The state budget plays an important role in financing basic construction investment projects and accounts for a large proportion of the total development investment capital in localities. In addition to the achieved results, the current management of capital for basic construction investment still has shortcomings and limitations such as the quality of some construction works is not guaranteed, some works are behind schedule; site clearance work still faces difficulties; state management of capital construction investment is sometimes and in some places not good; the capacity of some design consulting contractors to make estimates is still limited; capital investment plans are still scattered and dispersed; warranty, maintenance and repair of works are not well implemented in some places and works. Through research, analysis and assessment of the current situation, the article proposes a number of solutions to improve the effectiveness of this work.