Improving the procedural framework for PPP project implementation in Vietnam: a practice-based reform approach

Abstract

During the period 2021–2023, although the Law on Public–Private Partnership (PPP) of 2020 and Decree No. 35/2021/ND-CP established an initial legal framework, PPP project implementation in Vietnam continued to face significant challenges. Only a limited number of projects were approved and successfully tendered due to the lack of detailed technical guidance, limited appraisal capacity, and unclear risk-sharing and guarantee mechanisms. In addition, inter-agency coordination remained fragmented, and transparent monitoring and supervision tools were insufficient. This study proposes improvements to technical guidelines tailored to different types of PPP contracts, enhancement of local human resource capacity, and the application of digital solutions for monitoring and cross-evaluation. Furthermore, it emphasizes the need to stabilize medium-term financial planning, develop contingency funds, and apply quantitative risk assessment tools. These solutions aim to standardize, enhance transparency, and improve the effectiveness of PPP implementation processes, thereby increasing the capacity to mobilize private resources and promoting sustainable infrastructure development in line with the new orientations set out in Law No. 90/2025/QH15 and Decree No. 71/2025/ND-CP.