National Assembly adopts law on public-private partnership investment

VGP – The National Assembly (NA) passed the law on public-private partnership (PPP) investment and the law on amendments and supplements to some articles of the Law on Promulgation of Legal Normative Documents during its ongoing ninth session on June 18.

June 19, 2020 2:59 PM GMT+7

Legislators at the June 18 sitting, part of the National Assembly's ninth session in Ha Noi

The law on PPP investment was adopted with 92.75% of NA deputies voting in favor.

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.

Chairman of the NA Committee for Economic Affairs Vu Hong Thanh said 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, he added.

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.

Legislators also passed a resolution approving the 2018 State budget balance on the same day.

Earlier on the same day, the legislature passed the law on amendments and supplements to some articles of the Law on Promulgation of Legal Normative Documents, with 92.96% approval.

By Vien Nhu