Vietnam gives a boost to PPP cooperation
(VOVworld)- The recent Vietnam Public-Private Partnership (PPP) Forum hosted by the Washington-based Vietnamese Embassy attracted the participation of dozens of businesses, investers and major US banks. The event offered a good opportunity for Vietnamese entrepreneurs to hold dialogues with their US counterparts on public investment policy aimed at attracting foreign investment in infrastructure development and public service projects.
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US investors said that the Public-Private Partnership (PPP) model was the right form of investment and highly valued the commitments and plans of the Vietnamese government. Richard Shieldhouse of the Intervistas consulting company, branched in Maryland, acknowledged the establishment of the financial risk management fund of Vietnam worth 1 billion USD for the Public-Private Partnership which had contributed to reassuring private foreign investors. In response to the concerns of foreign investors, the Minister of Planning and Investment Bui Quang Vinh reiterated that Vietnam has been striving to create a safe and attractive market for investors. However, Vietnam has not until now had a law on Public-Private Partnership but in future this law might be adopted and submitted to the National Assembly. Minister Vinh also admitted some limitations in implementing the PPP model, including bidding mechanisms. To resolve this issue, the Vietnamese Government has worked with the MPI to revise the Bidding Law to ensure that capable contractors that have the best technologies and after-sales services during the life of project will be prioritized for consideration.