Deputy Prime Minister, Hoang Trung Hai, made the remark at the first meeting of the PPP Steering Committee on November 20.
PPP is a modern investment model, requiring co-operation between the State and private investors in implementing projects on infrastructure development and providing public services.
However, the implementation of the PPP model has encountered many hurdles and many proposed projects have not been initiated due to the lack of a suitable legal regime, the Ministry of Planning and Investment (MPI) reported.
Speaking at the meeting, Deputy PM Hai, stressed that the PPP model has been a popular means of attracting investment in other countries around the world and it is necessary for Vietnam to adopt such a model, given the high demand for infrastructure development and tighter budgetary control by the government.
He asked the MPI to provide a package of necessary legal articles to support the existing legal mechanism pertaining to PPP. He also emphasised that the amendments to legal documents would be a primary task of the Ministry in the next year, along with the improvement of their operations.
In addition, he suggested specialised agencies focus on training and hiring expert consultants in the field, to ensure the success of projects under the PPP model.
