Seminar features UK’s experience in PPP model
The UK’s experience in the public-private partnership (PPP) model, a scheme to better access private credit in addition to limited State budget was featured at a seminar in Ho Chi Minh City on September 3.
Addressing the event, Nguyen Thi Hong, Vice Chairwoman of the municipal People’s Committee, said the model should expand into other fields to lure investment and acquire technology.
Claire Phillips, an expert from the UK Public-Private Partnership Agency, said the model aims to meet demand for the overhaul and modernization of public services by making costs more transparent.
According to her, PPP is an important tool for procuring public services but it needs appropriate research and application in concrete fields to bring expected results.
At the event, representatives from the UK Export Credit Agency provided information about financial support for Vietnam’s PPP projects.
PPP is a model in which public projects enjoy private investment. Some industrialized nations even adopt the policy of transferring public services to the private sector.
The model is popular in transport, infrastructure, education and waste treatment, benefiting 100 countries and territories worldwide.