The deputy finance minister Tran Xuan Ha said at a meeting with World Bank officials that the government would use a mix of public and private financing to meet Vietnam’s rising infrastructure deficit.
Xuan Ha said state funding should not be used where private sector funding "could do well", according to local press. He added that the state should instead provide guarantees and additional funding, if needed, under a PPP agreement.
The government’s next steps would be to set up a PPP framework for each sector and region, said the minister.
Victoria Kwakwa, the World Bank’s director for Vietnam, was at the meeting and urged officials to deliver some pilot PPP projects to attract investors.
The World Bank has already set various loan facilities for the development Vietnam’s infrastructure.