- Project management board under the Department of Industry and Trade: 5 votes
- Project management board under the Department of Transport: 5 votes
- Project management board under the Department of Health: 5 votes
- Project management board of the Department of Education: 5 votes
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- Traffic Construction Consulting Joint Stock Company: 5 votes
- Kim Tin Construction Consulting Company: 5 votes
- Binh Dinh Television Station: 3 votes
- Total: 120 survey forms => 104 valid forms were collected => 100 samples were selected for analysis
1.3.4. Statistical methods
Using statistical regression model (Regresion)
The survey results in Table 2.3 will be analyzed using SPSS software for regression, thereby assessing the impact level of each factor on the efficiency of state budget expenditure in construction investment in Binh Dinh province, indicating the most impacting factor, the least impacting factor, and the impact level of each factor . The analysis results will help the author have a scientific basis for solutions, the solutions will focus on the most impacting factor to comprehensively and fundamentally innovate the management of state budget expenditure in construction investment to achieve state budget expenditure efficiency.
Using descriptive statistics
The survey results in Table 2.4 will be used SPSS software to statistically evaluate the scores of each content in each stage of state budget expenditure management in basic construction investment, the average score (mean), the lowest score (min), the highest score (max). The statistical results help evaluate the best management stages, the weakest management stages, thereby having a reasonable basis for solutions to strengthen state budget expenditure management in basic construction investment in the locality. At the same time, the average score of each management stage also shows us the current status of state budget expenditure management in basic construction investment, thereby pointing out the causes of the current situation to have the best solution to strengthen state budget expenditure management in basic construction investment, contributing to the socio-economic development of the locality.
Chapter 1 Conclusion
The overview of domestic and foreign studies related to the topic shows that the issue of state budget expenditure management in basic construction investment of a country in general and of a locality in particular is always a prominent issue and is of interest to researchers. Later studies inherit previous studies and gradually perfect the theoretical basis to apply to the management and evaluation of the effectiveness of state budget expenditure in basic construction investment. Therefore, through the overview of studies related to the thesis, it can be concluded that the issue: "State budget expenditure management in basic construction investment in Binh Dinh province" is an urgent issue for research. These are also important bases for systematizing basic theories on state budget expenditure management in basic construction investment in the locality in chapter 2.
At the same time, in this chapter, the author presents the research methods applied to study the entire content of the thesis. In particular, the investigation method is applied to survey the current status of state budget expenditure management in construction investment in Binh Dinh province, from which statistical methods are used to quantify the factors affecting state budget expenditure management in construction investment in the province.
CHAPTER 2: BASIC THEORY ON STATE BUDGET EXPENDITURE MANAGEMENT IN BASIC CONSTRUCTION INVESTMENT
2.1. Overview of state budget expenditure in construction investment
2.1.1. Basic construction investment
2.1.1.1. Concept
According to the Investment Law of Vietnam (2005): Investment is the act of an investor investing capital in tangible or intangible assets to form assets to carry out investment activities in accordance with the provisions of this Law and other relevant legal provisions.
“Investment is taking an accumulated amount of money and using it for a certain purpose in order to later receive a larger amount of money” [25, p.14].
“Investment is the process of using current resources to carry out activities to achieve results and achieve certain goals in the future” [34, p.11].
According to the Vietnamese Encyclopedia: “Investment, in macroeconomics, refers to the increase in capital to increase future production capacity. Investment, therefore, is also called capital formation or capital accumulation. However, only capital increase that increases material production capacity is counted. Capital increase in the financial and monetary sectors and real estate business is excluded. The increase in private capital (increase in production equipment) is called private investment. The increase in social capital is called public investment. Although investment increases production capacity (the supply side of the economy), the export of capital for investment is counted in aggregate demand. Private investment I and public investment G are important factors forming aggregate demand Y in the equation: Y = C + I + G + X - M (where C is personal consumption, X is export and M is import)”.
So, although the above concepts have different interpretations, they have the same meaning: investment is the act of investing capital to carry out certain activities.
determined, hoping to get results and achieve certain goals in the future.
Basic construction is an activity with the function of simple reproduction and expanded reproduction of fixed assets with organized production and without organized production in economic sectors through new construction, expanded construction, reconstruction, modernization or restoration of fixed assets.
Basic construction investment is a part of investment activities, which is the investment of capital to carry out basic construction activities for simple reproduction and expanded reproduction of fixed assets to develop technical infrastructure for the national economy.
2.1.1.2. Characteristics of basic construction investment
Basic construction investment has its own unique characteristics, requiring managers to master them in order to make the most appropriate management decisions. Including the following characteristics:
Basic construction investment is an activity that requires a large amount of capital and remains stagnant throughout the investment process. Therefore, the management and allocation of capital for basic construction investment must establish appropriate measures to ensure that capital is used for the right purpose, avoid stagnation and loss of investment capital, and ensure that the investment and construction process of projects is carried out according to the determined plan and schedule.
Basic construction investment is long-term in nature , the time to carry out an investment until its results take effect often requires many years with many fluctuations occurring. Therefore, factors that change over time will greatly affect the management of basic construction investment, such as: prices, inflation, interest rates...
Basic construction investment products are construction works attached to the land on which the works are built. Therefore, each construction work has a construction site and is subject to the influence of terrain, geology, hydrology, environment, climate, and weather conditions.
... of the construction investment location, the construction investment location is also the location where the project is put into operation and use. Basic construction products are mainly manufactured according to orders. Therefore, capital management for construction investment must be based on the construction investment cost estimate determined and approved before implementing the construction investment.
Basic construction investment products are unique; each construction item and project has its own design and estimate depending on the investment purpose and the terrain, geology, hydrology, climate, weather conditions, etc. of the construction investment location. The investment purpose and the above conditions determine the planning, architecture, scale and volume structure, construction standards, construction technology solutions, etc. and the estimated cost of construction investment for the project and project items. Therefore, the management of state budget expenditures in construction investment must be associated with each construction item and construction project in order to strictly manage construction quality and investment capital.
Basic construction investment is carried out in all sectors of the national economy, socio-economic fields such as industry, agriculture, transportation, construction, health, culture, society, national defense, security, etc. Therefore, basic construction products have many types of works and each type of work has its own technical and economic characteristics. Management and allocation of capital for basic construction investment must be consistent with the characteristics of each type of work to ensure the effective use of investment capital.
Basic construction investment is often carried out outdoors, so it is always affected by natural conditions, weather, and construction workers often have to move to where the construction investment needs arise. Management and funding of basic construction investment must promote the rational organization of human resources, construction machinery, etc. to reduce waste and damage to materials and capital during the construction investment process.
The above characteristics of basic construction investment show the diversity and complexity of basic construction investment and require appropriate methods of organization, management and capital allocation to ensure the efficiency of investment capital. Therefore, the management of state budget expenditure in basic construction investment must have certain principles.
The regulations, measures, and procedures for managing and allocating capital are based on compliance with the general principles of state budget expenditure management and are applied appropriately to the characteristics of the basic construction investment project.
2.1.1.3. Basic construction investment stages
Due to the characteristics of construction products and the characteristics of construction production, investment and construction activities require compliance with the order of steps in each stage. Violating the order of investment and construction will cause waste, loss and create loopholes for negative developments in investment and construction activities. Based on the approved planning, the order of investment project implementation includes three stages and is implemented step by step as follows:
Phase I Investment Preparation
Research investment opportunities
Pre-feasibility study
Feasibility study
Project appraisal and approval
Phase II Investment Implementation
Design, estimate, budget
Contract signing, construction , equipment
Construction and installation works
Trial run, acceptance and settlement
Phase III
Bring and exploit, use
Figure 2.1: Phases of a project
Through the diagram above we see:
The previous step is the basis for implementing the next step, the previous stage is the basis for implementing the next stage. However, depending on the nature and scale of the project, the above steps can be shortened, such as: in the investment preparation stage, for small and medium-sized projects, it may not be necessary to study investment opportunities and pre-feasibility studies, but to build a feasible project, or even only need to prepare a technical-economic report for projects with sample designs.
Once the previous step has been completed, before checking the implementation of the next step, it is necessary to check to fully evaluate the economic, financial and technical aspects of that step. If it meets the requirements of the prescribed standards and regulations (if any) for that step and is accepted by the competent authority, then the next step can be carried out; most notably, the implementation of the sequence in stages (investment preparation, investment implementation and putting into operation) must be seriously examined and approved by the competent authority and competent agency.
Prepare to invest
This phase includes the following steps:
- Research the need for investment and the scale of investment.
- Conduct market research and examination to determine consumption needs; find sources of equipment and materials for production, consider investment capital capabilities and choose investment forms.
- Conduct investigation, survey and select construction site.
- Investment project preparation.
- Submit project documents and documents to the competent authority for investment decision, the organization providing investment capital and the competent authority for investment project appraisal.
With the important contents as above, the investment preparation stage is the stage that creates the premise and determines the success or failure in the following two stages (investment implementation and putting into operation). Therefore, for this stage, the accuracy of the research results is the most important, as long as there is still doubt about the research results, then there is still time to continue researching.
Make an investment
- Apply for land allocation or land lease according to State regulations (including water surface, sea surface, continental shelf).
- Prepare construction site.
- Selection of consultants for survey, design, technical appraisal and construction quality.
- Approve, evaluate design and total estimate, project item estimate.
- Organize bidding for construction, installation and equipment supply.
- Apply for construction permit and resource exploitation permit (if any).
- Sign economic contract with the winning contractor.
Construction and installation works.
- Check and supervise the implementation of contracts.
For this stage, the issue of time management, construction quality, and construction costs is the most important, because good management in each stage will help avoid loss and waste in construction investment.
Put into use
At this stage, the investment implementation is completed. If the results created by the investment implementation stage ensure consistency, low cost, good quality, on schedule, and at a suitable location, the effectiveness of the investment activity depends directly on the process of organizing and managing the investment results.
Fully implementing the above requirements on procedures is the basis for overcoming difficulties and problems caused by the characteristics of investment activities in construction. Therefore, regulations on investment and construction procedures have direct and indirect impacts on the quality of works, construction costs during the construction process, and the impact of works after completion and put into use on the economy of the region, the area as well as the whole country. Therefore, compliance with investment and construction procedures has a great influence, a decisive nature not only on the quality of works and investment projects but also greatly affects waste, loss, and creates loopholes for corruption in capital and finance.