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Vietnam Today

Deputy PM urges authorities to conduct PPP projects

Released at: 07:54, 01/07/2015

Deputy PM urges authorities to conduct PPP projects

Authorities directed to work with localities in considering public-private partnership projects.

by Minh Tuyet

By no later than the end of this year, State agencies in all sectors must work with local authorities in arranging public-private partnership (PPP) projects to meet assigned targets, Deputy Prime Minister Hoang Trung Hai said at the seventh meeting of the Steering Committee on PPPs attended by ministries and local authorities on June 30.

“Ministries must be active in introducing circulars to guide investment in the PPP form, under Decree No. 15,” the Deputy Prime Minister emphasized.

He also said that ministries had registered 55 such projects and 36 local authorities had registered 240. “We need to review how many projects have been conducted since registration, to ensure they move ahead,” he added, “There are many projects and sectors where the State should have been involved but budget funds are inadequate.”

He also agreed with suggestions to conduct pioneering PPP projects, with large-scale, long-term projects being conducted to bolster the appeal of PPP projects in Vietnam among financial organizations, investors and international sponsors, as was recommended by former UK Prime Minister Tony Blair.

Mr. Hai had also asked the Ministry of Planning and Investment to accelerate the use of ODA capital to set up State capital for PPP projects.

In the first quarter of this year the government promulgated two important decrees on PPPs and investor selection. The two are important for the legal framework relating to PPP projects and were highly appreciated by international investors. The introduction of accompanying guideline circulars, however, has been slow.

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