Ho Chi Minh City’s Strategic Turn: 41 PPP Projects Signal Bold Infrastructure Ambitions
Ho Chi Minh City (HCMC), Vietnam’s economic powerhouse, is charting a new course for infrastructural development through the extensive use of Public-Private Partnerships (PPPs). A recently approved landmark list of 41 projects underscores the city’s ambition to leverage private sector expertise and funding for vital public works. This decisive shift toward PPPs is underpinned by Resolution 98, a groundbreaking policy experiment providing HCMC with unprecedented authority to design and implement PPP projects.
These projects prioritize the areas of health, education, sports, and culture. The city aims to improve essential services without drawing on the state budget, with individual project investments ranging from $41 million to $290 million.
Here’s a closer look at some notable examples:
Healthcare:
Construction of Thu Duc Regional General Hospital: This high-capacity hospital promises to meet the growing healthcare needs of the rapidly developing Thu Duc City area.
Upgrade and Expansion of District 2 Hospital: Aims to enhance medical services in a densely populated district, offering expanded facilities and modern equipment.
Education:
Building Multiple New Schools in Outlying Districts: These projects target increased educational access in areas experiencing rapid population growth.
Development of a Modern High-Tech Education Complex: Envisions a hub for advanced training, potentially incorporating partnerships with international universities.
Sports and Culture:
Construction of Rach Chiec Sports Complex: A multi-purpose sports facility to promote sports development and host major events.
Revitalization of Saigon Water Puppet Theatre: Aims to preserve this iconic cultural landmark while enhancing its facilities and audience experience.
The PPP model is seen as a crucial tool to attract investment and expertise for these ambitious projects. By partnering with the private sector, HCMC aims to accelerate the development of modern infrastructure, reduce its environmental impact, and enhance the quality of life for its residents.
Contact us if you need further detailed information on the listed projects.
Disclaimer: This Legal Update is intended to provide updates on the Laws for information purposes only, and should not be used or interpreted as our advice for business purposes. LNT & Partners shall not be liable for any use or application of the information for any business purpose. For further clarification or advice from the Legal Update, please consult our lawyers: Ms HOANG Quyent at quyen.hoang@lntpartners.com.
