Critical Factors Affecting the Efficient Use of Public Investments in Infrastructure in Vietnam

Abstract

This paper examines the critical factors affecting the efficient use of public investments in infrastructure to support trade and economic development. Investments in infrastructure have increasingly been used to improve the infrastructure quality, thus stimulating trade and economic development in developing countries. Nevertheless, a number of infrastructure challenges faced by developing countries remains. This raises the question about the efficiency in the use of public investments in infrastructure. Based on the case of Vietnam, this paper identifies a number of deficiencies in the planning and policymaking process as well as in the implementation of infrastructure plans. This paper aims to show policymakers that the critical challenge faced by developing countries in infrastructure construction is thus not about the funding but should be more about effective planning and implementation for long-term benefits.