Vietnam: Transitional terms on PPP project contracts signed before March 1, 2023

Nguyen Thi Diem My

14:06, 09/01/2023

Below is the content mentioned in Circular 50/2022/TT-BGTVT on performance of functions and tasks of competent agencies, agencies that sign and perform investment project contracts under the mode of public-private partnership, which are managed by the Ministry of Transport of Vietnam, issued on 30 December, 2022.

Specifically, the transitional terms on PPP project contracts signed before the effective date of Circular 50/2022/TT-BGTVT (March 1, 2023) are as follows:

- Projects that have signed contracts before March 1, 2023, continue to comply with the provisions of the signed project contracts.

If the contract was signed before March 1, 2023, but the contract appendix was signed after that date, the contract appendix must be signed in accordance with the provisions of Circular 50/2022/TT-BGTVT.

- For projects that have been assigned, authorized, or transferred to a competent state agency or a contract-signing agency before March 1, 2023: they may continue to comply with the assigned documents, authorize, or transfer them to competent state agencies or contracting agencies of the Ministry of Transport of Vietnam.

- In accordance with Circular 50/2022/TT-BGTVT, the Vietnam Expressway Administration shall review and make a list of projects that have not been authorized by March 1, 2023, and submit it to the Ministry of Transport of Vietnam for authorization.

Vietnam's Circular 50/2022/TT-BGTVT takes effect from March 1, 2023 and replaces Circular 50/2018/TT-BGTVT.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

134 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn