Vietnamese Tiếng Việt | Friday, July 20, 2018 | Advertise with Us
   
Text Size

PPP law to be drafted in 2018

Share
(0 votes, average 0 out of 5)

Vietnam is expected to start building a law on public-private partnership (PPP) investment in 2018 to pave the way for future foreign investment inflows.

PPP law to be drafted in 2018, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news

A law to replace simple decrees would be essential to facilitate foreign investment in PPP projects

 

Vu Quynh Le, deputy head of the Ministry of Planning and Investment's Public Procurement Department, made this statement at November 16 workshop at Vietnam-World Economic Forum Infrastructure Development Cooperation.

If everything goes smoothly, the draft law is expected to be submitted to the government and the National Assembly (NA) in late 2018.

At present, PPP investment is regulated by Decree No.15/2015/ND-CP and Decree No.30/2015/ND-CP. Despite improvements, the risk-sharing mechanism, exchange rates, and revenue guarantees, which are considered the topmost concerns among foreign investors, remain absent from the decrees.

The lack of this regulatory mechanism has discouraged foreign investors from joining transport infrastructure projects in Vietnam. Thus, up till now, no PPP transport infrastructure projects have been successfully done by foreign investors in Vietnam, despite their great interest.

"The decrees cannot help solve these problems, only a law can deal with them. We are proposing the government to build a PPP law," a senior official from the Ministry of Transport (MoT) told VIR.

Vietnam has been striving to attract private investment into infrastructure projects amid heavy budgetary constraints.

According to the Ministry of Planning and Investment, Vietnam is estimated to need around $68 billion of foreign investment in the infrastructure sector in the next five years.

 

 

Source: VIR

Maybe You Also Interesting :

» H1 foreign investments in property exceed 2017

FDI pledged for Vietnam’s property market in the year’s first half witnessed a big surge and was higher than total pledged capital of the entire year of...

» Gov’t to review 30-year attraction of foreign investment in October

PM Nguyen Xuan Phuc has tasked the Ministry of Planning and Investment to consider organizing a conference on 30-year attraction of foreign investment in early...

» Workforce key in foreign investment decisions

A better performing Vietnamese workforce would see more foreign investors take an interest in coming to the country or expanding.

Login