On the afternoon of November 6, National Assembly deputies discussed in the hall the draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership (PPP) model and the Law on Bidding.
Delegate Tran Van Tuan, Deputy Head of the National Assembly Delegation of Bac Giang province, said that amending and supplementing a number of articles of the PPP Law will help remove difficulties and obstacles for investors, helping to free up resources in the context of limited State budget capital.
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| Delegate Tran Van Tuan, Deputy Head of the National Assembly Delegation of Bac Giang province |
Some of the revised contents are of great interest to investors, including: adding regulations on paying costs to investors when the contract is terminated before the deadline; increasing the proportion of state capital participating in PPP projects to over 50% in some special cases; adding state capital to handle the risk of reduced revenue of PPP projects.
According to this delegate, the PPP Law currently only stipulates that State capital supports infrastructure construction to increase financial efficiency for projects during the construction phase (stipulated in Clause 1, Article 70). There are no regulations on revenue support when the project declines through no fault of the investor, which causes some projects to face difficulties during the operation phase and reduces investors' confidence and interest in new PPP projects.
“Therefore, the drafting committee needs to study and add to the draft Law provisions on State capital support for PPP projects signed before the Law takes effect if necessary. At the same time, it is necessary to assign the Government to specify in detail the procedures, subjects of application, as well as the risk sharing mechanism between investors and lenders when applied in these cases,” Mr. Tran Van Tuan suggested.
Delegate Luu Ba Mac, Lang Son National Assembly Delegation, said that some localities such as Lang Son, Bac Giang, Hanoi , etc. have BOT projects signed contracts before the PPP Law took effect, have been implemented and put into operation. However, these projects are recording unexpected declines in revenue, affecting financial plans and prolonging implementation time.
Mr. Luu Ba Mac emphasized that, for projects in operation that have quantified difficulties and obstacles due to objective reasons, not originating from investors, such as planning changes, price control policy adjustments, fee exemptions, or reductions in the number of toll stations, causing traffic volume to decrease significantly compared to the original financial plan, solutions need to be found to harmonize benefits and share risks among related parties.
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| Delegate Luu Ba Mac, Lang Son National Assembly Delegation |
“We request that the Law drafting agency consider and review more carefully to remove difficulties for businesses and relevant agencies, contributing to improving the efficiency of the PPP investment method,” emphasized the delegate of Lang Son province.
Regarding the provision at Point b, Clause 16 of the draft law amending Point d, Clause 1, Article 69 of the current PPP Law, in which the goal is to use state capital to offset the reduction in revenue in PPP projects, Delegate Luu Ba Mac proposed that the Law drafting agency expand the scope of application of this provision to include projects that have been put into operation but are facing objective difficulties and need additional state capital to maintain financial efficiency.
In addition, to ensure flexibility and practicality, he proposed to add Clause 3, Article 69 of the current PPP Law, assigning the Government to specify the management and use of state capital in PPP projects. This content should include the conditions of application, support conditions and responsibilities of relevant agencies.
In addition, Mr. Luu Ba Mac said that it is necessary to adjust the mechanism for sharing increased and decreased revenue as stipulated in Article 82 of the current PPP Law, to apply to BOT projects that signed contracts before the PPP Law took effect. This helps to flexibly handle old contracts, ensure harmonious interests between the parties and be consistent with new legal changes./.
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