Public Financial Management in Vietnam: A Study for the Investment in Infrastructure Construction in Vietnam

Abstract

The topic of infrastructure investment is becoming more prominent, to enhance infrastructure quality and support economic and trade development, particularly in developing countries. However, there are still some obstacles that countries confront when investing in infrastructure construction in economic regions, most notably the issue of public financial management. As a result, this study investigates key elements influencing public financial management in the field of economic infrastructure-building investment in 11 provinces in the Red River Delta area. According to research findings, the three most influential variables in public financial management are (i) investment management, (ii) planning management, and (iii) supervision and inspection. Simultaneously, it highlights shortcomings in the public financial management process, presenting recommended remedies with the goal of effective, transparent, and sustainable development.