New contractor selection rules to lure private investment
The Government has recently issued a decree detailing provisions of the Bidding Law regarding selection of investors.
Decree No. 30/2015/ND-CP, which will take effect early next month, regulates the selection of investors to implement investment projects in the form of public-private partnership (PPP) and projects to build new urban centers, commercial houses, trade and service centers and multi-purpose complexes on land plots of high value.
Addressing a meeting held late last month to introduce the new regulations, Le Van Tang, director of the Ministry of Planning and Investment’s Department of Public Procurement, said although the PPP scheme had been launched on a pilot basis in Vietnam since 2010, the country still saw limited results in the lure of investment capital from the private sector partly due to the lack of regulations governing the model.
In this context, together with Decree No. 15/2015/ND-CP on investment in the PPP form, the issuance of Decree 30 helps complete the existing legal framework and is expected to draw a new wave of domestic and foreign investments into developing the country’s infrastructure…