Discussing at the conference hall about the draft Law on Public Investment (amended) on November 6, Minister Nguyen Chi Dung gave the above information to talk about the need to change the thinking of law making. Previously, we only focused on management, this time we must both manage and create for development, create new driving forces, new spaces, and clear bottlenecks.
“I asked why it was done so quickly, in so much, and why it was so cheap. They said there were three issues. Among them, strong decentralization to localities, daring to borrow and establish state-owned companies to carry out transport infrastructure projects. After the investment is completed, it is transferred to the private sector for exploitation and capital recovery…” - The Minister of Planning and Investment further analyzed.
Not only building highways - discussed at the Draft Law group amending and supplementing a number of articles of 4 laws (Planning, Investment, Investment under the form of public-private partnership, Bidding) on October 30 - Minister Nguyen Chi Dung also appeared very impatient when giving information: In Dubai, building 500 buildings with a total investment of 20 billion USD in just 5 years; while in Vietnam with current regulations, it would take 1,500 years.
The information provided by Minister Nguyen Chi Dung is evidence of the current "bottleneck" in legal regulations.
If projects are not implemented quickly and are delayed, waste and loss will arise. This waste is evident in many transport infrastructure projects as well as many other construction works. Two projects with an investment of 9,000 billion VND that have been "hotly discussed" recently are the Bach Mai and Viet Duc Hospitals, Branch 2 in Ha Nam, and the Ho Chi Minh City flood control project. All three projects will last from 8 to 10 years.
Investment regulations in laws such as: Planning, Investment, Investment under public-private partnership, Bidding are not suitable, creating obstacles that slow down project implementation, thereby affecting resources to promote development.
Other countries implement construction and infrastructure investment projects much faster than Vietnam because they have a system of open and suitable regulations. That is something that needs to be consulted and studied to adjust the unreasonable things in current policies and legal regulations.
Removing "bottlenecks" in investment-related laws is to free up resources. And doing that is to fight waste in a real and effective way.
