Public-private partnership (PPP) promotion is still a priority in 2011, said Nguyen Thi Bich Van, the deputy director of the Foreign Investment Agency of the Ministry of Planning and Investment while talking recently with the Vietnam Economic News' Chu Huynh.
Which fields does the 2011 investment promotion program focus on?
The world economy and Vietnam's strategic investment partners have shown signs of recovery so the 2011 investment program needs to be adjusted to attract investment capital in the post-economic crisis period. In 2011, the investment promotion program is orientated to that set of priorities.
The Government recently issued a regulation on public-private partnership (PPP) in infrastructure development and some infrastructure service-related fields. This year, there will be an investment promotion program covering markets that provide finance for projects. After a list of projects is issued, programs for promotion of investment for concrete projects will be established.
Support industry development is another priority of the 2011 investment promotion program. Support industry is a weakness and also a long-term interest for Vietnam. Vietnam still needs a systematic support industry development program and cooperation between authorities and a list of concrete tasks. This year we will be focusing on preparing a practical, efficient investment plan while working with some associations and other agencies in international cooperation with vital partners, so a cooperation program for promotion of investment in support industry development becomes possible.
Could you explain investment attraction through PPP in 2010?
In 2010, there was no legal basis according to which investment could be attracted through PPP before a related legal framework was constructed. The Government just signed a legal framework governing investment attraction through PPP several months ago. There were investment forms, such as BOT (build, operate, transfer) and BT (build, transfer), co-financed by state organizations and private investors, which are types of PPP. However, PPP has legal frameworks and regulations that are different from those subject to big-scale projects and partners. Vietnam actually begins PPP promotion after an official legal framework governing investment attraction through PPP takes effect.
What is your assessment of the potential to attract investment through PPP in Vietnam in 2011?
Many investor communities and a number of government agencies are highly interested in investment in PPP, as PPP could be a meeting point between different capital sources and result in major projects. PPP in infrastructure could influence the economy's development and different projects so it is something in which many investors and international organizations are highly interested. They are interested in PPP, because PPP influences the attractiveness and provides equality in investment attraction, which are the biggest expectations of international investor communities./.