The UK’s experience in the public-private partnership (PPP) model, a scheme to better access private credit amid limited State budget, featured high at a seminar in Ho Chi Minh City on September 3.

Addressing the event, Vice Chairwoman of the municipal People’s Committee Nguyen Thi Hong said the model should be rolled out to more fields to lure investment and acquire technology.

Claire Phillips, an expert from the UK Public-Private Partnership Agency, said the model satisfies demand for the overhaul and modernisation of public services by making costs more transparent.

According to her, PPP is an important tool to procure public services but it needs appropriate research and application in concrete fields to bring expected results.

At the event, representatives from the UK Export Credit Agency gave out information about financial support for Vietnam’s PPP projects.

PPP is a model in which public projects enjoy private investment. Some industrialised nations even adopt the policy of transferring public services to the private sector.

The model is popular in transport, infrastructure, education and waste treatment, benefiting 100 countries and territories worldwide.-VNA