UK businesses show interest in PPP in Vietnam

March 21, 2011 | 20:44

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The United Kingdom wants to exchange experiences and help Vietnam develop infrastructure through the public-private partnership (PPP) model that has made important contributions to the changing face of infrastructure in the UK during the past 50 years.

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Lord Mayor of the City of London, Alderman Michael Bear made the statement at a seminar themed, “Realising PPP opportunities in Vietnam”, jointly organised by the British Embassy, the UK Trade and Investment Agency and the Ministry of Planning and Investment in Hanoi on March 21.

Michael Bear said he hoped Vietnam would continue to consider UK as a strategic partner, especially since the PPP cooperation model would play a key role in the fields of mobilising capital, purchasing equipment and bidding to develop infrastructure.

Deputy Minister of Planning and Investment Dang Huy Dong affirmed that Vietnam highly values the experience and strength of the UK in carrying out PPP projects, adding that Vietnam has a legal framework to ensure that these projects would be implemented in a transparent and fair way and in accordance with international standards.

According to the British embassy, the UK has significant experience in developing PPP models that have created a foundation for modernising public services in the country, with over 900 projects and a combined investment from private businesses of $100 billion over the past 12 years.

Vietnam and the UK plan to raise bilateral trade to $4 billion and the UK’s direct investment in Vietnam to $3 billion by 2013.

The seminar was held within the framework of Alderman Michael Bear’s visit to Vietnam from March 19-24.

VIR/VNA

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