Measures sought to bolster private investment in infrastructure, public services

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 and more comprehensive relevant policies are needed to bolster private investment in infrastructure and public services, said Tran Hao Hung, Director of the Ministry of Planning and Investment (MPI)’s Public Procurement Agency.

Though a legal framework on investment in the form of public-private partnership (PPP) has been 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 regarding tax, land, State budget and management and use of public assets, among others, he said.

Preparations for the projects are time consuming given that a long period is needed for financial feasibility studies and efficient distribution of State resources, Hung said.

Relevant policies in the coming time must be suitable for objectives and characteristics of PPP projects in specific fields to draw the private sector, together with an attractive investment climate, stable macro-economy, better sovereign credit rating and quality of planning, and more, according to the official.

Due attention should be paid to investment promotions among investors at home and abroad and solutions are necessary to access capital sources with low-interest rates and long maturity.

Authorised agencies are advised to work closely with investors to address bottlenecks, so as to consolidate their trust when participating in new projects./.