of group A.
According to statistics in the province of Bac Giang, projects with capital investment
budget for the period 2006 - 2010 was an important contribution in strengthening the material
and technical basis of the provincial economy, is expressed through the results of specific
industrial projects and construction, transportation projects and projects of agriculture and rural
development, health projects, project information culture - physical education, sports, trade and
tourism, education projects and training, and management projects in the state, the security and
defense projects, projects for urban development.
2.3 Evaluate the effectiveness of investment projects funded by the State Budget of Bac
Giang province.
2.3.1 The achieved results Attracting investment projects increased budget and mobilize resources for
economic development in the province.
With funds from the provincial budget has made investment in industrial parks have
gradually attracted a large number, the fast growth of the number of projects and registered
capital investment projects from the countries and regions in the world and large corporations
in the country to participate in investment in the province. Specific: In the period has attracted
66 investment projects with foreign direct from a registered capital of 613.5 million, bringing
the total number of projects of foreign direct investment to 93 projects, with some registered
capital of nearly USD 785 million. Attracted 318 domestic investment projects with total
registered capital of 18,750 billion, up 2 times compared with the period from 2001 to 2005. At
the same time there are 17 ODA projects are being implemented, with a total investment of 611
billion VND, 82 aid projects using foreign non-governmental organizations (NGOs), with


commitments worth $ 8.7 million.

Graph 2.4: Number of projects and total registered capital investment in the province of
Bac Giang
Source: Department of Planning and Investment of Bac Giang province [31] Some projects have good effects contribute to protecting the environment.
In Bac Giang province, the capital projects in the state budget had a positive impact on the
environment is the typical afforestation project is a project on planting 5 million hectares of
forests, the waste treatment project, the water supply project. These projects are of great
importance in preserving and protecting the ecological environment, natural environment. In
this part of thesis will select case studies for health waste treatment projects to evaluate.
Healthcare waste disposal project to be deployed in phase (2005-2008). After more than 4 years
of total investment projects total budget of the project: EURO 1,006,763.00, of which:
European Community funding: 745,004.62 EURO (74% of total budget); provincial budget for
local applications: 217,338.38 EURO (22% of total budget), non-government organizations
funded: 44,420.00 EURO (4% of total budget). Project medical waste Bac Gang is the
reciprocal of a fraction of the capital budget, the rest are non-refundable ODA capital of the
European community organizations and non-governmental organization funded shall not be
returned. The impact of investment projects to increase revenue.
Budget revenue for the period 2006 - 2010 is a high growth rate, average rate of 27.2%.
Specific levels of revenue in the period as follows: 2006 revenue reached 628.3 billion budget
in 2007 is 728.7 billion, in 2008 was 836 billion, in 2009 was 1010 billion in 2010 is 1730
billion. Contributing to the increase of budget revenues was mainly due to investment by
enterprises investing in industrial zones, the business corporations, domestic and foreign
investment implementation in Bac Giang. The number of land-use charge of contributing
businesses in the area are mainly enterprises based industrial parks in 2010 was over 300
billion accounts for most of the increase in revenue. The impact of the project to technical facilities of the economy and building
socio-economic infrastructure, stable life of people.
Generally more than 5 years, the projects invested by state budget has contributed
significantly to the enhancement of facilities for the economy with the average rate of 22.5% of
total property value fixed annual increase of Bac Giang province, of which capital budget funds
from the provincial government contributed 16.3% 2.6 times increase in fixed assets by the
central budget project done on Bac Giang province. Due to projects funded by the annual state
budget that some sectors in the province such as electricity, industry, agriculture has developed
rapidly, contributing significantly to economic growth of Bac Giang. Particularly the power
industry for decades to develop new electricity industry in 2006 made 73.5% of communes


have electricity until 2010, then all the communes in the province have been provided sufficient
grid. Has completed upgrading 79 km of national highways and provincial roads, and new 123
km, 500 km hardened rural roads, 180 km of canals, with the value of performance is 265
billion, of that people contribute 131 billion, bringing the total line length is far reaching
hardened 3385 km, accounting for 47.2% of rural roads, contributing to social and economic
2.3.2. restrictions. The impact of investment projects funded by the state budget capital is not
much to economic growth.
In fact variation ICOR of Bac Giang province each year tend to correspond to the buildup
of economic growth in the province during this period. Generally during the period 2006 -
2010, the province's ICOR is 6.8 lower than the national. ICOR above is not suitable because in
2006, 2007 has many new investment projects, large-scale implementation. In 2005, 2006 the
project went into operation as the economy has a high growth rate in 2008 reached 9.1%
economic; 2010 economic growth rate at 9.3% but the year ICOR 2010 was 7.6. This result
showed that ICOR Bac Giang province demonstrated increasing levels of investment increase
may impact the economic growth in the province. On the other hand to quantify the effect of
projects on the economy of Bac Giang we apply the economic theory of the basic inputs affect
GDP including:
GDP= f(I)= e
Get the log base e two sides of (*) we have model
Ln(GDPi)= β1+β2Ln(Von_NSNNi) +Ui (**)
Data analysis Von_NSNN and GDP (Table 10.4 in Annex 01) show that the coefficients
(Skewness, Std.Error of Skewness, Kurtosis, Std.Error of Kurtosis) are quite reasonable level,
the value is allocated standard and size of data to assess eligibility.
Std. Dev = .21
Mean = 7.98
N = 20.00

Std. Dev = .42
Mean = 6.06
N = 20.00

Graphs 2.5 and 2.6: Distribution of frequency of quarterly GDP and Von_NSNN 2006-
Estimated model
Using SPSS 11.5 with the smallest squares method and the data in Table 4.10 Appendix
01 to estimate the model (**). By the end results of inspection of said stopped time series,
model estimation results are as follows:

R R Square

Adjusted R Square

Std. Error of the Estimate

1 .912(a) .832 .823 .08742
a Predictors: (Constant), Ln(DNS)


Model Sum of Squares Df Mean Square F Sig.
1 Regression .682 1 .682 89.222 .000(a)
Residual .138 18 .008
Total .819 19
a Predictors: (Constant), Ln(Von_NSNN)
b Dependent Variable: Ln(GDP)
T Sig.
B Std. Error Beta
1 (Constant) 5.262 .289 18.218 .000
Ln(Von_NSNN) .449 .048 .912 9.446 .000
a Dependent Variable: Ln(GDP)
Model results: Ln (GDP) = 5.262 +0.449 Ln (Von_NSNN) + e1
By testing White, Ramsey, and Godfrey Breussch-normal distribution of residuals for the
model can trust. By inspection of the zero of the regression coefficients, are the conclusion of
the regression coefficients unequal zero. The results for our estimates of the elasticity
coefficient Von_NSNN marked positive expectations. Since then we have a comment: When
Von_NSNN increased 1%, the GDP increased to 0.449%. This suggests that, when GDP
increases, Von_NSNN also increased, indicating that the results obtained are consistent with
economic theory, that is when the investment increases, GDP increases.
Coefficient R2 = 0.912 for Von_NSNN explained variation is 91.2% of GDP, the
relationship between Von_NSNN and GDP is rather tight, showing close relationship between
capital investment from state budget value of GDP in the period calculated.
Conclusion: The relationship between capital investment from the state budget for
economic growth of Bac Giang fairly closely. However, despite the amount of capital
investment budget of the projects in the province were mobilized and put into the annual
development investment over the project is quite large (average 2006 to 2010 period, the
province's budget accounts for 33% of the total investment capital of the whole society of the
province, equivalent to 17% of GDP) but the investment performance of the budget is not high,
not much impact on economic growth in the province (capital investment from the state budget
increased by 1%, the GDP growth was 0.449%). Less powerful impact to economic restructuring.
For services provided by the project focused on office buildings and the infrastructure has
made the growth of this industry led to lower share of industry in GDP continuously over the
years from 34, 93% in 2005 down to 33.9% in 2009. This trend is worrisome because it will
become factors hindering economic development. Service is an integral part of the economic
structure because it serves as a surface for supporting the material production sectors, on the
other hand it is a component of economic growth. The economic structure of Bac Giang
province in the year made the graph 2.6.


Graph 2.6: The structure of economic activity of Bac Giang province
Source: Department of Statistics Bac Giang province [36] [37] The impact of capital investment projects in the state budget to create jobs for
workers not so high.
Case study: using the SPSS 11.5 statistical analysis of capital investment projects in the
state budget in the agricultural sector in the province of Bac Giang province (Table 4.9 -
Appendix 1). Method modified by logarithm base 10 value investment projects funded by state
budget and number of employees created a normal distribution of sample statistics
Model: Lg (labor) = β0 * lg (Von budget) + β1 + ei
Determined using SPSS Regression model of labor under capital investment by the State
Budget capital: To assess the significance level α = 0.0005 for consideration whether or not the
relationship between variables Lg (von state budget) and Lg (labor) shows: Verification by
means of Chi-square results value P-value <0.0005; therefore it is confirmed that there is a
correlation between labor and capital invested by the State Budget. Determine regression.
Realizing the observed value P-Value is significant (P-Value <0.0005), so the model can
confirm: Lg (labor) = 1.067 +0.054 * lg (Von NSNN).
Model that for each 1% change in investment from the state budget will lead to changes
0.054% of new jobs created.
Thus, it can be concluded from the capital projects the State Budget impact on growth not
so high labor employment in agriculture. The impact of the project to increase export turnover.
Period 2006 - 2010, Bac Giang has no policy to support investment in production of
agricultural goods for export and investment incentives for the project export processing. Most
investment projects during this period is mainly for import substitution. Some businesses
produce goods for export but uncertain market. Bac Giang have not developed programs to
invest in production of major export commodities to 2010, the percentage of the value of goods
produced locally is exported only 18.3% of total exports in the local search table, in fact
conflict export tax exemption should not contribute to the provincial budget revenues, while the
provinces need to increase their revenues. The impact of the project to improve the competitiveness of the products.
In recent years, the projects funded by state budget in the province have contributed to
improving production capacity and competitiveness of its products through technological
modernization of enterprises manufacturing, construction, textiles, fertilizer, the village but
still not meet the requirements of the integration process, there are some field changes more
slowly than the country. Not so much impact of the projects for economic development in poor areas.
In Bac Giang province now has 7 districts of the 10 districts are poor areas, accounting for


81.5% and 67.6% area of the province's population. In recent years the attraction of foreign
investment in poor districts is negligible, while the capital of the state budget is not adequate
for this area. With policies to support a percentage of the total investment of the project on the
basis of acceptance of completed construction and installation volume to invest in rural
infrastructure (rural roads, canals, schools), the remainder contributed by the people has made
high-income areas get more support on poor sites. Applying the Gini coefficient and rate of
application of the difference richest and poorest. Through the evaluation results of the projects
funded by the state budget has impacted social justice but not so high concrete manifestation of
the Gini coefficient, as well as the ratio between poor and rich groups in disadvantaged areas in
the province has been shrinking slowly changing in a positive. The impact of some of projects on the environment is not good.
Survey results of the environmental impact of projects funded by the State Budget in the
fields of industry in Bac Giang province showed that the project does not have any effect on the
environment; 15% project has a very bad influence to the living environment, natural
environment, and 33% negative impact projects, but not significantly acceptable, 52% of the
projects impact normal. The Department of Natural Resources and Environment of the
province in the implementation and operation of investment projects, 57% of investors do not
fully comply with regulations on environmental fuses; 42% of investors are evaluated is quite
adequate performance; only 1% is considered very complete implementation.
2.3.3. The reason of restrictions. Objective reasons.
a. Policies regimes on project management is inadequate, uniform and reasonable.
Policy regime of the state of construction issued late, missing, limiting the asynchronous
implementation at all levels of industry. On the other hand the state capital regulations are not
uniform, there is overlap between the Investment Law and Bidding Law. Paragraph 1 of Article
4 Bidding Law determined: State capital budget includes the state capital, credit capital
guaranteed by the State, the investment credit capital of the State's development, capital
investment and development of enterprises water and other funds managed by State. And
Section 10, Article 3 of Law on Investment shall determine: State Capital is the investment and
development capital from the State budget, credit capital guaranteed by the State, the
investment credit capital of the State Development and investment other State.
b, Lack of incorporating inter-agency in management and project implementation.
The combination of the Agencies in Bac Giang province in the project management in the
province is not good at one stage of the project in phases as the project preparation and project
approval, design approval total estimated cost accounting. Also the combination of the agencies
in the capital payment as between investors and project management agency, the State Treasury
in a number of projects to be withdrawn slowly into the state budget at the end of year use of
c, The development plan is not completed and uniformed.
In fact planning has not really one step ahead as a basis for determining the site for
construction investment projects should not a few large projects, the State's important when
making decisions about investment policy has escaped so inaccurate planning. Quality planning
is still low, fairly common phenomenon is the lack of coordination in the department work as
planned for the lack of roads combined power grid, water supply and drainage work leading
to overlapping , breaking over and over wasting hundreds of billion for investment preparation,
preparation of construction to be lifted following a fairly common phenomenon.


d, Investment policies.
The wrong reason in investment policies at all levels of industry, local is because: The
discussion, consideration and calculation aspects of economic efficiency, social efficiency,
investment environment is superficial lack of specific guidelines when deciding on heavy
investment was run by movement of achievement, in the form of the desired structure are industrial
investment industrial development should be a forced low investment efficiency , or ineffective,
such as the project aquaculture systems, farm produce markets project Luc Ngan Subjective reasons.
a. Our investment management organization construction are still slow innovation.
Investment management organizations are not really interested in the investment
supervision and evaluation of project performance. Over the years made a significant
investment of funds but we do not have a complete evaluation project and thus no basis for the
investment directions in the future as the socio-economic development of the country will
require more time than the non-structural solutions, friendly environment. The implication for
community projects is still limited. Information about the project was not to benefit the
community as well as affected and to receive the feedback process. Responsibilities of a
number of investors, a People's Committees of districts is not high, no due attention,
particularly the monitoring, update information and reporting in accordance. The work is not
regularly inspected for the project, not strictly sanctioned in the past although the audit and
inspection of a number of projects that the violations occurred in the early stages in sequence
b, The capital plan is still inadequate, inconsistent with the actual project implementation.
Awareness of planning investment projects funded by the State Budget of some districts
still weak; tasked with advising the proposed allocation of capital plan projects not properly
functioning, professional duties, not to the right audience. The allocation of capital for other
projects spread, many projects are not completed on time. Plan capital construction lacking a
priority to limit the promotion and exploitation of an investment project to be effective, a
project funding plan did not meet the construction schedule.
c, The compensation clearance in some projects are difficult.
The compensation and ground clearance for the project was were difficult in some
projects. The implementation of compensation, the compensation clearance were difficult due
to the perception of a part of the population are limited, claims a higher price regulation, or
accept compensation plan. During the implementation of site clearance compensation, the
coordination between the departments, agencies, investors with all levels of government,
unions in some places is not good.
d, Formulation, evaluation and approval of technical designs and total cost estimates in
some projects is not good.
Unquality multiple project files, profile design, project planning time prolonged, when
editing takes more time to affect the progress of the project. Some projects also estimate
making slow, estimates were adjusted several times as project specific Huyen Quang to adjust
the total investment to 3 times, while not explored up, not to mention or not anticipate the
project arising.
e, The selection of

The investor capacity, the team of experts bid evaluation is limited, making the
prerequisite of bidding documents is not appropriate, because there is no clear basis for
evaluating accuracy of bids, as limited institutional equity and transparency in the bidding. The


professional bodies have not been to advise the provincial People's Committee to promulgate
regulations ability to participate in bidding contractors, construction Bac Giang province, not a
list of principal contractor capacity, implementation poor quality projects, extending the
construction period to the public on the Website. The rate of restricted bidding over the years
as follows: in 2006 was 63%, 51% in 2007, 2008 was 56.1%, in 2009 was 46.8%, 45.3% in
2010. Restricted bidding brought low efficiency, competitiveness is not high, down low
bidding price, easy to generate the alignment of the contractors involved.
f, The capacity of the


on behalf of

the investors
this shows



stage from

project preparation


project implementation.
The project management on behalf of professional investors is not high, not enough
qualified staff to perform their duties. The capacity of the investor's agency is limited by the
rules and regulations of operating the system. Some departments also carry out the work
according to very old thinking though investment environment (institutions, policies ) to be
renewed every day.
g, The

capacity of

a consultant



has not

met the


in both quantity

and quality
The consequence of



direct effect

on the progress of

the project

as well as

and efficiency of

h, Progress of construction


, payments


construction units

Progress of construction of new residential projects and the lease business slow down,
affecting the socio-economic efficiency of the project. Disbursements are put on the end of the
typical popular. In the stage of investment implementation happens also to raise the price of
acceptance of payment, supervision is not tight, do not stick to the scene, loss of capital in the
acceptance stage makes the double damage because from the stage of acceptance is incorrect,
the contractor illicit profits from state funds.
i, The settlement of project
investment capital
has been slow.
In recent times, the cause of the settlement is delayed due to the observance of regulations
on management of investment and construction, contractors and investors and a part of the
management bodies of the provincial investment. Another cause is the lack of accountability
constraints, economic constraints of the investor, the investment management and other
management agencies related to the settlement investment capital.


Chapter 3:
3.1. Orientation of development investment from the state budget capital in five years
3.1.1 Orientations and targets socio-economic development in 2011-2015 The dominant outlook to develop socio- economic in Bac Giang province in
Active mobilization of resources, effective exploitation of the potential advantages of
local, strongly encouraged the development of economic sectors to accelerate growth and
economic restructuring, labor structure in the direction of industrialization and modernization.
Maintain high growth and sustainable development based on increasing labor productivity and
improve competitiveness of the economy, economic integration initiative in 2015 to strive to
increase GDP by 1.7 times at least per capita compared to 2010, narrowing the gap with
national average. The overall objective.
Mobilization and efficient use of resources and actively attract investment and promote
the potential advantage to accelerate growth, economic restructuring towards industrialization
and modernization, sustainable development. Promote the development of industry and
services, tourism, export and to increase budget revenues. Increase investment in infrastructure
construction, improve the quality of urban growth rate of urban population. Improving the
quality and efficiency of agricultural production goods, development of cottage industries, rural
activities associated with construction of new rural.
The specific tasks.
Focus for industrial development to promote growth and economic restructuring, labor
structure. Focus on improving the investment environment and giving priority to attracting
manufacturing projects electronics tech. Promote the mobilization of resources for building
infrastructure systems in sync, especially transportation systems, irrigation, electricity, water
supply and drainage. Infrastructure development, improve urban quality of Bac Giang city,
gradually modern upgrades make some town into the town was approved to continue the
planning and building a number of towns, small quarter, and increase the rate of urban
population. Implementing the program of the national target of building new countryside,
planning, infrastructure construction and socio-economic rural standard synchronized new
countryside. Striving to 2015 income of rural residents increased 1.8 to 2 times compared with
2010. The major economic criteria.
Set objectives is economic growth rate of GDP five years from 2011 to 2015 increased
from 7-8% / year, of which: value-added agriculture, forestry and aquatic products increased
from 2.7 to 3, 7% / year; value added industry and construction increased from 7.5 to 8.5%,
value added services increased 8-9% (in the process of managing the implementation plan if
international conditions and domestic favorable, striving for economic growth to over 8%). The
size of GDP at current prices in 2015 about 5130 -4170 thousand dong, approximately $ 200
billion, per capita GDP reached 2,100 U.S. dollars, 1.7 times compared to 2010.
3.1.2. Orientations for development investment.

21 Orientations for development

Investment in infrastructure development economy and society. Priority capital
investment from the state budget, government bonds for poverty alleviation, job creation,
building medical facilities and care for people's health and social cultural field other Assembly.
Increasing investment in the areas of environment, prevention of air pollution, water resources,
protect ecological environment, ensuring sustainable development. Concentrate more
investment for national target programs, targeted programs. Attract maximum private
investment funds, investment companies of foreign direct. Orientations for investment in some primarily sectors.
With the orientation for a particular industry, including investment in industry, agriculture
and rural infrastructure development of transport, the development of science and technology,
developing education and training, investment in health, environmental protection investment.
To achieve the objectives of the industry, the demand for investment capital of the province
should be mobilized 72,969 billion investment capital social development, 2.5 times compared
to five years ago, the average annual to mobilize 14,594 billion for investment projects.
3.2. Orientations for the management of investment projects in Bac Giang province in

Forecast affecting factors to the management of

investment projects in

Bac Giang
The trend of reinvestment.
Currently, the state is largely responsible for implementing reinvestment form, namely:
Restructuring of investment, restructuring the sectors and areas of investment and improve
investment efficiency. estructuring must be accompanied by investment in the restructuring of
public finances, including revenue and State budget. Priority focus on the restructuring of the
investment from the state budget is focused on infrastructure and economic and social
mechanisms for approval, monitoring. Specifically, the restructuring of capital investment
should soon identify functions and tasks of the State economy in a market economy, the State
sector should invest, what areas associated with private investment.
The trend of


in Bac Giang province.
Industrialization is an inevitable process of development, the process is rapid or slow
depending on many factors, subjective and objective. Urban Development if not controlled will
lead to spontaneous inflicting unforeseeable to the management of investment projects in
general and the management of investment projects with state budgets capital in particular. Do
some form of industrial parks have attracted many workers, this problem requires the province
in the near future to make a very large number of investment projects to upgrade and renovate
the technical infrastructure , social infrastructure to meet the growing needs of people. So, with
the large number of investment projects in the future, Bac Giang province will face difficulties
in management; difficulty of balancing capital sources to implement the investment projects;
Difficulties due to limited human resources in the implementation of the management of
investment projects.
Development trends


possible applications

of scientific

technical and

new technologies


the management of

investment projects.
Trends in technological development in the world today takes place rapidly in many
areas. The technology trends in the country and the world has and will affect many aspects of
socio-economic life in the province. Progressive scientific and technological have impact so
much on the management of investment projects.


3.2.2. The target of investment projects management funded by the state budget capital in
Bac Giang province period 2011 – 2015.
Investment capital

for projects


the state budget capital.
In order to ensure the average growth rate of the province under the plan during the period
2011 - 2015, need to mobilize capital investment of approximately 18 trillion, capital social
development, more than 2 , a five times higher than the previous year, on average each year to
raise 3.66 trillion, this is a big challenge for Bac Giang province. In the following capital
structure: Capital the State budget is 10,300 billion, accounting for 14.1% of the total capital
investment (by the central budget management is 2223 billion, which is 8077 local budget
billion). ODA is 4488 billion, accounting for 6.3% of the total capital investment (ODA
managed by the province is 2406 billion, ODA is managed by the central 2182 billion).
Government bonds is 4.4% 3,201 billion in total investment. Preferential credit capital
investment 220 billion, accounting for 0.3% of total investment.

projects funded

the State

budget capital.
In 5 years, should make the maximum capital from outside sources, and strong
mobilization of resources from the population and enterprises of all economic sectors and to
channel capital from mining stock securities for enterprise development. Orientation to the
capital expected above, the period 2011 - 2015 investment projects increase proportionally,
there are many projects with capital growth investment quickly. The goal at this stage there are
386 investment projects.
3.3. Solutions to improve the efficiency of investment projects by the State budget in Bac
Giang province.
3.3.1. Reform amend policy documents, how to manage the investment process.
Complete system of legal documents on management of investment and construction in a
synchronous, uniform and stable, rapidly improve the institutional cooperative public-private
partnership (PPP) in the field of investment projects the province, including perfecting the
organization hired an investment project management by the State budget. Innovate and
improve management mechanism construction costs towards research, supplement, modify
policies related to compensation and ground clearance, especially the people to be compensated
market prices and choose a new place, move the resettlement into different cost housing,
development, encouraging forms of credit instead of the form of investment allocated for
investment projects build socio-economic infrastructure capable of recovery of capital.
3.3.2. Speed up up construction planning and strengthen the management of construction
investment under planning.
Planning must take one step forward and mobilize resources, increase investment for the
construction plan for 2020 master plan may cover the same time ensuring the alignment and
coupling between planning. To enhance the formulation and approval of construction plans,
improve plan quality. Priority allocation of budget funds and mobilization, suggesting other
sources of capital for general planning, detailed planning for urban construction, network
planning and rural residential zoning details rural population, to ensure construction planning
must take one step forward as a basis for the introduction of location, zoning certification,
examination and approval of investment projects and building permits. In the immediate
selection of regionals, which need investment in construction and urban development priorities
to focus on building planning. Ensure consistency between the plans of the provinces, the
regional planning with industry planning and development planning in the country. Raising the
legality of the plan approved obey investment management under planning.


3.3.3. Improve the process of formulation, appraisal and approval of investment projects.
The preparation of investment projects to identify the specific content such as: Determine
the necessity investment to develop and promulgate criteria investment rate in order to
determine accurately the total investment targets of the project as a basis for cost management
of projects in preparation investment. For projects that do not have investment rates should
clearly identify each type of method of determining the total cost of investment. While up to
strengthen the socio-economic information, economic forecasts of supply and demand social
and foreign markets, the standard norms for the project. The project evaluation to determine the
specific authentication method and criteria for a project on technical feasibility, financial and
socio-economic. Terms of competent decision approving the project instead of investment
decisions at that time. The project will be approved after the legal basis for implementation of
investment and also the legal basis for monitoring and evaluating the implementation of
effective investment and investment projects.
3.3.4. Innovation in the management of capital investment projects. Innovation investment management mechanism projects funded by state capital.
To clarify responsibilities and powers of other entities directly involved in the
management and use of capital investment, the agency assigned state capital owner. Can form a
focal point to focus on the General Manager or the state capital, but in the current step in the
transition state capital owner is the Ministry, the People's Committees as assigned but not there
are some departments and management of state capital projects, the agency has the task,
independent powers, but its vertical is the General Directorate of State management of capital
or the state capital management. This agency is the Ministry, the People's Committee assigned
to the state on behalf of "the state capital owner" is responsible as a "boss" to manage all
projects from the state capital budget. Innovating planning the investment capital.
Based on investment plans and long-term scheduling of investment priorities to
implement the investment preparation work as a basis for allocation of annual investment plan.
Thus an investment of state budget funds for investment preparation. The layout has plans to
invest as ascertained and the ability to put capital investment plans of the project has sufficient
investment procedures as prescribed, and decentralized implementation of any level operating
principles better, empowering it to grant the operating plan initiative and take responsibility for
their decisions. Specifying the responsibilities of each level in the allocation of investment and
investment decision makers, synchronized planning at the provincial scale, close coordination
between agencies to sort list plan and schedule for the project's priority sectors and localities,
delete project status unprepared procedures but was written investment plan. Allocate capital
based on the progress of project implementation and estimation of the approved projects. Allocation of capital sources management investment projects in the state
Decentralising the maximum for the local level in all stages of the investment process.
Level planning decisions are investment decisions for the projects under their management, and
responsible individual and collective decisions of their. Persons competent to decide investment
policy if wrong be responsible for both the professional and project finance for the agencies
responsible for the contents of works. Authorities competent to approve investment projects
only approve projects funded with budget sources under their management. For infrastructure
projects with total investment of large, exceeding the budget capacity due to their management,
should have the support of the budget before approving investment decisions must be approved


level of budget support. Investors must fully account the conditions for the project could be
operational after completion in use at the same time calculated to save investment, consistent
with the level of investment rates, avoid unnecessary waste. Owner is responsible for
implementing a comprehensive project implementation.
3.3.5. To complete the test, control and supervision of the state in the investment project.
Under current regulations, then all the investment projects to be monitored, especially
investment projects by the State budget, the more under control, comprehensive monitoring.
Depending on the specific situation of each investment project can inspect and examine all
stages or phases of the project investment. Develop inspection procedures and control before,
during and after the project investment.
3.3.6. Strengthening and improving the quality of delivery and receipt of contractor.
Bidding are process of implementation contractors meet the requirements of the tenderer
on the basis of competition among bidders. Need to conduct the bidding mechanism in the
direction of shortening the process, set time, submit for approval plans and bidding results.
Needs to produce of mechanisms against bidding too low current, building relationships in the
supply unit supplies and equipment as the basis of evaluation, most notably for equipment.
Must attach importance to the tender documentation, bidding documents to ensure full
information and clear, systematic scale, weight specifications, requirements on implementation
progress, the capacity contractor. Must have specific remedies to combat negative phenomena
in bidding, strictly handle cases of violation of procurement regulations. Should establish an
organization that monitors observance of procurement regulations to ensure a tender offer
living. Expanded form as principal contractor to apply the protocol as planned and contracted
research solutions in the form of lump.
3.3.7. To complete the operating implementation of investment projects Consolidate the management of compensation and site clearance for
The compensation, ground clearance is very sensitive areas of economic and political,
likely to develop negative, wasting, loss of state investment, and slow the progress of the
project, will cause long-term waste. Thus to make savings, reduce losses and waste, preventing
possible negative in the construction process to restore order in the management of land use,
land prices in the area, the licensing of only for households to use land based compensation
plans for clearance for the project construction. Reorganize to implement the principle that the
clearance should be prepared in advance before implementation of the project - complete
clearance new implementation projects. The compensation, site clearance is to build more
content related to social issues, political sensitivity should be the state authorities at all levels
have the responsibility to understand and willing to participate solve local problems. To consolidate and strengthen the management of the unit price, cost estimates
and construction cost.
The formation of prices and costs over the period from the total investment in the
preparation of investment, total cost estimates in the engineering design phase to the final
settlement price in the period of work completed and put into use has been provided in the
regulation of investment management and construction. Situation of of the flaws in the
formulation and management of construction costs still occur in many places, in many works.
To strengthen the management of each stage under the responsibility of each state agency
related to investment and construction, should strengthen price management discipline: Restrict
the unit's own construction works. Agencies assigned to the unit price for the work to be

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