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Relevant PPP for Vietnam

Talk for National Assembly representatives on 23 November 2013
by

Stanley Boots

on 18 May 2014

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Transcript of Relevant PPP for Vietnam

Making PPP relevant for Vietnam
UK Experience
PFI started in early 1990s
717 PFIs through July 2012
Philippine Experience
Well recognized law covering PPPs
47 active PPP Projects
Vietnam
Needed: approximately $17 billion per year from 2010-2020
50% to come from private sector investment
Equals: $8.5 billion per year
2012: only about $3 billion signed up
1200 MW power plant: $2.3 billion

Airport terminal: $430 million

University: $190 million

Hospital: $132 million

200 km highway: $2.2 billion
How much do PPPs cost?
Cost: $8.6 billion
Maximizing Vietnam's PPP Potential
Bold, clear, relevant and usable PPP decree
Consistency across laws
Coherent PPP investment program
Decree on PPP
Law on Investment
Key legislation affecting PPP program
Law on Public Procurement
Law on State Budget
Law on Public Investment
Needed tools for the PPP decree
Clearly defined concept for State participation and funding of PPPs
Flexible payment mechanisms
user fees
adjustable tariffs
availability payments
guarantees
Guarantees
Project Approval
Key element for successful PPP decree
The decree needs to clearly indicate the range of guarantees available and how they are approved.
Flexible contract form
The acronyms mean very little.
BOT, DBFOM, BTL
The contract defines:
expected performance
rights and obligations
risk allocation
state support
based on feasibility study
occurs before investors become involved
Proposed PPP Cycle
Project identification and listing
1
3
Pre-feasibility and Feasibility
determine output
risk allocation
optimize structure
State support
Project Approval
2
Investor selection
4
Contract
5
structure
output
key commercial terms
risk allocation
state support
competition
negotiate
implement
monitor
Source: (http://ppp.gov.ph/?page_id=5663)
PPPs require some form of state funding
Caps limit the State's options
Need a variety of mechanisms for Viability Gap Funding
Full transcript