Prime Minister Nguyen Tan Dung, in his statement celebrating Spring 2012, has emphasized that contents of restructuring of the economy must be conducted in parallel with the process of industrialization. However, it should start with the most imperative areas including the investment restructuring with a focus on public investment, the financial market restructuring with afocus on system of commercial banks, and state owned enterprises restructuring with a focus on the state-owned corporations and economic groups. Hence, public investment restructuring is considered as a mission that should be implemented immediately in the course of economic restructuring in 2012. The paper starts with the concepts of public investment and its restructuring, followed by some empirical evidences in this area including the unsuccessful case of Greece and the successful case of South Korea. Finally, the author provides some implications for Vietnam's public investment restructuring based on the mentioned models.