Public investment was the primary issue discussed at a workshop held in Hanoi on November 29 by the Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment (MoIP).

The CIEM reports that investment from the state budget decreased from 20.3 percent of GDP in 2012 to 18.7 percent this year.

CIEM Director Le Xuan Ba said the incomplete legal system is one of factors affected the effectiveness of public investment.

In order to enhance the effectiveness of public investment management, it is necessary to complete the legal framework soon, Ba stressed.

Economic expert Nguyen Dinh Anh said the restructuring of public investment should go together with the restructuring of State budget on the basis of redefining the role that the State in general and the state budget in particular play in the economy as well as in investment.

At the event, participants also focused their discussion on issues such as the appraisal of public investment projects in Vietnam and the assessment of the effectiveness of public investment. In addition, the relationship between the restructuring of public investment and the overall economic restructuring, and how to manage effectively the field received much attention.-VNA