(VEN) – A government decree designed to facilitate investment through public-private partnership (PPP) and ensure completion of projects went into effect on June 19. Increasing PPP project efficiency Decree 63/2018/ND-CP (Decree 63), signed by the Prime Minister on May 4, replaces Decree 15, which was in effect from April 10, 2015. It sets out the fields, conditions, order and procedures for leveraging private sector investment. A Ministry of Planning and Investment representative said the PPP model for both domestic and foreign private investors had changed the appearance of localities throughout the country and significantly improved national infrastructure, especially transport and electric infrastructure. However, PPP regulations had proven inadequate in terms of investment process and complicated formalities. For example, implementation of Build-Operate-Transfer (BOT) projects in the past shows that an investment capital ratio of 15 percent stipulated in Decree 15 did not prove investors’ financial ability to complete projects. Therefore, in revising Decree 15, lawmakers decided to raise the cap to 20 percent. The new directive creates more flexibility for investors in high-tech projects and reduces time and costs. Under this new procedure, investors will be selected after a pre-feasibility study and project approval. As a result, investors will be responsible… Read full this story
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