>> Waste found in numerous state-financed projects
>> Prime Minister orders action on thrift
A plan is in place to monitor public investment in Vietnam, which is expected to begin in late 2013.
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| The monitoring system is expected to help heighten the efficiency of public investment |
It is part of a larger IT application project for state-owned agencies that spans from 2011 to 2015, said Mai Huu Dung, Director of the Ministry of Planning and Investment (MPI)’s Informatics Centre.
The project\'s purpose is to build a system that will enhance supervision and assessment of state-invested projects in order to heighten the efficiency of public investment, Dung said.
Apart from technical support, the project will also set up a database of regulations on state investment and provide software updates, he said.
MPI, who is managing the project, said it is speeding up their research. They expect to get approval for their feasibility study in early October this year.
According to a report from MPI, 269 projects, out of the 300 that were scrutinised last year, were halted due to waste.
The report also found that 349, out of around 4,000 projects using capital from other private sources, violated investment regulations. Of these; 249 had their licenses revoked. However, the real number is probably much higher, since the report was based on preliminary statistics provided by ministries and local governments.
