New public private partnership legal framework for infrastructure projects in Vietnam

Abstract

The purpose of this dissertation is to thoroughly examine the legal framework for Public Private Partnership infrastructure projects with Vietnam as a case study at the issuance of the new Decision 71. The dissertation clarifies the demand for private participation in public infrastructure projects, traces legal regulations from earliest BOT conception till recent decrees to identify existing problems and needs to change. With the new PPP regulations recently in effect, it identifies the forces that drive these major changes as efficiency, fairness in risk allocation and most importantly, political internal conflicts. It seeks professional insights to whether these changes would successfully address abovementioned problems. Though considered as a positive effort from the government to attract investors, new PPP regulations face challenges in implementing which require practical experience and real tests for further improvements. These findings are of value to investors interested in putting capital in Vietnam potential infrastructure market, as well as public sector that is trying to accommodate these changes.