The World Bank Is Asking Duane Morris About Benchmarking Infrastructure Public-Private Partnerships – What You Must Know
The Private Partner (the Project Company) is a Special Purpose Vehicle (SPV) established by a consortium of privately owned firms, which operate in Vietnam.
· The procuring authority is a national/federal authority in Vietnam that is planning to procure the design, build, finance (full or partial), operation and maintenance of a national/federal infrastructure project in the transportation sector (i.e. national highway) with an estimated investment value of USD 150 million (or the equivalent in your local currency) funded with availability payments and/or user fees.·To this end, the procuring authority initiates a public call for tenders/ invitation for bids/ request for proposal/ request for qualification, following a competitive PPP procurement procedure.
· "Public-Private Partnership (PPP)" refers to any contractual arrangement between a public entity or authority and a private entity, for providing a public asset or service, in which the private party bears significant risk and management responsibility. For the purpose of this survey, this definition applies irrespective of the terminology used in the particular country or jurisdiction and applies both to government-pays or user-pays PPP.
· The "regulatory framework" encompasses all laws, regulations, policies, binding guidelines or instructions, standard PPP contracts, other legal texts of general application, judicial decisions and administrative rulings governing or setting precedent in connection with PPPs. In this context, the term "policies" refers to other government-issued documents that are binding to all stakeholders, enforced in similar ways to laws and regulations, and provide detailed instructions for the implementation of PPPs. It should not be confused with Policy in the sense of a government's statement of intent to use PPPs as a course of action to deliver public services.
The "regulatory framework" includes but is not limited to those laws, regulations, policies, etc. dealing with PPPs (i.e. procurement of PPPs may be governed by the general procurement framework; planning and budgeting issues may be regulated instead by broader public finance related laws and regulations).
· The "Procuring Authority" is the Ministry, Department or Agency responsible for ensuring that the relevant assets and/or services are provided by the private partner after successful completion of procurement/ bidding process. It is the authority in charge of the PPP (i.e. identifying, preparing, procuring, awarding and managing the PPP contract).