Dossier, Content, and Adjustment of Investment Policy for PPP Project by the Competent Authority.

Files, content, and adjustment of PPP investment policy by the competent authority. (illustrative image)

In Articles 16, 17, and 18 of the Law on Investment by Public-Private Partnership 2020, the regulations on the application dossier, decision content, and adjustment of the policy are specified as follows:

First, regarding the application dossier for the decision of the PPP investment policy, it includes 5 contents:

1. Proposal for the decision on the investment policy.
2. Draft decision on the investment policy.
3. Pre-feasibility study report.
4. Evaluation report on the pre-feasibility study; verification report for projects with investment policies decided by the National Assembly.
5. Other relevant legal documents of the project.

Second, the decision content includes:

1. The decision on investment policy includes the following main contents:

- Project name;- Name of the competent authority;- Objectives; estimated scale, location, project implementation time, land and other resource use requirements;- Expected type of PPP project contract;- Preliminary total investment; preliminary financial plan: capital structure in the project, expected price framework, service fees for projects applying the direct user fee collection mechanism;- Investment assurance mechanism, revenue reduction sharing mechanism.

2. For high-tech application projects or new technology application projects, in addition to the provisions of Clause 1 of this Article, the investment policy decision content also includes the name of the bidder, the form of investor selection, and the time for organizing investor selection.

Third, when and how is the policy adjusted?

1. The PPP project investment policy is adjusted when there is a change in objectives, location, scale, type of PPP project contract, an increase in total investment from 10% or more or an increase in the value of state capital in the PPP project in the following cases:

- Project affected by force majeure;- Planning, policies, related laws change;- When adjusting the feasibility study report.

2. The authority that decides the PPP project investment policy is the one deciding on the adjustment of the investment policy and is responsible for its decision.

3. The procedure for submitting the adjustment of the PPP project investment policy to the competent authority shall follow the regulations in Article 13 of the Law on Investment by Public-Private Partnership on the content adjustment.

4. The dossier for adjusting the investment policy includes:

- Proposal for adjusting the investment policy;- Content adjustment of the pre-feasibility study report;- Evaluation report, verification report on the content adjustment of the pre-feasibility study report;- Other relevant legal documents of the project.

More details can be found in the Law on Investment by Public-Private Partnership 2020, effective from January 1, 2021.

Thanh Thao

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