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.
Kate Harrison, Deputy Head of Mission, British Embassy, said at a workshop in Hanoi on October 11 that the UK could share its experience with Vietnam at a time when the latter is looking at new ways of finding finance for crucial infrastructure projects.
“PPP has been a cornerstone of the modernisation of public service delivery in the UK with more than 900 projects, involving private finance of around 100 billion USD approved in the UK in the last 12 years”, the British diplomat said as an illustration of UK experience in this field.
Vice Minister of Planning and Investment Dang Huy Dong shared his view, emphasising that the PPP would certainly bring great benefits for infrastructure development in Vietnam.
He said the legal framework of the PPP model had been submitted to the Prime Minister for approval and a number of pilot projects in infrastructure development were underway.
British businesses’ executives shared experiences in making the legal framework of the PPP model, plus how to establish infrastructure PPP projects in an emerging market, how to avoid disputes and how to enhance transport development through PPP.
Prince Andrew, The Duke of York and the UK 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: both are essential elements for a country’s wellbeing; and as part of that relationship we see the concept of PPP as being a key ingredient to deliver the necessary infrastructure which will bring increased trade and investment”, said the Duke of York./.