Justice, law and legal concept. Judge gavel and law books. 3d illustration
On June 18, 2020, the National Assembly (“NA“) passed the Law on Public-Private Partnership (“PPP“) Investment with 92.75% of NA deputies voting in favor. The law applies to parties to investment agreements under PPP method, competent regulatory agencies and agencies and organizations and individuals involved investment activities under PPP method.
Comprising 11 chapters with 101 articles, the Law regulates investment activities and private investment attraction in some important and essential infrastructure areas under the PPP model.
The law aims to create a sufficiently strong legal corridor for relevant parties to fulfill their obligations in PPP contracts.
It also demonstrates the State’s legal commitment to domestic and foreign investors, thus encouraging investors to join the State in PPP projects.
The Law focuses on five essential areas: transport; power grid and plants; irrigation, clean water supply, water drainage, and wastewater and waste treatment; healthcare and education – training; and information technology infrastructure, especially in period from 2021 to 2030.
For more details, please see the attached file herewith.