2024 Investment Legal Support Forum held
The 2024 Investment Legal Support Forum, with the topic of investment in the form of public-private partnerships (PPP) in the new context of Ho Chi Minh City, took place in Ho Chi Minh City, on April 24.
At the forum, experts said that Ho Chi Minh City has called for 54 investment projects in the form of PPP (41 projects in the fields of culture, sports, and health; 5 existing BOT road traffic projects, and eight projects in the fields of education and sports, called for investment by Thu Duc City).
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Lawyer Ngo Thanh Tung from the Vietnam International Arbitration Center (VIAC) emphasised that with the benefits that PPP brings, Vietnam is one of the countries pursuing PPP as a strategic option to mobilise private investment and improve public service delivery.
However, implementing PPP in Vietnam faces many difficulties and obstacles, leading to limited successful projects. The private economic sector is still cautious, especially investors with real potential who want to participate seriously.
Assessing the challenges in implementing PPP projects today, Lawyer Ngo Thanh Tung added that one of the main challenges in implementing PPP in developing countries is the lack of a legal framework to determine roles, responsibilities and rights of public and private partners.
Public sector institutional capacity and human resources are also a factor that hinders the success of PPP projects. To seize opportunities and attract PPP projects, the Government, the public sector and the private sector need to implement specific measures.
From practical assessment and analysis, legal experts made several recommendations at the forum to improve legal regulations, enhance the role and protect investors more.
Specifically, experts recommend that the National Assembly carry out activities to supervise the implementation of the PPP Law. Relevant agencies and departments should synthesise problems and shortcomings to resolve them promptly for investors.
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