Vietnam tries first public-private partnerships

vietnam highwayVietnam is getting accustomed to the concept of public-private partnerships (PPP), a model of infrastructure finance that is slowly getting traction in the communist country.

The first example for such a PPP is the first express highway across the country, a project that has attracted private funds from Bitexco, a local multi-industry corporation.

With the PPP model Vietnam could move away from state-owned enterprises and their inefficiencies, analysts say.

The $750 million highway project will connect a neighbouring province along the National Highway 1 with the resort town of Phan Thiet. The city has submitted PPP deals for national approval and recognises it was “high time” for such partnerships as, in general, Vietnam’s rapid urbanisation and industrialisation are creating demands on infrastructure that the government cannot meet alone.

PPP divisions are now being created at several levels, from the Ministry of Planning and Investment to its equivalent within the Ho Chi Minh City government, which even wants to create a “one-stop shop” for PPP deals that could include water, power, and public transit infrastructure.



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Vietnam is getting accustomed to the concept of public-private partnerships (PPP), a model of infrastructure finance that is slowly getting traction in the communist country. The first example for such a PPP is the first express highway across the country, a project that has attracted private funds from Bitexco, a local multi-industry corporation. With the PPP model Vietnam could move away from state-owned enterprises and their inefficiencies, analysts say. The $750 million highway project will connect a neighbouring province along the National Highway 1 with the resort town of Phan Thiet. The city has submitted PPP deals for national approval...

vietnam highwayVietnam is getting accustomed to the concept of public-private partnerships (PPP), a model of infrastructure finance that is slowly getting traction in the communist country.

The first example for such a PPP is the first express highway across the country, a project that has attracted private funds from Bitexco, a local multi-industry corporation.

With the PPP model Vietnam could move away from state-owned enterprises and their inefficiencies, analysts say.

The $750 million highway project will connect a neighbouring province along the National Highway 1 with the resort town of Phan Thiet. The city has submitted PPP deals for national approval and recognises it was “high time” for such partnerships as, in general, Vietnam’s rapid urbanisation and industrialisation are creating demands on infrastructure that the government cannot meet alone.

PPP divisions are now being created at several levels, from the Ministry of Planning and Investment to its equivalent within the Ho Chi Minh City government, which even wants to create a “one-stop shop” for PPP deals that could include water, power, and public transit infrastructure.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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