Evaluating the Impact Index of Key Barriers to Public-Private Partnership Transportation Projects in Vietnam: Comparison between Selected Asian Countries

Abstract

In the Asian region, the financial burden for the development of transportation infrastructure is always a huge challenge for the government. Therefore, private investment was encouraged to attend the public-private partnership form. This study aims to evaluate the impact level of key barriers to Public-Private Partnership (PPP) transportation projects based on the perceptions of respondents in Vietnam. Twenty-nine key barriers were selected and classified into six barrier groups, namely social and political barrier (b1), legal barrier (b2), financial market (b3), procurement process (b4), implementation risk (b5), and management (b6). The fuzzy synthetic evaluation model was then used to assess the impact of key barriers on the success of PPP transportation projects. The result showed that project management and social and political barriers are the two most important barrier groups influencing PPP projects. Along with this, the overall index is between medium and high with a value of 3.51. Notwithstanding, investment in PPP transportation projects in Vietnam still contains risk. A comparison between Vietnam and selected Asian countries was conducted to provide a better understanding of obstacles to PPP projects in the Asia area. It helps investors make good decisions to avoid risky projects and prompts governments to reduce constraints in PPP projects in order to attract private investment.