Vietnam would improve the legal framework to create favorable conditions for investors and public service users in public-private partnership (PPP) projects, said an senior official of the Ministry of Planning and Investment at a consultation workshop held on March 18 in Hanoi to discuss the third draft decree on PPP.
According to Le Van Tang, head of the Ministry’s Public Procurement Agency, although Vietnam has had regulations on cooperation between the public and private sectors, shortcomings are seen during the implementation of the regulations.
The draft decree has a separate chapter on investor selection and the signing of investment agreements and project contracts as well as the responsibilities of parties with respect to project preparation and implementation.
Investors and project enterprises would be entitled to support, investment guarantees, incentives of corporate income tax, and import duty if they import goods to implement a PPP project.
They would also be exempted from land use levy for the land areas allocated by the State or land rental payment for the entire duration of the project implementation.
The PPP decree will not impose the proportion of the State’s contribution in PPP projects and the contribution will be identified based on the financial capacity of the projects.-