“Public investment should focus on large, strategic, high-priority projects — those capable of shifting the landscape or generating major breakthroughs in science and technology, expanding the growth frontier, and laying a vital foundation for future socio-economic development,” said Dr. Le Duy Binh, managing director of Economica Vietnam, in an interview with The Saigon Times Quantifying the effectiveness of public investment The Saigon Times: Many argue that to achieve high growth in the coming years, investment — particularly public investment — will play a crucial role. Do you agree, and why? Dr. Le Duy Binh: In any economy, public investment is a core component of aggregate demand. Each country has its own way of ensuring that public investment fulfills its role as a growth engine. For Vietnam, the more important question is how public investment can contribute effectively and sustainably to the goal of high growth during this new chapter of national development. First, the economy urgently needs a major upgrade in essential infrastructure to create the physical foundation for growth and expand the growth frontier. Transport, technology, and telecommunications infrastructure — along with energy, water, education, training, and basic social services infrastructure — are all indispensable for shifting toward a […]
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