Economics - Politics

Vietnam looks to boost cooperation with WEF in infrastructure

Thursday, November 16, 2017

The Ministry of Planning and Investment held a workshop on November 16 in Hanoi to seek measures to intensify cooperation between Vietnam and the World Economic Forum (WEF) in the field of infrastructure.

Deputy Minister of Planning and Investment Nguyen Van Hieu (Source: VNA)

Participants discussed cooperation orientations between the Vietnamese Government and the WEF, assessed opportunities and challenges in investing in infrastructure in Vietnam, and sought ways to promote Sustainable Development Investment Partnership (SDIP) in order to push sustainable infrastructure development, especially through the public-private partnership (PPP) form.

Deputy Minister of Planning and Investment Nguyen Van Hieu said he hopes to receive useful recommendations and advice to help Vietnam complete its legal framework and improve investment climate related to infrastructure.

Alex Wong, head of Global Challenge Partnerships and Member of the Executive Committee of the WEF, said that PPP will bring about huge benefits as Vietnam needs a huge amount of money to invest in infrastructure.

However, he noted that PPP is a long-term relationship and is effective only when the parties share responsibilities and risks.

He suggested the private business sector and economists straightforwardly exchange views on challenges hindering PPP in Vietnam.

He expressed his hope for the establishment of a working group on Vietnamese infrastructure.

 

Source: VNA

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