Business

Forum seeks to increase PPP investment effectiveness

Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Forum seeks to increase PPP investment effectiveness ảnh 1An overview of investment legal support forum (Photo: VNA)
HCM City (VNA) – Investment cooperation in the public-privatepartnership (PPP) form is seen as a strategic option to mobilise privateinvestment and improve public service delivery. However, the implementation ofPPP projects in Vietnam still faces a lot of difficulties and obstacles, leadingto a low number of successful projects and making the private economic sector cautious.

The information was heard at an investmentlegal support forum held in Ho Chi Minh City on April 24.

Assessing the challenges in implementingPPP projects today, lawyer Ngo Thanh Tung from the Vietnam InternationalArbitration Center (VIAC) said that one of the main challenges in implementingPPP in developing countries is the lack of a legal framework to determineroles, responsibilities, and rights of public and private partners.

Public sector institutional capacity andhuman resources are also factors that hinder the success of those projects. Toseize opportunities and attract more PPP projects, the Government and thepublic and private sectors need to implement specific measures.

From practical assessment and analysis,legal experts made several recommendations at the forum to improve legalregulations, enhance the role, and protect investors more.

Specifically, experts recommended theNational Assembly to carry out activities to supervise the implementation ofthe PPP Law, while relevant agencies and departments should synthesise problems andshortcomings to resolve them promptly for investors./.
VNA
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