Railway
infrastructure project will be a huge opportunity for Vietnam to connect with
neighboring countries, promote trade growth. Huge financial sources will be
needed. For government’s perspective, support from private sector will be
encouraged through policy, and laws on Public Private Partnership which will be
drafted to replace Decree 15/2015/ND-CP promulgated since 2015. From private
sector’s perspectives, investment into infrastructure will be opportunities,
for investor, bank, EPC main contractor, sub-contractor, consultants to
participate.
On Nov. 30 – Dec. 1, 2017, in Hanoi,
Vietnam, GMS Rail Expansion Summit http://gmsrail.org has been held.
The countries of the Greater Mekong Subregion (GMS) – Cambodia, the People’s
Republic of China (PRC), the Lao People’s Democratic Republic (Lao PDR),
Myanmar, Thailand, and Vietnam – have expressed their desire, through the GMS
Economic Cooperation Program, for better transport connectivity to improve the
environment for trade.
The railways in the GMS
countries have developed independently over the course of a century and are
today, with the exception of a connection between the PRC and Vietnam, a
collection of national railway networks that do not interconnect. Each national
railway has developed into a unique system with its own standards and
procedures. In view of escalating subregional trade, growing concerns over
climate change and, more recently, sharply fluctuating fuel costs, the GMS
countries have accelerated their plans for upgrading their national railway
networks and for interconnecting these by constructing new railway connections.
It appears that, during the
different phases of development of rail infrastructure projects, it is
important to identify potential areas for issues to be arisen and therefore put
in place a mechanism to minimize risks. The risks will need to be allocated to
entity which is best positioned to manage such risks, which has to be shown in
the form of contracts, agreement, to clearly determine roles of parties.
Mr. Tuan Nguyen and Mr. Thomas Giglione of ANT Lawyers, a law firm in
Vietnam acted as chairmen of the conference and shared to the
audience being government officials, investors, EPC contractors, consultants
about potential risks arisen during different phases of executing rail
infrastructure project and offer solutions to manage such.It has been
highlighted for stakeholders to consider designing a dispute resolution system
that resolve potential disputes in relation to the multi billion-dollar
project.
How ANT Lawyers Could Help Your Business?
Please click here to
learn more about ANT Lawyers Infrastructure or contact our Infrastructure
lawyers in Vietnam for advice via email ant@antlawyers.vnor
call our office at (+84) 24 32 23 27 71
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