On March 28, 2025, the Government promulgated Decree No. 71/2025/ND-CP (“Decree 71”) amending and supplementing a number of provisions of Decree No. 35/2021/ND-CP dated March 29, 2021 (“Decree 35”) providing detailed regulations and guidance on the implementation of the Law on Investment in the form of Public–Private Partnership with many provisions facilitating enterprises, such as shortening the time for appraisal of feasibility study reports… (Clients may refer to the article here).
On September 11, 2025, the Government continued to promulgate Decree No. 243/2025/ND-CP replacing Decree 71, providing detailed regulations on a number of provisions of the Law on Investment in the form of Public–Private Partnership (“Decree 243”). Inheriting the spirit of Decree 71, Decree 243 continues to further facilitate the implementation of PPP projects.
1. Further shortening the time for appraisal and approval procedures of PPP projects
PPP projects continue to be subject to reduced time limits for implementing procedures as follows:
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Type of work |
Type of project |
Implementation time |
|
|
Decree 71/Decree 35 |
Decree 243 |
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Appraisal of pre-feasibility study report |
Projects under the authority of the Prime Minister to decide investment policy |
Not more than 30 days |
Not more than 14 days |
|
Projects under the authority of Ministers, heads of central agencies, other agencies, provincial People’s Councils, provincial People’s Committees |
Not more than 14 days |
Not more than 10 days |
|
|
Projects requiring expedited progress |
No provision |
The State Appraisal Council or the project appraisal unit shall decide the appropriate appraisal time |
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|
Appraisal of feasibility study report |
Projects with an approved investment policy |
Divided by approving authority, specifically: (a) Projects under the authority of the Prime Minister: not more than 30 days; (b) Projects under the authority of Ministers, heads of central agencies, other agencies, Chairpersons of provincial People’s Committees: not more than 14 days; (c) Other projects: not more than 10 days
|
Not more than 10 days |
|
Projects not subject to investment policy decision |
Not more than 15 days |
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Projects in the public investment plan considered for conversion into PPP projects |
Not more than 20 days |
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Projects requiring expedited progress |
The project appraisal unit shall decide the appropriate appraisal time |
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Time for approval of PPP projects |
Projects with an approved investment policy |
Not more than 20 days |
Not more than 03 working days |
|
Projects not subject to investment policy decision |
Not more than 15 days |
Not more than 05 working days |
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2. Additional incentives for projects and investors that are science and technology enterprises, innovative enterprises
Decree 71 provided the following incentives: Investors with approved project proposals who are science and technology enterprises, innovative start-up enterprises; innovation centers, organizations supporting innovative start-ups in accordance with the laws on science, technology and innovation; high-tech incubators, high-tech enterprise incubators, high-tech enterprises, and enterprises newly established from investment projects producing high-tech products in accordance with the Law on High Technology shall be entitled to a 5% preferential score in the evaluation of bid dossiers.
However, investors proposing projects in the fields of science, technology, innovation, and digital transformation must provide contract performance security. The value of such contract performance security is stipulated in the bidding dossier as follows:
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1.5% of the total investment for projects with a total investment of up to VND 300 billion; or
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1% of the total investment for projects with a total investment of more than VND 300 billion.
Decree 243 takes effect from the date of its promulgation.
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