Business

UK keen to be key in public-private partnership

An UK diplomat has expressed interest in his country working as Vietnam ’s key partner in the Public Private Partnership (PPP) sector as there is now a great emphasis on PPP from both Government and the public sector in Vietnam.
An UK diplomat has expressed interest in his country working asVietnam ’s key partner in the Public Private Partnership (PPP) sector asthere is now a great emphasis on PPP from both Government and thepublic sector in Vietnam.

Kate Harrison, DeputyHead of Mission , British Embassy, said at a workshop in Hanoi onOctober 11 that the UK could share its experience with Vietnam at atime when the latter is looking at new ways of finding finance forcrucial infrastructure projects.

“PPP has been acornerstone of the modernisation of public service delivery in the UKwith more than 900 projects, involving private finance of around 100billion USD approved in the UK in the last 12 years”, the Britishdiplomat said as an illustration of UK experience in this field.

Vice Minister of Planning and Investment Dang Huy Dong shared hisview, emphasising that the PPP would certainly bring great benefits forinfrastructure development in Vietnam .

He said thelegal framework of the PPP model had been submitted to the PrimeMinister for approval and a number of pilot projects in infrastructuredevelopment were underway.

British businesses’executives shared experiences in making the legal framework of the PPPmodel, plus how to establish infrastructure PPP projects in an emergingmarket, how to avoid disputes and how to enhance transport developmentthrough PPP.

Prince Andrew, The Duke of York and theUK Special Representative for International Trade and Investment,appreciated bilateral relations between the UK and Vietnam .

“Two key areas of this relationship cover trade and development: bothare essential elements for a country’s wellbeing; and as part of thatrelationship we see the concept of PPP as being a key ingredient todeliver the necessary infrastructure which will bring increased tradeand investment”, said the Duke of York./.
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