Stronger engagement of ministries, sectors and localities and more comprehensive relevant policies are needed to bolster private investment in infrastructure and public services. (Illustrative photo: VNA) Hanoi (VNA) – Stronger engagement of ministries, sectors and localities andmore comprehensive relevant policies are needed to bolster private investment in infrastructureand public services, said Tran Hao Hung, Director of the Ministry ofPlanning and Investment (MPI)’s Public Procurement Agency.
Though a legalframework on investment in the form of public-private partnership (PPP) hasbeen fundamentally completed, there remained limitations in attracting investment in road transport infrastructure for projects and mobilising loans is among the biggest challenges, along with bottlenecks in relevant policies regardingtax, land, State budget and management and use of public assets, among others, he said.
Preparationsfor the projects are time consuming given that a long period is needed for financialfeasibility studies and efficient distribution of State resources, Hung said.
Relevant policiesin the coming time must be suitable for objectives and characteristics of PPPprojects in specific fields to draw the private sector, together with an attractiveinvestment climate, stable macro-economy, better sovereign credit rating andquality of planning, and more, according to the official.
Due attentionshould be paid to investment promotions among investors at home and abroad andsolutions are necessary to access capital sources with low-interest rates andlong maturity.
Authorisedagencies are advised to work closely with investors to address bottlenecks, soas to consolidate their trust when participating in new projects./.
