Representative of Deo Ca Group said that to develop a complete and appropriate law, it is necessary to base from the reality to make PPP investment form more transparent, fair, effective and attractive for the investors.
In the morning of May 06, 2020 in Hanoi, in the seminar “Comments on the Draft of Investment Law in the form of public-private partnership: PPP contracts and dispute settlement” co-chaired by Vietnam Association of Road System Investors (VARSI) and Vietnam International Arbitration Center (VIAC) in collaboration with the Public-Private Partnership Committee - National Council for Sustainable Development and Competitiveness Improvement, Vietnam Chamber of Commerce and Industry (VICC). Mr. Pham Minh Duc, representative of Deo Ca Group, said: “The draft of the Investment Law in the form of public-private partnership has not yet solved thoroughly the inadequacies in the actual implement process”.
The representative of Deo Ca Group stated that the PPP Law needs to clarify this issue and has detailed guidelines for regulations on supervision of contract performance during the construction investment period; settlement of investment capital for works and infrastructure systems; corporate project bonds; State budget capital and credit loans in PPP projects. According to Mr. Pham Minh Duc, PPP law-formulating agencies need to base on practical situation to develop a complete and appropriate law to make the PPP investment more transparent, fair, effective and attractive for the private investors.
Mr. Pham Minh Duc - Representative of Deo Ca Group speaks at the seminar.
Contributing opinions to this Draft Law, Assoc .Prof. Dr. Tran Chung, Chairman of VARSI said that the nature of public-private partnership investment is base on the basis of fixed-term cooperation between the State and private investors through the signing and implementation of PPP contracts in order to attract private investors to participate in providing public products and services which the State is responsible for providing.
“But many contents related to the parties, rights and obligations of the parties with the assets are the works of the project as well as the problems, disputes and handling of violations have not been fully addressed”, Assoc. Prof. Dr Tran Chung emphasized.
Also in the seminar, lawyer Le Dinh Vinh, Director of Vietthink Law Firm, arbitrator of VIAC affirmed: “The revenue level that investors and project enterprises share with the State in case of increasing revenue will be higher than the revenue shared by the State with investors, project enterprises in case of revenue reduction. In other words, the more disadvantageous part belongs to the investors and project enterprises”.
The seminar also received many comments from representatives of the National Assembly's Economic Committee, representatives of the Ministry of Planning and Investment and experts, arbitrators, investors, leaders of business enterprises in the field of road transport infrastructure.
Assoc.Prof.Dr Tran Chung - Chairman of VARSI and Lawyer Tran Huu Huynh – Chairman of VIAC co-chair the seminar
The results of the seminar will be summarized and reported to the National Assembly's Economic Committee and Ministry of Planning and Investment to study and finalize the draft PPP Law. It is expected that the PPP Law will be passed at the 9th session of the XIV National Assembly in May 2020.
Ngoc Trang
