The Vietnamese government is trying to lure investors to the country’s infrastructure development projects amid limited public funding and experts believe the investors will come if the government can create a sound legal and regulatory environment. The key for Vietnam’s infrastructure upgrade is a well-crafted PPP law Currently, only 10% of Vietnam’s infrastructure is funded by the private sector, much lower than many other middle-income countries in Asia. However, experts at the Asian Development Bank (ADB) said that a well-structured law on private-public partnerships (PPP) is a key opportunity to upgrade Vietnam’s infrastructure as it will attract the investors. According to experts, the country’s current PPP investment regulations are not sufficient to create a comprehensive framework for investments. Naoyuki Yoshino, dean of ADB Institute, said that private investors, especially foreign investors, remain skittish about investing in infrastructure projects due to high risks, long-term payout schedules, and site clearance issues, among others. In addition, investors in infrastructure face a variety of risks such cost overrun incurred by delays in construction or land acquisition, unexpected shortages in revenue due to lower-than-forecast traffic, and unanticipated expenses. The lack of a clear risk allocation mechanism for specific sectors has also left both the… Read full this story
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