Politics

National Assembly passes law on PPP investment

The law on public-private partnership (PPP) investment was adopted by the National Assembly (NA) on June 18 at the legislature’s ninth session, with 92.75 percent of deputies voting in favour.
National Assembly passes law on PPP investment ảnh 1Legislators at the June 18 sitting, part of the National Assembly's ninth session in Hanoi (Photo: VNA)

Hanoi (VNA) - The law onpublic-private partnership (PPP) investment was adopted by the NationalAssembly (NA) on June 18 at the legislature’s ninth session, with 92.75 percentof deputies voting in favour.

Comprising 11 chapters with 101 articles, the lawregulates investment activities and private investment attraction under the PPPmodel to certain important and essential infrastructure sectors.

PPP is one of the investment forms that havebeen applied in Vietnam, especially build-operate-transfer (BOT) projects in transportinfrastructure development. However, this is the first time a specific bill onPPP has been submitted to the NA.

Chairman of the NA Committee for EconomicAffairs Vu Hong Thanh said the law aims to create a sufficiently strong legalcorridor for relevant parties to fulfil their obligations in PPP contracts. 

It also demonstrates the State’s legalcommitment to domestic and foreign investors, thus encouraging investors tojoin the State in PPP projects, he added.

The law focuses on five essential areas: transport;power grid and plants; irrigation, clean water supply, water drainage, andwastewater and waste treatment; healthcare and education – training; andinformation technology infrastructure.

Legislators also passed a resolution approvingthe 2018 State budget balance on the same day./.
VNA
#public-private partnership #PPP #National Assembly #BOT projects #transport infrastructure #2018 State budget balance #updated Vietnam news #Vietnamplus #Vietnam News Agency
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