Public Investment Disbursement in Construction Projects in Indonesia (2015–2024): Influencing Factors and Relevant Lessons for Vietnam

Abstract

This paper analyzes the factors affecting public investment disbursement in construction projects in Indonesia during the period 2015–2024 and assesses their relevance to the Vietnamese context. By synthesizing data from the OECD, WB, and IMF, the study identifies and categorizes these factors into 11 major groups. These include systemic issues such as weak intergovernmental coordination, unreasonable budget allocation, limited implementation capacity, and complex administrative procedures. Emerging factors such as the COVID-19 pandemic and green project costs are also identified. The comparative results indicate that five of these factors are highly relevant to Vietnam. The study proposes further quantification of their impacts to derive actionable lessons for improving disbursement efficiency amidst rising public investment demand.