Bill clarifies legal authority for in-principle approval of PPP projects

Legal authority for approving in principle a Public-private Partnership (PPP) project would be given to the National Assembly or the Prime Minister, according to the bill on PPP investment being crafted by the Ministry of Investment and Planning.

Bill clarifies legal authority for in-principle approval of PPP projects hinh anh 1

Accordingly, the NA would have legal authority to grant in-principle approval to PPP projects with public investment of 10 trillion VND (430.34 million USD) or more; those having or potentially having detrimental impacts on the environment, including nuclear power plants; those requiring conversion of land use of national parks, nature reserves, landscape protection areas, and forests for scientific research and experiment of 50 hectares or more; and those requiring land use conversion of protective forests of 50 – 500 hectares or more and production forests of 1,000 hectares or more.

Legal authority would also be given to the NA for approving projects requiring conversion of paddy growing land of 500 hectares upwards or those requesting relocation of 20,000 people or more in mountainous regions or 50,000 people or more in non-mountainous regions.

A PPP project would be approved in principle under the authority of the Prime Minister if it requires the relocation of 10,000 people or more in mountainous regions or 20,000 people or more in non-mountainous regions; uses central budget and has total investment equivalent to an A-class project stipulated in the Law on Public Investment; or uses ODA and soft loans provided by foreign sponsors.

 

The Prime Minister would also have the authority to approve projects to construct airports as well as airport’s runways, passenger and cargo terminals and first-class seaports.

The draft law is set to be submitted to the ninth sitting of the 14th National Assembly for review./. VNA

Changing the PPP game

Changing the PPP game

The long-awaited draft Law on Public-Private Partnerships is being completed with some issues of special attention among international and domestic private ventures being revised in order to increase bankability and to help reduce public debt.

Crafting a workable PPP law in 2020

Crafting a workable PPP law in 2020

Le Net and Vu Thi Thinh from LNT & Partners discuss how important public-private partnerships are to the country’s infrastructure development.

 
 

Other News

.
Hoa Binh: attractive destination for investors
Hoa Binh: attractive destination for investors
BUSINESSicon  04/11/2021 

In an effort to attract investment, especially from the start-up community and young entrepreneurs, the authorities of Hoa Binh province have issued special incentive policies.

Vietnam Airlines officially receives FAA permit to run direct flights to US
Vietnam Airlines officially receives FAA permit to run direct flights to US
BUSINESSicon  16/11/2021 

National flag carrier Vietnam Airlines on November 16 officially received a permit from the US Federal Aviation Administration (FAA) to operate non-stop commercial flight service between Vietnam and the US.

Mekong Delta has some 2.5 million tons of rice left for export
Mekong Delta has some 2.5 million tons of rice left for export
BUSINESSicon  16/11/2021 

With the local rice demand taken into account, the Mekong Delta region has some 2.5 million tons of rice left in November and December that can be exported.

Vietnam-South Korea bilateral trade to hit $70 billion this year
Vietnam-South Korea bilateral trade to hit $70 billion this year
BUSINESSicon  17/11/2021 

The bilateral trade turnover between Vietnam and South Korea reached $63.4 billion in the first 10 months of 2021 and is likely to exceed $70 billion by the end of the year.

Green economy absorbs in green consumption behaviors
Green economy absorbs in green consumption behaviors
BUSINESSicon  16/11/2021 

Countries in the world have been making efforts to demonstrate their commitments to the climate change battle with the aim to minimize negative impacts on ecosystems and develop a green economy.

Retail revenue likely up 3-4% by year-end, compared to 2020
Retail revenue likely up 3-4% by year-end, compared to 2020
BUSINESSicon  16/11/2021 

Thanks to an expected upturn in retail demand between now and the end of the year, the total revenue for 2021 is expected to have grown by three to four per cent, when compared with the previous year. 

Several listed foreign firms report lower profits and losses in 2020
Several listed foreign firms report lower profits and losses in 2020
BUSINESSicon  16/11/2021 

The majority of foreign-invested enterprises listed on Vietnam's stock market either posted lower after-tax profits or losses in 2020 due to the impact of the COVID-19.

VIETNAM BUSINESS NEWS NOVEMBER 16
VIETNAM BUSINESS NEWS NOVEMBER 16
BUSINESSicon  16/11/2021 

Foreign paper hails Vietnam as economic success story

Vietnam Airlines’s additional shares to be officially traded from Nov. 19
Vietnam Airlines’s additional shares to be officially traded from Nov. 19
BUSINESSicon  15/11/2021 

The Ho Chi Minh Stock Exchange (HoSE) has announced the additional listing of nearly 800 million shares of Vietnam Airlines Corporation, coded HVN, from November 15.

E-commerce promotes Vietnam's digital economy
E-commerce promotes Vietnam's digital economy
BUSINESSicon  16/11/2021 

While tourism has been hit hard by Covid-19, e-commerce has become the driving force for the digital economy in Vietnam this year.

HCM City distribution chains ensure food supply
HCM City distribution chains ensure food supply
BUSINESSicon  16/11/2021 

Nearly 1,600 workers at a supermarket chain tested positive for coronavirus when the fourth Covid wave in HCM City reached its peak over the summer. One of them died.

Farm exports to EU must follow food hygiene requirements: experts
Farm exports to EU must follow food hygiene requirements: experts
BUSINESSicon  16/11/2021 

After one year of EVFTA (EU-Vietnam Free Trade Agreement) implementation, Vietnam’s farm exports to the EU have increased sharply.

Four ‘economic commanders’ at NA forum share their vision about stimulus package
Four ‘economic commanders’ at NA forum share their vision about stimulus package
FEATUREicon  15/11/2021 

All four ministers of economy-related fields were asked to answer inquiries at the last National Assembly session, a rare occurrence in Vietnam.

Railway goods transport between Vietnam, China surges
Railway goods transport between Vietnam, China surges
BUSINESSicon  15/11/2021 

The total volume of goods traded between Vietnam and China going through the two border-gate railway stations of Lao Cai and Dong Dang reached more than 838,000 tonnes in the first nine months of 2021, up 43 percent year-on-year.

2021's profit outlook mostly reflected in stock prices: FiinGroup
2021's profit outlook mostly reflected in stock prices: FiinGroup
BUSINESSicon  15/11/2021 

The Vietnamese stock market’s valuation is equivalent to 18.2 times 2021’s profit and 14.3 times 2022’s profit forecast, said Fiin Trade, showing that the profit prospects for 2021 are reflected in share prices.

VN's growth and recovery require strong public investment: economists
VN's growth and recovery require strong public investment: economists
BUSINESSicon  15/11/2021 

Financing public investment to generate future growth and to speed up economic recovery post-COVID-19 remained Vietnam's most important challenge in the near future, said economists and policymakers. 

VIETNAM BUSINESS NEWS NOVEMBER 15
VIETNAM BUSINESS NEWS NOVEMBER 15
BUSINESSicon  15/11/2021 

More effective use of trade remedy tools needed when joining FTA: experts

Nursing home market nascent in Vietnam: Savills
Nursing home market nascent in Vietnam: Savills
BUSINESSicon  15/11/2021 

Demand for “housing with care” – a range of residential formats (which often provide care services) for older people – is increasing, but the market remains almost untouched in Vietnam, according to property consultancy Savills Vietnam.

Online shopping in VN to soar by year-end
Online shopping in VN to soar by year-end
BUSINESSicon  15/11/2021 

 Online shopping in Vietnam is expected to increase sharply near the end of the year. 

Market looks for new sources of goods as divestment from state enterprises proceeds
Market looks for new sources of goods as divestment from state enterprises proceeds
FEATUREicon  16/11/2021 

The situation changed in a positive direction when the stock market and and stock prices went up. This will enable divestment from SOEs and the equitization process to take place more easily.

 
 
 
Leave your comment on an article

OR QUICK LOGIN