Evaluation of decision making policy on public private partnership transport projects in Vietnam

Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.Evaluation of decision making policy on public private partnership transport projects in Vietnam.

MINISTRY OF EDUCATION AND TRAINING FOREIGN TRADE UNIVERSITY MASTER THESIS EVALUATION OF DECISION-MAKING POLICY ON PUBLIC - PRIVATE PARTNERSHIP TRANSPORT PROJECTS IN VIETNAM Specialization: International Trade Policy and Law NGUYEN THI MINH HIEU Hanoi - 2023 MINISTRY OF EDUCATION AND TRAINING FOREIGN TRADE UNIVERSITY MASTER THESIS EVALUATION OF DECISION-MAKING POLICY ON PUBLIC - PRIVATE PARTNERSHIP TRANSPORT PROJECTS IN VIETNAM Major: International Economics Specialization: International Trade Policy and Law Code: 8310106 Full name: Nguyen Thi Minh Hieu Supervisor: Dr Ly Hoang Phu Hanoi - 2023 i DECLARATION I hereby state that the work is that of the author solely except where due acknowledgement has been made The contents and results of this Thesis are completely honest The information, data and documents which are collected from various sources for analysis and evaluation have been fully cited in the main content and in the references list of this master thesis as well I make this statement in full knowledge of and understanding that, should it be found to be false, I will not receive a grade and may face disciplinary proceedings Nguyen Thi Minh Hieu July 2023 ii ACKNOWLEDGEMENTS The Master program in International Trade Policy and Law at the Foreign Trade University presents a remarkable opportunity for me to fulfill my aspirations to find effective tools for policy creation and evaluation I would like to express my deepest gratitude to Foreign Trade University, Faculty of Graduate Studies, teachers, and other specialists, who always supports during my study with their knowledge, encouragement and sharing My sincerest gratitude goes to my supervisor, Dr Ly Hoang Phu, for his intellectual advice and guidance over my thesis His knowledgeable advice is a compass for my journey throughout my dissertation This endeavor would not have been possible without inspiration, enthusiasm, and dedication from the lecturers of Assoc Prof Hoang Xuan Binh, Assoc Prof Nguyen Thi Tuong Anh, Dr Luong Thi Ngoc Oanh I have been enlightened with new horizons from knowledge from each session, which I have applied in this thesis iii TABLE OF CONTENT DECLARATION i ACKNOWLEDGEMENTS ii TABLE OF CONTENT iii LIST OF EQUATIONS vi LIST OF FIGURES vii LIST OF TABLES viii LIST OF ABBREVIATIONS ix ABSTRACT .x INTRODUCTION .1 Rationales for the research Objective and scope of the study .2 Research question .3 Methodology Literature review Thesis structure CHAPTER Theoretical framework OF EVALUATION OF DECISIONMAKING POLICY ON PPP TRANSPORT PROJECT 1.1 Overview of Evaluation of Decision-making policy on PPP transport project 1.1.1 Key definitions and History of Evaluation of Decision-making policy on PPP transport project 1.1.2 Process of Evaluation of Decision-making policy on PPP transport project .11 1.1.3 Stakeholders of Evaluation of Decision-making policy on PPP transport project .14 1.2 Criteria to Evaluate Decision-making policy on PPP transport project 16 1.2.1 Effectiveness criteria .17 1.2.2 Efficiency criteria 19 iv 1.3 Case studies of evaluating decision-making policy on PPP transport project in some countries 24 1.3.1 Evaluate policy on decision-making in Koudougou Bus Station in Burkina Faso 24 1.3.2 Evaluate policy on decision-making in Delhi-Gurgaon Toll Road Project in India 25 CHAPTER ANALYSIS OF DECISION-MAKING POLICY ON PPP TRANSPORT PROJECT IN VIETNAM 27 2.1 Overview of Evaluation of Decision-making policy on PPP transport project in Vietnam 27 2.1.1 Key Definitions and History of Evaluation of Decision-making policy on PPP transport project in Vietnam 27 2.1.2 Process of Evaluation of Decision-making policy on PPP transport projects in Vietnam 31 2.1.3 Stakeholder of Evaluation of Decision-making policy on PPP transport project in Vietnam 33 2.2 Apply Evaluation Criteria to Decision-making Policy on PPP transport project in Vietnam 36 2.2.1 Effectiveness criteria .36 2.2.2 Efficiency criteria 43 2.3 Some case studies of Decision-making policy on PPP transport project in Vietnam 50 2.3.1 Evaluate policy on decision-making in Binh Loi PPP project 50 2.3.2 Evaluate policy on decision-making North-South expressway PPP project .52 2.3.3 Evaluate policy on decision-making Thai Nguyen - Cho Moi PPP project .52 2.4 Assessment of Decision-making policy on PPP transport project in Vietnam 54 v 2.4.1 Strengths of Decision-making policy on PPP transport project in Vietnam 54 2.4.2 Weaknesses of Decision-making policy on PPP transport project in Vietnam 57 CHAPTER RECOMMENDATIONS FOR DECISION-MAKING POLICY ON PPP TRANSPORT PROJECT IN VIETNAM .60 3.1 Document relating to orientation of Decision-making policy on PPP transport project in Vietnam .60 3.2 Recommendations to Policymakers 61 3.3 Solutions to other Stakeholders in Decision-making policy on PPP transport project 65 3.3.1 Recommendations to Decision-making Authority .65 3.3.2 Recommendations to Competent Authority 66 3.3.3 Recommendations to Project Assessment Board 71 3.3.4 Recommendations to Preparing Unit 73 CONCLUSION 76 LIST OF REFERENCES .77 LIST OF LEGAL DOCUMENTS 84 Appendix an example of legal basis of a PPP project 85 Appendix an example of a BOT project financial analysis .87 vi LIST OF EQUATIONS Equation 1.1 NPV by Discounted Cash Flow method .21 Equation 1.2 NPV by Adjusted Present Value method 22 Equation 1.3 IRR by algebraic method 23 Equation 1.4 BCR by Traditional method .23 Equation 1.5 BCR by Present value method 24 Equation 2.1 Economic NPV as regulated by Vietnam law 47 Equation 2.2 Economic IRR as regulated by Vietnam law .48 Equation 2.3 BCR as regulated by Vietnam law .48 Equation 2.4 Return on Equity as regulated by Vietnam law 49 Equation 2.5 Discount rate as regulated by Vietnam law 50 vii LIST OF FIGURES Figure 1.1 Criteria to evaluate policy on decision-making PPP transport project 16 Figure 2.1 Process of PPP project in Vietnam 31 Figure 2.2 Process of decision-making PPP transport project in Vietnam 32 viii LIST OF TABLES Table 2.1 Current legal framework on PPP transport project decision-making in Vietnam .37 Table 2.2 Bases for PPP transport project decision-making in Vietnam 39 Table 2.3 Benefits for users of North - South expressways compared to national highway .46 Table 3.1 Advantages and disadvantages of DCF and APV method in NPV calculation 68 Table 3.2 Advantages and disadvantages of Trial and Error or Iterative and Algebraic Approach method in IRR calculation .69 Table 3.3 Advantages and disadvantages of Traditional and Present Value method in BCR calculation 70 73 can lead to biased results and unreliable decision-making; Time lag: BCR analysis often assumes that project costs and benefits are incurred and realized at the same time, which can be unrealistic in practice There can be a time lag between when costs are incurred and when benefits are realized, which can affect the accuracy of the BCR; Externalities: BCR does not account for externalities or the knock-on effects of a project on society For example, a transport project may reduce congestion and travel times, but it may also have negative environmental impacts that are not considered in the BCR analysis; Intangible benefits: BCR analysis is limited to the quantifiable and monetizable benefits of a project It does not capture the non-monetized, intangible benefits of a project that may be important to stakeholders, such as improved quality of life or social cohesion; Comparability: BCR analysis assumes that the costs and benefits of different projects are comparable However, this may not be the case, particularly when comparing projects with different objectives or impacts Therefore, it is recommended to the Board of Assessment to require: (i) comparison between methods to calculate BCR; and (ii) presentation of the shortcomings of the BCR result, as mentioned above 3.3.4 Recommendations to Preparing Unit The preparing unit plays a significant role in assessing the technical feasibility and of a project They are responsible for conducting in-depth studies and analyses to determine if the project is technically viable and achievable Therefore, preparing unit should evaluate the project's technical feasibility to ensure that the proposed solution is feasible and can be implemented successfully This can include an assessment of the technical specifications, equipment, and infrastructure required for the project To ensure the technical feasibility of a project, here are some recommendations: (1) Conduct a comprehensive feasibility study: Start by conducting a thorough feasibility study to assess the technical requirements and challenges of the project 74 This study should include an analysis of the existing technology, infrastructure, and resources needed to successfully implement the project Identify any potential technical constraints or risks that could impact the project's viability (2) Engage qualified technical experts: Seek the input and expertise of qualified technical professionals who have experience in the specific field or industry related to your project They can provide valuable insights, identify potential technical hurdles, and offer suggestions to ensure feasibility (3) Set realistic and achievable goals: Clearly define the project's technical objectives and ensure they are realistic and attainable within the given constraints Avoid setting unrealistic expectations, which can result in technical challenges and failed outcomes (4) Conduct a prototype or proof of concept: Before fully committing to the project, develop a prototype or proof of concept to test the technical feasibility This allows you to evaluate and validate the project's technical aspects, identify any potential issues early on, and make necessary adjustments or improvements based on the feedback received (5) Collaborate with stakeholders: Involve relevant stakeholders, including technical experts, vendors, suppliers, and end-users, throughout the project development phase Their insights and feedback can help identify potential technical feasibility issues and provide valuable input to enhance the project's success (6) Continuously monitor and adapt: Regularly monitor the project's progress and performance, and be prepared to adapt and make necessary adjustments as challenges or new technologies emerge Embrace a flexible approach that allows for agility and responsiveness to changing technical requirements (7) Keep abreast of technological advancements: Stay up to date with the latest technological advancements, industry best practices, and emerging trends relevant to your project Incorporating innovative solutions and technologies can enhance the technical feasibility and overall success of the project 75 It should be noted that technical feasibility is just one aspect of project feasibility It should be analyzed in conjunction with other factors, such as economic, legal, operational, and scheduling feasibility, to ensure a comprehensive assessment of the project's viability and likelihood of success 76 CONCLUSION Overall, this dissertation has provided material to approach three objectives (as mentioned in the Introduction): - To introduce and analyze Generality of Evaluation of Decision-making policy on PPP transport project over the world - Applied the analysis in Chapter to review and analyze Decision-making policy on PPP transport project in Vietnam and identify its strengths and weaknesses - To provide recommendations for improving the Decision-making policy on PPP transport project in Vietnam to ensure the success of PPP projects and promote effectiveness and efficiency It is concluded that, the Hypothesis (The current policy on decision-making for PPP transport projects in Vietnam is not fully efficient in terms of resource utilization and cost-effectiveness) is suitable Although there have been studies and surveys, the thesis data is mainly about BOT projects Meanwhile, there are types of PPP projects (BOT, BOT, O&M, BOO, BTL, BLT, mixed) The reason for this limitation is that in the past time, Vietnam has mainly implemented BOT projects, there is no data on other types of contracts Thus, a limitation and also possible future research, is the study of policy on decision-making with other types of contracts of the PPP method In which, the type of O&M project contract is the most potential topic, so as to increase the mobilization of social resources in Operate and Maintain traffic projects have been built as: Project to build a number of expressway sections on the East North - South route in the period of 2017 – 2020, period 2021 - 2025; Project Ring Road Ho Chi Minh City, Khanh Hoa - Buon Ma Thuot, Bien Hoa - Vung Tau and Chau Doc Can Tho - Soc Trang./ 77 LIST OF REFERENCES ADB, EBRD, IDB, IsDB, and WBG, APMG Public-Private Partnership Certification Guide, Chapter 4: Appraising PPP Projects, Washington, DC: World Bank Group 2016 at https://ppp-certification.com/sites/www.pppcertification.com/files/documents/chapter-4-appraising-ppp-projects.pdf Adetola, Alaba, J Goulding, et al, Road Transport Infrastructure Management in Selected Countries: An Appraisal, University of Central Lancashire (UCLAN) Preston, UK 18–20 March 2013, 2013, p 399 Adetola, Alaba, Jack Goulding, et al, A Critical Appraisal of Road Transport Infrastructure Management in Nigeria, Public Private Partnerships, 2011, p 77 Asian Development Bank, Public-Private Partnership for Infrastructure Development in Vietnam, Manila 2017 Baah-Mintah, Richard, and Mohammed Saani Adams, Appraisal of PublicPrivate Partnership in Public Transport Service Delivery: A Case of Metro Mass Transit (MMT) Limited, Ghana, International Journal of Research in Social Sciences, 2.4/2012, p 427 – p 440 Boardman, Anthony, and Mark Hellowell, A Comparative Analysis and Evaluation of Specialist PPP Units’ Methodologies for Conducting Value for Money Appraisals, Journal of Comparative Policy Analysis: Research and Practice, 19.3/2017, p 191 – p 206 Buxbaum, Jeffrey N., and Iris N Ortiz, Public Sector Decision Making for Public-Private Partnerships, Transportation Research Board, 2009 Cole, Stuart Applied Transport Economics: Policy, Management, and Decision Making Kogan Page Publishers, 1998 Cui, Caiyun, et al, Review of Studies on the Public–Private Partnerships (PPP) for Infrastructure Projects, Management, 36.5/2018, p 773 – p 794 International Journal of Project 78 10 Dablanc, Laetitia "Goods transport in large European cities: Difficult to organize, difficult to modernize." Transportation Research Part A: Policy and Practice 41.3/2007, p 280- p 285 11 Dyson, Stephen Benedict, and Thomas Preston, Individual characteristics of political leaders and the use of analogy in foreign policy decision making, Political psychology 27.2/2006, p 265- p 288 12 Fischer, Thomas B, Comparative Analysis of Environmental and SocioEconomic Impacts in SEA for Transport Related Policies, Plans, and Programs.” Environmental Impact Assessment Review, 19.3/1999, p 275 – p 303 13 Gannon, Mark John, and Nigel John Smith, An Effective Outline Business Case to Facilitate Successful Decision-Making, Construction Management and Economics, 29.2/2011, p 185 – p 197 14 Givoni, Moshe, Addressing transport policy challenges through policypackaging, Transportation Research Part A: Policy and Practice 60 (2014): 18 15 Grant-Muller, S M., et al, Economic Appraisal of European Transport Projects: The State-of-the-Art Revisited, Transport Reviews, 21.2/2001, p 237 – p 261 16 Groenleer, Martijn, et al, Applying Western Decision-Making Theory to the Study of Transport Infrastructure Development in China: The Case of the Harbin Metro, Policy and Society, 31.1/2012, p 73 – p 85 17 Hai, Dinh Tuan, et al, Critical Success Factors for Implementing PPP Infrastructure Projects in Developing Countries: The Case of Vietnam, Innovative Infrastructure Solutions, 7/2022, p – p 13 18 Hall, David, PPPs in the EU: A Critical Appraisal, 2008 at https://gala.gre.ac.uk/id/eprint/2880/ 19 Hu, Xiaowei, and Juan Han, Highway Project Value of Money Assessment under PPP Mode and Its Application, Journal of Advanced Transportation, 2018/2018 79 20 Huang, Ying, et al, Information Integration Framework for a Public–Private Partnership System of an Urban Railway Transit Project (Part A: System Architecture), Journal of Industrial Information Integration, 25/2022, p 100 – p 244 21 Idris, Aliyu, et al, Public Private Partnership in Nigeria and Improvement in Service Delivery: An Appraisal, Journal of Humanities and Social Science, 10.3/2013, p 63 – p 71 22 Jokar, Ebrahim, et al, Assessing and Prioritizing Risks in Public-Private Partnership (PPP) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods, Operations Research Perspectives, 8/2021, p 100 – p 190 23 Kim, Soo Yong, and Thuc Dinh Le, Evaluating the Impact Index of Key Barriers to Public-Private Partnership Transportation Projects in Vietnam: Comparison between Selected Asian Countries, Journal of Urban Planning and Development, 147.2/2021, p 402 – p 1016 24 Koppenjan, Joop, et al, Public–Private Partnership and Mega-Projects, Decision-Making on Mega-Projects, 2008, p 189 25 Kwak, Young Hoon, et al, Towards a Comprehensive Understanding of Public Private Partnerships for Infrastructure Development, California Management Review, 51.2/2009, p 51 – p 78 26 Le, Phuong Thi, et al Taxonomy of risks in PPP transportation projects: A systematic literature review, International Journal of Construction Management 22.2/2022, p 166- p 181 27 Le, Phuong Thi, Konstantinos Kirytopoulos, et al, Taxonomy of Risks in PPP Transportation Projects: A Systematic Literature Review, International Journal of Construction Management, 22.2/2022, p 166 – p 181 28 Le, Phuong Thi, Nicholas Chileshe, et al, Investigating the Significance of Risks in BOT Transportation Projects in Vietnam, Engineering, Construction and Architectural Management, 27.6/2020, p 1401 – p 1425 80 29 Leviäkangas, Pekka, et al, An Integrated Ecosystem Model for Understanding Infrastructure PPPs, Utilities Policy, 42/2016, p 10 – p 19 30 Likhitruangsilp, Veerasak, et al, A Comparative Study on the Risk Perceptions of the Public and Private Sectors in Public-Private Partnership (PPP) Transportation Projects in Vietnam, Engineering Journal, 21.7/2017, p 213 – p 231 31 Likhitruangsilp, Veerasak, Sy Tien Do, and Masamitsu Onishi, A comparative study on the risk perceptions of the public and private sectors in public-private partnership (PPP) transportation projects in Vietnam, Engineering Journal 21.7/2017, p 213- p 231 32 Lv, Junna, et al, Alternative Model to Determine the Optimal Government Subsidies in Construction Stage of PPP Rail Transit Projects under Dynamic Uncertainties, Mathematical Problems in Engineering, 2020/2020, p – p 12 33 Macário, Rosário, et al, Understanding Pitfalls in the Application of PPPs in Transport Infrastructure in Portugal, Transport Policy, 41/2015, p 90 – p 99 34 Macharis, Cathy, et al, The Multi-Actor Multi-Criteria Analysis (MAMCA) Application in the Flemish Long-Term Decision Making Process on Mobility and Logistics, Transport Policy, 17.5/2010, p 303 – p 311 35 Mackie, Peter, et al, Transport Appraisal Revisited, Research in Transportation Economics, 47/2014, p – p 18 36 Malvestio, Anne Caroline, et al, The Consideration of Environmental and Social Issues in Transport Policy, Plan and Programme Making in Brazil: A Systems Analysis, Journal of Cleaner Production, 179/2018, p 674 – p 689 37 Martimort, David, and Stephane Straub, How to Design Infrastructure Contracts in a Warming World: A Critical Appraisal of Public–Private Partnerships, International Economic Review, 57.1/2016, p 61 – p 88 38 Minister of Municipal Affairs, Government of India, Public-Private Partnership A Guide for Local Government, India 1999 81 39 Ministry of Finance, Government of India, Guidebook for PPP Framework in India, India 2018 40 Ministry of Transportation, Government of Vietnam, Report of PPP Project 2023, Hanoi 2023 41 Ministry of Transportation, Government of Vietnam, Report of transport Project 2022, Hanoi 2022 42 Navalersuph, Nanpaphathr, and Chotchai Charoenngam, Governance of Public–Private Partnerships in Transportation Infrastructure Projects Based on Thailand’s Experiences, Case Studies on Transport Policy, 9.3/2021, p 1211 – p 1218 43 Neto, Dimas de Castro e Silva, et al, PPP Development and Governance in Latin America: Analysis of Brazilian State PPP Units, Journal of Infrastructure Systems, 26.2/2020, p 502 – p 503 44 Nguyen, Duc Luong, and Nowarat Coowanitwong, Strategic Environmental Assessment Application for Sustainable Transport-Related Air Quality Policies: A Case Study in Hanoi City, Vietnam, Environment, Development and Sustainability, 13/2011, p 565 – p 585 45 Nguyen, Lam Canh, and Theo Notteboom, Public-Private Partnership Model Selection for Dry Port Development: An Application to Vietnam, World Review of Intermodal Transportation Research, 6.3/2017, p 229 – p 250 46 Nguyen, Phong Thanh, et al, Success Factors for Public-Private Partnership Infrastructure Projects in Vietnam, International Journal on Advanced Science, Engineering and Information Technology, 10.2/2020, p 858 – p.865 47 Nhat, M N., et al, A Pilot-Study Investigating the Assessment and Allocation of Risks in Public-Private Partnership Transportation Projects in Vietnam, Proceedings 30th Annual Association of Researchers in Construction Management Conference, ARCOM 2014, Citeseer, 2014, p 1419 – p 1428 48 Oroleye, Anthony Kayode, Appraisal of Road Transport Policy Reform in Nigeria: A Case of Infrastructural Deficit, Journal of Governance and Public Policy, 6.3/2019, p 216 – p 235 82 49 Priemus, Hugo, et al Decision-Making on Mega-Projects: Cost-Benefit Analysis, Planning and Innovation Edward Elgar Publishing, 2008 50 Ren, Guoqian, et al, A BIM-Based Value for Money Assessment in PublicPrivate Partnership: An Overall Review, Applied Sciences, 10.18/2020, p 6483 51 Roumboutsos, Athena, Public Private Partnerships in Transport: Trends and Theory, Routledge, 2015 52 Shaoul, Jean, A Financial Analysis of the National Air Traffic Services PPP, Public Money and Management, 23.3/2003, p 185 – p 94 53 Smith, Nigel J., and Mark Gannon, Political Risk in Light Rail Transit PPP Projects, Proceedings of the Institution of Civil Engineers-Management, Procurement and Law, 161.4/ 2008, p 179 – p 85 54 Susan Purdon, Carli Lessof, Kandy Woodfield and Caroline Bryson, Research methods for policy evaluation, National Centre for Social Research, 2001 55 Tánczos, Katalin, and Gi Seog Kong, A Review of Appraisal Methodologies of Feasibility Studies Done by Public Private Partnership in Road Project Development, Periodica Polytechnica Transportation Engineering, 29.1– 2/2001, p 71 – p 81 56 Tavasszy, Lóránt, and Vasco Reis, Appraisal of Freight Projects and Policies, Advances in Transport Policy and Planning, Elsevier, 7/2021, p 205 – p 233 57 The United Nations Development Program, Handbook on Planning, Monitoring and Evaluating for Development Results, 2009 58 Theodolou, S Z and C Kofinis, The art of the game: Understanding American public policy making, 2004 59 UK Treasury, Guidance on the Pre-Qualification Questionnaire and Selection stage for Public Private Partnership (PPP) projects, UK 2022 60 United Nations Development Program (UNDP), Handbook on monitoring and evaluating for results, 1997 83 61 Van Du, Nguyen, et al, Assessing Stakeholder Satisfaction in PPP Transport Projects in Developing Countries: Evidence from Vietnam, Built Environment Project and Asset Management, 12.2/2022, p 309 – p 324 62 Vietnam Chamber of Commerce and Industry, Public-Private Partnership in Infrastructure Development - From Theory to Practice, Hanoi 2015 63 Ward, John, et al, The Planning and Appraisal of Mega Transport Infrastructure Projects Delivered by Public–Private Partnerships: The Case for the Use of Policy-Led Multi-Criteria Analysis, Organization, Technology & Management in Construction: An International Journal, 11.1/2019, p 1992 – p.2008 64 World Bank Group, Public-Private Partnership (PPP) in Transport Sector in Vietnam, Washington 2017 84 LIST OF LEGAL DOCUMENTS Law on Investment under the mode of public-private partnership dated June 18, 2020; Law on Road Traffic dated November 13, 2008; Law on Public Investment dated June 13, 2019; Law on Construction dated June 18, 2014 and the Law amending and supplementing a number of articles of the Law on Construction dated June 17, 2020; Law on Bidding dated November 26, 2013; Law on Enterprises dated June 17, 2020; Law on State Budget dated June 25, 2015; Law on Environmental Protection dated November 17, 2020; Decree No 35/2021/ND-CP dated March 29th, 2021 of Government on elaboration of some Articles of the Law on PPP (Decree No 35) Decree No 28/2021/ND-CP dated March 26th, 2021 of Government guiding on financial management mechanisms of PPP projects (Decree No 28) Circular No 09 of Ministry of Planning and Investment providing guidelines for selection of investors executing PPP projects and investment projects involving land use Circular No 09 dated June 22nd, 2022 of Ministry of Transport providing guidance on bid evaluation methods and criteria for selection of investors executing PPP projects and template of build-operate-transfer contract in transport sector (Circular No 09) Circular No 22 dated August 31st, 2022 of Ministry of Transport providing guidelines on some contents of pre-feasibility study reports and feasibility study reports of investment projects in the forms of public-private partnership, buildoperate-transfer contracts in transport sector (Circular No 22) And other legal documents./ 85 APPENDIX AN EXAMPLE OF LEGAL BASIS OF A PPP PROJECT Law on Public Investment dated June 13, 2019; Law on Road Traffic dated November 13, 2008; Law on Prices dated June 20, 2012; Law on Capital dated November 21, 2012; Law on Bidding dated November 26, 2013; Law on Land dated November 29, 2013; Law on State Budget dated June 25, 2015; Law on Construction dated June 18, 2014 and the Law amending and supplementing a number of articles of the Law on Construction dated June 17, 2020; Law on Enterprises dated June 17, 2020; Law on Investment under the mode of public-private partnership dated June 18, 2020; Law on Environmental Protection dated November 17, 2020; Resolution of the 13th National Party Congress; Conclusion No 11-KL-TW dated July 13, 2021 of the 13th Party Central Committee at the Third Conference on the national socio-economic development plan, medium-term public investment the year 2021-2025; Resolution No 16/2021/QH15 dated July 27, 2021 of the National Assembly on the 5-year socio-economic development plan 2021 - 2025; Resolution No 29/2021/QH15 dated July 28, 2021 of the National Assembly on the medium-term public investment plan for the 2021-2025 period; Resolution No 06-NQ/TW dated January 24, 2022 of the Central Committee on planning, construction, management and sustainable development of urban areas in Vietnam until 2030, with a vision to 2045; 86 Resolution No 15-NQ/TW dated May 5, 2022 of the Politburo on orientations and tasks to develop Hanoi Capital until 2030, with a vision to 2045; Decision No 1454/QD-TTg dated September 1, 2021 of the Prime Minister approving the road network planning for the period of 2021 - 2030, with a vision to 2050; Decision No 1769/QD-TTg dated October 19, 2021 of the Prime Minister approving the railway network planning for the period 2021 - 2030, with a vision to 2050; Other relevant documents 87 APPENDIX AN EXAMPLE OF A BOT PROJECT FINANCIAL ANALYSIS