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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