Vietnam Approves New Ppp Regulation

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On November 9, 2010, Vietnam’s Prime Minister approved a new PPP regulation entitled “Regulation on Public-Private Partnership Investment Piloting” (the “New Regulation”), which provides an updated legal framework for the procurement of pilot PPP projects in certain key sectors, including transportation, water, power, healthcare, and waste treatment infrastructure. The New Regulation comes into effect on January 15, 2011.

The New Regulation succeeds Decree 108, Vietnam’s predecessor BOT law from January 2010, and aims to provide a legal PPP framework that more closely adheres to international standards.

Adoption of the New Regulation is an important step toward achieving this goal, although the content of the New Regulation indicates that the work is not yet complete. In fact, the name of the New Regulation implies that this regulation applies to a “piloting” phase of PPP projects. The Ministry of Planning and Investment’s (MPI) Vice Minister Dang Huy Dong indicated that feedback from international PPP players on pilot projects undertaken pursuant to the New Regulation will be incorporated into Vietnam’s PPP model in furtherance of this goal, and the New Regulation assigns this task to a multi-sector task force to be established by MPI. The New Regulation also provides that it will be in effect from 3 to 5 years until a decree on PPP investment is issued by the government to replace the egulation, clearly anticipating such successor regulation.

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