PPP
infrastructure projects are high on Japanese investors’ investment wish lists.
Japanese investors are interested in
infrastructure projects underway under public-private investment form (PPP) in
Vietnam, particularly in Hanoi and Ho Chi Minh City, according to former
Japanese ambassador to Vietnam and now deputy chairman of Saigon Invest Group
(SGI) Norio Hattori.
“The Vietnamese government needs to draw model
contracts for each PPP project for firms to take as reference. Besides, Vietnam
should resort to support from prestigious foreign consultants in appraising
project feasibility, investment cost, capital recouping capacity and risk
possibilities during implementation to make projects more appealing to
investors,” said Hattori.
In fact, a lack of relative information about
PPP project feasibility, responsibility sharing scheme between investors and
Vietnamese government and relevant laws in case of disputes are now prime
concerns of investors.
“Currently, implementation of PPP projects
follows prime ministerial Decision 71/2010/QD-TTg and contract terms to
harmonise investor and Vietnamese state interests,” said Ministry of Planning
and Investment (MPI) Foreign Investment Agency deputy general director Dang
Xuan Quang.
Quang said Vietnam would appreciate attention
from international investors, including Japanese investors, in current stage of
PPP project pilot implementation and consolidating relevant legal framework.
“Vietnam will exercise policies to bring
comfort to PPP project investors, starting from widespread information
disclosure,” Quang said.
The MPI reportedly submitted and is awaiting
government approval for five key infrastructure projects to get rolling under
PPP form. These are Ho Chi Minh City’s Nhieu Loc-Thi Nghe elevated road 1, Song
Hau water plant in Mekong Delta Can Tho city, and three expressway projects between
Halong-Haiphong, Ninh Binh-Thanh Hoa and Nghi Son-Bai Vot.
Of the above-said projects, elevated road 1 is
of special importance to Ho Chi Minh City’s transport network.
The projected 10.8 kilometre, four-lane road
starts from Tan Son Nhat international airport in the city’s northwest.
“With estimated traffic volume of 220,000
vehicles/year, the project promises quick capital recouping via toll
collection,” said Ho Chi Minh City Transport Department’s planning and
investment section head Nguyen Huu Chanh.
The project involves 60,000sqm and costs
around $720 million in total investment capital based on 2007-2008 estimates.
Quang Duy | vir.com.vn
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