HCMC restarts "frozen" PPP projects

A preparatory session for the 2024 Investment Legal Support Forum themed "Investment through private-public partnership method under the new context of HCMC” was held on Aril 12.

Mr. Vu Tien Loc, Chairman of VIAC, speaks at the meeting. (Photo: SGGP)

The event was co-organized by the Vietnam International Arbitration Center (VIAC) and the HCMC Investment and Trade Promotion Center (ITPC)

At the meeting, business associations and investors discussed many issues about choosing the type of contracts and requests for guarding the interests of the parties in the PPP’s contract and enhancing the role of the private sector to effectively implement PPP’s projects in HCMC.

According to Mr. Vu Tien Loc, Chairman of VIAC, the management and operation of projects, as well as the mechanism for capital recovery by investors, are currently facing discrepancies between state regulations and Resolution 98/2023/QH15 on the pilot implementation of specific mechanisms and policies for the development of HCMC.

Regarding this issue, lawyer Le Dinh Vinh, Director of Vietthink Law Company and VIAC Arbitrator, proposed using the OM (Operations and Management) model contract to effectively exploit facilities facing difficulties such as stadiums, sports arenas, and more.

According to ITPC Deputy Director Cao Thi Phi Van, Resolution 98 has opened a very positive mechanism for PPP investment projects. The city is urgently reviewing shortcomings to restart "frozen" projects and start new projects such as projects under the Transit Oriented Development (TOD) model; PPP projects applied Build-Operate-Transfer (BOT), Build-Transfer (BT) contracts.

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