Forum seeks to increase PPP investment effectiveness

An overview of investment legal support forum (Photo: VNA)

Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.

The information was heard at an investment legal support forum held in Ho Chi Minh City on April 24.

Assessing the challenges in implementing PPP projects today, lawyer Ngo Thanh Tung from the Vietnam International Arbitration Center (VIAC) said 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 factors that hinder the success of those projects. To seize opportunities and attract more PPP projects, the Government and the public and private sectors 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 recommended the National Assembly to carry out activities to supervise the implementation of the PPP Law, while relevant agencies and departments should synthesise problems and shortcomings to resolve them promptly for investors./.