THE NATIONAL ASSEMBLY
THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
On Investment in the Form of Public-Private Partnership
Pursuant to the Constitution of the Socialist Republic of Vietnam;
The National Assembly promulgates the Law on Investment in the Form of Public-Private Partnership.
Article 1. Scope of regulation
This Law prescribes investment in the form of public-private partnership; state management of, and rights, obligations and responsibilities of agencies, organizations and individuals involved in, investment in the form of public-private partnership.
Article 2. Subjects of application
This Law applies to parties to contracts on investment in the form of public-private partnership, state management agencies, and agencies, organizations and individuals involved in investment in the form of public-private partnership.
Article 3. Interpretation of terms
In this Law, the terms below are construed as follows:
1. Prefeasibility study report means a document presenting preliminary studies on the necessity, feasibility and efficiency of a project on investment in the form of public-private partnership (below referred to as PPP project), serving as a basis for a competent authority to decide on investment policy.
2. Feasibility study report means a document presenting studies on the necessity, feasibility and efficiency of a PPP project, serving as a basis for a competent authority to approve the project.
3. Bid security means that an investor pays a deposit or collateral at, or obtains guarantee from, a credit institution or foreign bank branch or an insurance enterprise lawfully operating in Vietnam before the time of bid closing to secure its/his/her responsibility to participate in bidding.
4. Contract performance security means that a PPP project enterprise pays a deposit or collateral at, or obtains guarantee from, a credit institution or foreign bank branch or an insurance enterprise lawfully operating in Vietnam to secure the contract performance responsibility of investors and the enterprise.
5. Lender means an organization or individual that provides loans to an investor or a PPP project enterprise to implement a PPP project contract.
6. Bid solicitor means a professionally qualified and capable unit that is assigned by a competent agency to organize investor selection.
7. Shortlist means a list of investors having passed prequalification in case of open bidding involving prequalification, or a list of investors invited to participate in competitive negotiations.
8. PPP project enterprise means an enterprise established by an investor for the sole purpose of signing and performing a PPP project contract.
9. PPP project means a combination of investment-related proposals to provide public products and services through carrying out one or more than one of the following activities:
a/ Building, operating and commercially operating infrastructure facilities or systems;
b/ Renovating, upgrading, expanding, modernizing, operating and commercially operating existing infrastructure facilities or systems;
c/ Operating and commercially operating existing infrastructure facilities or systems
10. Investment in the form of public-private partnership (below referred to as investment in the PPP form) means a form of investment effected on the basis of definite-term cooperation between the State and private investors through signing and performing PPP project contracts in order to attract private investors to participate in PPP projects.
11. PPP project preparation unit means a unit assigned by a competent agency to prepare prefeasibility study reports and feasibility study reports and perform other relevant tasks.
12. Prequalification participation dossier means all documents made by an investor and submitted to the bid solicitor as required in the dossier of invitation to prequalification.
13. Bid dossier means all documents made and submitted by an investor to the bid solicitor as required in the bidding dossier.
14. Dossier of invitation to prequalification means all documents specifying requirements on capacity and experience of investors, serving as a basis for the bid solicitor to select a shortlist.
15. Bidding dossier means all documents used for investor selection, including requirements for project implementation as a basis for investors to prepare bid dossiers and for the bid solicitor to evaluate bid dossiers and negotiate contracts in order to select investors that satisfy project implementation requirements.
16. PPP project contract means a written agreement between a contract-signing agency and an investor or a PPP project enterprise, stating that the State empowers the investor or PPP project enterprise to implement the PPP project in accordance with this Law. Such contract may take one of the following forms:
a/ Build-Operate-Transfer (BOT) contract;
b/ Build-Transfer-Operate (BTO) contract;
c/ Build-Own-Operate (BOO) contract;
d/ Operate-Manage (O&M) contract;
dd/ Build-Transfer-Lease (BTL) contract;
e/ Build-Lease-Transfer (BLT contract);
g/ Mixed contract as specified in Clause 3, Article 45 of this Law.
17. Investor selection means a process of identifying an investor that is fully capable and experienced and has feasible solutions to implement a PPP project on the principle of ensuring competition, fairness, transparency, and economic efficiency.
18. PPP investor (below referred to as investor) means an independent legal person established in accordance with law or a partnership of legal persons participating in investment in the PPP form.
19. State capital includes state budget funds, funds from lawful revenue sources reserved for investment expenditures or regular expenditures to be covered by the state budget.
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 Công Báo Nos 719-720 (25/7/2020)