Domestic and international organizations in Vietnam are now allowed to provide public services under government contract.
Twenty-three services, including vocational training, state-mandated publishing, as well as sports and culture festivals, were included under the new provision. All such services fall under the aegis of the state’s responsibility to its people, using state-budgeted funds.
Contractors for public service projects must meet three conditions. The monetary value of the public service must meet or exceed VND500 million (US$31,000), the contractor must have relevant business certificates and proof of legal status, and also must provide a monetary guarantee of healthy finances.
Vietnam has exceeded China to become the most attractive destination for investment in production while the United Arab Emirates surpasses India to become an ideal place for investment in services, according new survey of emerging markets by Price Waterhouse Coopers.
According to The Sunday Times, the index assesses 20 prominent emerging-market locations on the basis of “reward” factors, including production costs, size of market, taxes, transport costs and tariffs, and “risk” factors, largely defined by bond-market risk premiums.