With 444 out of 446 National Assembly delegates voting in favor (accounting for 92.69% of the total number of delegates), this afternoon, November 29th, the National Assembly officially passed the Law amending and supplementing a number of articles of the Planning Law, the Investment Law, the Law on Investment under the Public-Private Partnership Method, and the Bidding Law.
In his report on the feedback and explanations, Mr. Vu Hong Thanh, Chairman of the National Assembly's Economic Committee, stated that the Investment Law has been revised to simplify detailed content regarding documents and procedures, retaining only the necessary principles and specific provisions.
In particular, by amending and supplementing several articles of the PPP Law, the Government is restarting projects under the BT contract mechanism.
Chairman of the Economic Committee Vu Hong Thanh presented the report.
The Standing Committee of the National Assembly believes that while BT contracts have been piloted with varying regulations regarding project scope, scale, and payment methods, they have not been fully and thoroughly reviewed and evaluated. Therefore, there is insufficient basis to codify regulations on the mechanisms, procedures, and processes of BT contracts in the draft Law.
To create a legal basis for implementing the BT contract mechanism, and in response to the opinions of National Assembly deputies, the draft Law only stipulates the basic principles regarding the payment mechanism for investors for the three forms.
Specifically, BT investors are compensated with land funds, paid from the state budget, and are not required to make payments. At the same time, the regulations are amended to entrust the Government with the task of specifying the detailed BT contract mechanisms for these payment methods.
In addition, the regulations continue to stipulate the authority of the Prime Minister in establishing inter-ministerial appraisal councils; stipulate that the State Audit Office conducts audits of compensation costs and allow parties to agree on and hire independent auditors to audit these costs.
Members of Parliament participate in the voting.
The competent authority deciding on investment policies is allowed to determine a maximum state capital ratio of 70% for eligible projects.
The law also adds provisions allowing independent projects or PPP component projects to separate compensation and resettlement support costs using public investment capital, applying a maximum state capital ratio of 70% of the total investment if conditions regarding location or technology transfer are met.
Specifically, the revised law increases the direct contracting limit from 100 million to 300 million VND for procurement packages that do not involve project development. At the same time, it eliminates the distinction in direct contracting limits between packages using recurrent expenditure funds and public investment funds.
The law also adds provisions for direct contracting for archaeological excavation and restoration projects of national-level relics, special national-level relics, and world cultural heritage sites. The law also amends regulations ensuring fair competition between bidders and consulting firms within the same bidding package for projects belonging to state-owned economic groups, parent companies, and subsidiaries.
The law will take effect from January 15, 2025, except for BT projects paid for with land funds and BT contracts paid for with the state budget, which will take effect from July 1, 2025.
Source: https://vtcnews.vn/quoc-hoi-dong-y-khoi-dong-lai-du-an-bt-doi-dat-lay-ha-tang-ar910480.html
![[Photo] Prime Minister Pham Minh Chinh presides over a meeting on private sector economic development.](/_next/image?url=https%3A%2F%2Fvphoto.vietnam.vn%2Fthumb%2F1200x675%2Fvietnam%2Fresource%2FIMAGE%2F2025%2F12%2F20%2F1766237501876_thiet-ke-chua-co-ten-40-png.webp&w=3840&q=75)
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