NO&T Asia Legal Review
Introduction
In June 2020, the National Assembly of Vietnam passed a new Law on Investment in Form of Public Private Partnership (“PPP”), which took effect from 1 January 2021 except for the ban of the build-transfer (“BT”) contract being effective from 15 August 2020 (“PPP Law”). Prior to the effective dates of the PPP Law, PPP investment was subject to Decree 63/2018 of the Government dated 4 May 2018 (“Decree 63”).
It has been reported that the Vietnamese Government will soon issue three decrees on implementation of the PPP Law, two of which will regulate the selection of investor and the financial management of a PPP project, while the third one will provide further detailed regulations on other matters (collectively, “Draft Decrees”).
In this article, we discuss the key points and the major changes of the PPP Law (including the Draft Decrees) in comparison to Decree 63.
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