(MPI Portal) – On Sep, 24th, in the framework of the visit to Vietnam by the Mayor of London Financial Centre Mr. David Wootton and business delegation of the United Kingdom, the Ministry of Planning and Investment had a policy seminar on The legal framework for public private partnership (PPP) in Vietnam. Minister of Planning and Investment Bui Quang Vinh attended the seminar.
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Photo: Thanh Son (MPI Portal) |
In recent years, investment and development in infrastructure and public services have been concerned by the Vietnamese Government with promotion policies such as encouraging the forms of BOT, BTO, BT or social investment in the fields of health, education, clean water, along with the majority of public investment resources.
Implementation of a number of projects under the PPP model as the Phu My Hung power plant 2-2, Long Thanh - Dau Giay highway ... were not enough to meet the needs of large infrastructure development to maintain development and sustainable business operations. Infrastructure systems are obsolete, inconsistent, poorly connected; hindering the development process.
To achieve growth target of Vietnam, the capital demand for infrastructure development is very large (according to preliminary calculations, the demand is about US$16 - 17 billion per year), whereas the mobilization from traditional investment channels only meets 50-60% of demand.
This fact requires more effective solutions and policies to mobilize resources from the domestic and foreign private sector in infrastructure development.
The Minister said that the UK is a leader in mobilizing private capital for infrastructure development and public services. The presence of the Mayor today opened the PPP investment opportunities in Vietnam with UK businesses.
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Mayor of London Financial Centre Mr. David Wootton.
Photo: Thanh Son (MPI Portal)
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Mayor David Wootton hoped that the business connections established during this visit would contribute to realize the ambitions of both countries to increase two-way trade turnover to US$ 4 billion in 2013 and enhance direct investment from the UK to Vietnam.
He said that the London Financial Centre is also the ideal address for Vietnamese companies to expand business in Europe.
At the dialogue, British business delegation shared the experience of PFI projects in the UK, reviewing the performance of PPP projects in Vietnam and next steps.
In the discussion, the questions to the problem of how to help PPP attractive to financial institutions and investors are interested by entrepreneurs. Some other topics may also be interested in such as revenue on investment, the role of the state, guarantee by the Government ...
The seminar, along with the joint efforts of the two countries will contribute to the formation of the legal framework for PPP in general and the implementation of PPP projects in Vietnam in particular./.