needing billions of dollars to upgrade its infrastructure, told foreign
businessmen on Tuesday it would need private capital as well as aid to do the
The vehicle for such investment - especially for costly projects
like power plants - could be build-operate-transfer (BOT) contracts in which a
foreign company installs a plant, runs it for a while and then turns it over to
the host country, government ministers said.
Vietnam issued a decree last
November adding BOT contracts to the forms of foreign investment permitted and
setting out regulations.
Minister presented a list of 12 priority
projects - without price tags - they said would be suitable foe BOT investment
at a seminar in Hanoi attended by about 100 foreign companies.
included four power stations, four highway bridges, a six-lane highway and three
water or waste-disposal projects.
Vietnam's chief investment watchdog,
Dau Ngoc Xuan, said $926 million had been invested so far in 17 infrastructure
But this was modest compared with anticipated needs of $5 to $6
billion for transportation and $3 to $4 billion for power generation between now
Xuan, a cabinet minister and head of the State Committee for
Cooperation and Investment (SCCI), said investment under BOT contracts would be
an important source of foreign capital.-Reuters