64/2020/QH14) (the "PPP Law") was ratified on 18 June 2020 by the Vietnamese National Assembly and will come into effect on 1 January 2021. Other sectors previously permitted under Decree 63 for PPP investment, such as commercial infrastructure will no longer be available (except to the extent that they fall within one of the above permitted sectors). Vietnam set itself the target of becoming an industrialized country by 2020 and plans to invest US$400 billion in infrastructure, half of which will be privately funded. However, the Government eventually retained five of the roads as PPPs and started calling for bids in July 2020 in respect of the following sub-projects: Prequalification was in September 2020. 2 Forms of Doing Business in Vietnam By continuing to browse this website you accept the use of cookies. PPPs offer an ideal framework for utilising private sector finance whilst also deriving the benefit of domestic and foreign expertise, know-how and innovation, both technically and technologically, and will no doubt be utilised more frequently by the Vietnamese Government going forward so as to free up an already stretched state budget and allow the roll out of many more projects. COVID-19 Vietnam situation April Social distancing May –Removal of social distancing. Click here to read more about how we use cookies. 136/2015/ND-CP of December 31, 2015, guidance on implementation of certain articles of the Law on Public Investment (EN | VN) Decree No. (EN | VN) Decree No. Build a Morning News Brief: Easy, No Clutter, Free! PPPs are not a new phenomenon in Vietnam, however, in the past investors, contractors and financiers have had to navigate a complex framework of legislative instruments to understand the legal provisions applicable to their particular infrastructure project. State contributions in cash … The official translation of the Decree on Public-Private-Partnerships Investment Form (Decree 15/2015/ND-CP) in Vietnam, issued February 2015 and becoming effective on 10 April 2015. This site uses cookies and by using the site you are consenting to this. LNT & Partners • is a major full-service independent Vietnam Law firm • represents a wide range of multinational and domestic clients, including Fortune Global 500 companies • has a highly-qualified team of over 50 professionals • has offices in Ho Chi Minh, Hanoi and … The PPP Law establishes an umbrella legal framework for all PPP projects and aims to attract more private investment to the development of Vietnam’s infrastructure. A road connecting National Highway 45 with Nghi Son in Nghe An province; The Cam Lam-Vinh Hao road, linking Khanh Hoa province with Binh Thuan province; The Nha Trang-Cam Lam road in Khanh Hoa province; and. The Ministry of Planning and Investment of Vietnam has published a new draft law on PPP investments that has since been going through the legislative process in Vietnam, with final approval slated for May of this year. 2556 (2013) (Previous PPP Act). In the context of PPP projects, with ring-fenced project financing and long concession periods, a transparent and unified legal framework is preferable in order to facilitate predictable behaviour and decision-making and ultimately, the efficient allocation of risk. Effective and thorough implementing regulations may need to follow to flesh out the detail. The law, passed in June, allows the government to share financial risks with companies. Vietnam’s Public-Private Partnership Law to come into effect from 1 January 2021 2 October 2020 On 18 June 2020, a new Public-Private Partnership Law (“ PPP Law ”) was passed by the Vietnamese National Assembly which will take effect from 1 January 2021. This decree replaces former Decree 71 on PPPs and Decree 108 on BOTs. Vietnam’s New PPP Law Set to Take Effect January 2021. The flagship road project, which the Government is currently procuring, is the 2100km North-South Expressway running the entire length of Vietnam from Hanoi to Ho Chi Minh City. Vietnam's new Law on Public-Private Partnership (Law No. 64/2020/QH14) (the "PPP Law") was ratified on 18 June 2020 by the Vietnamese National Assembly and will come into effect on 1 January 2021. On 8 July 2020, Vietnam’s first-ever Law on Investment in the form of Public-Private Partnership was published, incorporating the following recommendations suggested by Duane Morris: 1. ... Law on Public Investment. Single legal framework and investment Procurement Law 2013 PPP Law Set to Take effect January 2021 announcement... This is only the beginning of … Public-Private Partnership ( Law No in. Practices into its first PPP Law Set to Take effect January 2021 for private sector private in! 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