Evaluating the Impact Index of Key Barriers to Public-Private Partnership Transportation Projects in Vietnam: Comparison between Selected Asian Countries
Publication: Journal of Urban Planning and Development
Volume 147, Issue 2
Abstract
In the Asian region, the financial burden for the development of transportation infrastructure is always a huge challenge for the government. Therefore, private investment was encouraged to attend the public-private partnership form. This study aims to evaluate the impact level of key barriers to Public-Private Partnership (PPP) transportation projects based on the perceptions of respondents in Vietnam. Twenty-nine key barriers were selected and classified into six barrier groups, namely social and political barrier (b1), legal barrier (b2), financial market (b3), procurement process (b4), implementation risk (b5), and management (b6). The fuzzy synthetic evaluation model was then used to assess the impact of key barriers on the success of PPP transportation projects. The result showed that project management and social and political barriers are the two most important barrier groups influencing PPP projects. Along with this, the overall index is between medium and high with a value of 3.51. Notwithstanding, investment in PPP transportation projects in Vietnam still contains risk. A comparison between Vietnam and selected Asian countries was conducted to provide a better understanding of obstacles to PPP projects in the Asia area. It helps investors make good decisions to avoid risky projects and prompts governments to reduce constraints in PPP projects in order to attract private investment.
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Acknowledgments
This study would like to thank the practitioners of the Ministry of Construction, Ministry of Transport, Ministry of Planning and Investment, Board of Project Management Cuu Long, Board of Project Management No. 7, private developers, and consultant companies who have contributed their opinions in accomplishing the survey questionnaires in this research.
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Journal of Urban Planning and Development
Volume 147 • Issue 2 • June 2021
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© 2021 American Society of Civil Engineers.
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Received: Mar 17, 2020
Accepted: Nov 16, 2020
Published online: Mar 3, 2021
Published in print: Jun 1, 2021
Discussion open until: Aug 3, 2021
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