Critical Success Factors of Public–Private Partnership Infrastructure Projects from a Middle-Income Country: A Comparison with Countries in Asia
Publication: Journal of Urban Planning and Development
Volume 150, Issue 3
Abstract
The public–private partnership (PPP) environment in Asia is complex due to the different levels of development. Thus, investigating critical success factors (CSFs) of PPP projects plays an important role for both the public and private sectors to ensure sustainable development. The purpose of this study is: (1) to seek and evaluate CSFs of PPP infrastructure projects in Vietnam; and (2) to compare top CSFs among several countries in Asia. Data were collected through a questionnaire survey with 36 obtained responses. Collected data were analyzed using the mean score technique, factor analysis, and fuzzy synthetic evaluation (FSE) method. Finally, a comparison among countries in Asia was carried out. Seventeen CSFs were identified and five main groupings were grouped, including favorable investment environment, good partnership management, sound financial package, effective contract management, and ability of the private sector. The comparative result has shown that PPP investment in middle-income countries is more complicated than the high-income countries. This finding not only helps the government and investors to be more understanding of CSFs for implementing PPP procurement in Vietnam, but also offers the overall picture of the PPP market in the Asia region. In addition, it provides practitioners with an evaluation framework regarding CSFs in decision-making for PPP implementation.
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Data Availability Statement
Some or all data, models, or code used during the study were provided by a third party. Direct requests for these materials may be made to the provider as indicated in the Acknowledgments.
Acknowledgments
The authors of 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 completing the survey questionnaires in this research.
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Published In
Journal of Urban Planning and Development
Volume 150 • Issue 3 • September 2024
Copyright
© 2024 American Society of Civil Engineers.
History
Received: Feb 8, 2023
Accepted: Mar 21, 2024
Published online: May 30, 2024
Published in print: Sep 1, 2024
Discussion open until: Oct 30, 2024
ASCE Technical Topics:
- Business management
- Comparative studies
- Construction engineering
- Construction industry
- Construction management
- Developing countries
- Engineering fundamentals
- Financial management
- Infrastructure
- Methodology (by type)
- Practice and Profession
- Private sector
- Project management
- Public private partnership
- Research methods (by type)
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