A toll plaza of a build-operate-transfer project (Photo: VNA)Hanoi (VNA) – A workshop was held in Hanoi on July 4to look into the prevention and settlement of contractual disputes ininfrastructure public-private partnership (PPP) projects.
Vice Chairman of the Vietnam Chamber of Commerceand Industry (VCCI) Hoang Quang Phong said the country has great demand forinfrastructure development and will need resources for this work in the timeahead. Therefore, the PPP model is assessed as an important channel to mobiliseinvestment capital to meet that demand.
The PPP model has proved effective over the pastyears, he noted, citing the Government’s data as showing that as of January2019, 336 PPP projects had their contracts inked, including 140build-operate-transfer projects and 188 build-transfer ones.
The Government is drafting a law on PPPinvestment and plans to submit this to the National Assembly at the sessionthis October, Phong said, noting that this is a very important legal frameworkfor promoting the flow of private capital into infrastructure development.
He added the workshop, held by the VCCI, theVietnam International Arbitration Centre (VIAC) and the Republic of Korea’sCommercial Arbitration Board (KCAB), discussed the issue of public attention,which is the settlement of disputes in PPP projects and the prevention of thesedisagreements from turning into lawsuits between private investors and thestate.
Head of the KCAB Lee Ho-won said the KCAB andthe VIAC will continue working together to organise more specialised events toserve not only Vietnamese and Korean businesses but also foreign investors whowill come and choose Vietnam as a feasible and stable investmentdestination.-VNA
VNA
