Politics

Minister stresses improving efficiency of public, foreign investment

Minister of Planning and Investment Nguyen Chi Dung stressed improving the efficiency of public and foreign investment during a Q&A session at the 14th National Assembly’s third plenum on June 14.
Minister stresses improving efficiency of public, foreign investment ảnh 1Minister of Planning and Investment Nguyen Chi Dung (Source: VNA)
Hanoi (VNA) – Minister of Planning and Investment NguyenChi Dung stressed improving the efficiency of public and foreign investmentduring a Q&A session at the 14th National Assembly’s ongoing thirdplenum in Hanoi on June 14.

Responding to concern over inefficient State capitalallocation, Dung said his ministry asked agencies and localities to continuefollowing policies on investment restructuring, seriously comply with legalregulations on public investment and improve planning quality forsocio-economic development.

Units concerned were required to strengthen audit,inspection and supervision of all stages, from screening to evaluating andapproving projects, ensuring that capital allocation suits realities, he said,adding that annual and five-year capital allocation is stipulated in the Law onPublic Investment, under which, the process is set more thorough with morerelevant agencies taking part.

He admitted that the ministry was slow in issuing documentsguiding the implementation of the law, leading to different understanding ofits terms.

According to Dung, slow disbursement impacted projects’efficiency due to big demand for capital.

The minister conceded that the ministry was still unresolvedto ask ministries, agencies and localities to seriously abide by the Law on PublicInvestment, the National Assembly’s resolutions and the government’sdirections.

Asked about solutions to environment pollution, tax evasion,transfer pricing and limited technology transfer in the foreign-investedsector, Dung underscored the importance of further attracting foreigninvestment due to limited State capital.

However, foreign capital inflows will be geared towardsprojects using eco-friendly technology, little natural resources and manpower,he said.

As scheduled, Minister Dung and other Cabinet members willcontinue to answer lawmakers’ questions on June 15 morning.-VNA
VNA
#Minister of Planning and Investment Nguyen Chi Dung #public and foreign investment #Q&A session #14th National Assembly #third plenum #State capital allocation Vietnam
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