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Sunday, April 18, 2021

NA deputies debate auditing of PPP projects

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HCMC – At the ongoing ninth sitting of the 14th National Assembly (NA) on May 28, a discussion on the auditing of public-private partnership (PPP) projects took center stage.

At the session to discuss the draft law on investments under the PPP model, some members were of the opinion that the State Audit only checks the public assets and public finances of PPP projects, while capital from private investments is not audited, according to Vu Hong Thanh, head of NA’s Economic Committee.

Others pointed out that the nature of the PPP model is public investment, so the State Audit should audit the entire PPP project, including the sources of investment from the private sector.

Still others proposed considering the time and period for auditing plans to avoid difficulties in the operation of PPP projects, reported the Vietnam News Agency.

The NA Standing Committee noted that the legal policies of the PPP model must ensure the quality of public services and attract investments from private units.

NA Deputy from Ninh Binh Province Bui Van Phuong pointed out that the Government invites investors for PPP projects and, as such, must reimburse them for the value of the construction work or fee collection rights.

As the nature of the PPP model is public investment, auditing these projects should be adopted in line with regulations, the deputy stated.

Nguyen Ngoc Phuong, an NA deputy from Quang Binh Province, remarked that PPP projects have not been audited though they are considered public assets, stressing that it is necessary to audit these projects and check for efficiency in their operations.

Meanwhile, Do Van Sinh, an NA deputy from Quang Tri Province, said PPP projects are not public investment, financed by capital from the State and private investors. They become public assets only once the PPP projects are handed over to the State. As a result, auditing the entire PPP project is unreasonable as, in the case of some projects, investors only ask the State for support during the handing over of land.

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