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Vietnam needs 8 bln USD for PPP infrastructure projects

Vietnam needs approximately 17 billion USD for infrastructure development by 2020, with half coming from the private sector.
Vietnam needs approximately 17 billion USD for infrastructure development by 2020, with half coming from the private sector.

StanleyBoots, an international lawyer specialised in infrastructure at theMinistry of Planning and Investment (MPI), presented these figures in adialogue on public-private partnership (PPP) between MPI Minister BuiQuang Vinh and the Lord Mayor of the City of London, Alderman FionaWoolf, in Hanoi on October 7.

Woolf assured Vinh that the City ofLondon would help countries throughout the world, including Vietnam,meet infrastructure challenges. Woolf added that the city was currentlyworking on a more sustainable model of financing with its globalpartners.

Since 2008, the ministry has sought ways to addressthe growing financial needs of infrastructure projects in Vietnam. In2009, several public private partnership projects were launched.

Lastyear, the ministry updated Decision 71 to include the PPP programme,and developed PPP provisions in a draft decree recently submitted to thePrime Minister, Vinh told the Lord Mayor.

The documentintroduces a more comprehensive legal framework to facilitate the jointinvestment model, including a set of regulations to ensure internationalstandards are met.

In the near future, up to 298 projects worthmore than 982 trillion VND (46.7 billion USD) will require support fromthe non-State sector, both domestic and foreign, Director of the BiddingManagement Department Le Van Tang said, adding that 55 projects wereinitiated by ministries and the rest by localities.

In thepast, Vietnam has implemented infrastructure projects using thebuild-operate-transfer (BOT), build-transfer-operate (BTO) andbuild-transfer (BT) models. However, these models have their weaknesses,especially concerning the allocation of State resources.-VNA
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