MINISTRY OF EDUCATION MINISTRY OF AND TRAINING CONSTRUCTION HANOI ARCHITECTURAL UNIVERSITY  HOANG ANH TUAN EFFECTIVE MANAGEMENT OF INVESTMENT PROJECT IN URBAN DEVELOPMENT BY PUBLIC PRIVATE PARTNERSHIP METHOD IN VIET NAM MAJOR: CONSTRUCTION AND URBAN MANAGEMENT CODE 62.58.01.06 DOTORAL THESIS SUMMARY CONSTRUCTION AND URBAN MANAGEMENT HA NOI – 2019 THE THESIS IS COMPLETED AT HANOI ARCHITECTURAL UNIVERSITY Science instructor: Associate Professor PhD Le Anh Dung PhD Tran Van Khoi Reviewer 1: Reviewer 2: Reviewer 3: The thesis shall be defensed against the doctoral thesis evaluation council at Ha Noi Architectural University at … dated … 2019 The thesis can be found at: Library of Hanoi Architectural University National Library INTRODUCTION The necessity of the Thesis Urban development (UD) plays a very important role in the socioeconomic development of each country, the capital from the public sector not always meet the investment needs of the country thus and Public private partnership (PPP) is an effective tool to promote investment from private sector In Vietnam, the demand for capital in UD has been increasing overtime, while limited public capital is remained as the major challenge of the country Recently, Viet Nam has successfully implemented many PPP projects, however, many of those are considered as ineffective, especially in Urban Technical Infrastructure (UTI) The effectiveness of PPP projects depend on many factors, especially project management The completion of theoretical basis in line with appropriate assessment of the real situation thereto propose suitable solutions for practical use shal be an important basis for effective PPP project management (PM) in the future Therefore, the author chose the topic: "Effective management of investment projects in urban development by PPP method in Vietnam" Research purposes Clarification and improvement of existing issues on theoretical basis, apply international management experience, thereby properly assess the management status, and propose effective solutions to effectively manage PPP projects in UD in Vietnam to 2025, vision to 2030, concurently build a logical framework for management of PPP projects in UD in Vietnam Subjects and scope of research Study subjects: The thesis studies the contents related to effective management of PPP projects in UD in Viet Nam Scope of research: Regarding the content, the thesis studies the management contents of the entities under the public sector, private investors who affect the effectiveness of PPP projects in UD, with focus UTI projects Regarding space and time, the thesis studies and assesses the actual status of PPP PM in UD in Vietnam for the period of 2010 up to now; propose solutions for the period to 2025, with vision to 2030 Research Methodology General methods include: logic, statistics, analysis and synthesis, inheritance, exclusion, comparison etc Methods according to the research process: on-desk study; expert interview; survey by questionnaire The scientific and practical value of the thesis The thesis provided supplement researches to improve the methodology on management of PPP project in UD through project management stages to achieve practical benefits The thesis helps entitties, related to the PPP project management in Vietnam, to understand the nature of management contents affecting the project effectiveness The thesis helps management entities to recognize and appropriately evaluate the situation, foresee the shortcomings, limitations and causes of existence, limitations and factors affecting effective management of PPP projects in UD in Vietnam Research results of the thesis are references for managers in the policy making process, implementation of management activities; investors and consulting organizations in project proposals and management; and reference source in teaching and learning at training institutions New contributions of the thesis Nowadays, PPP is a new investment method which is dynamically being implemented in Vietnam Previous studies have mostly touched upon each individual issue of PPP PM whereas there is no clear linkage or sustaintial connection among these studies The first new point is the thesis has synthesized theoretical basis for PPP PM in UD (especially UTI) of the main entities associated with the pillar contents, the main factors affecting the effectiveness of project for the whole project life cycle with the aim to ensure that the project outcomes are practically achieved, based on the systematization of theoretical bases and PPP management experience in countries with similar conditions to Vietnam The thesis clarified the role, management contents and main factors affecting the management activities of entities in the public sector, private investors to ensure the effectiveness of the projects The second new point is the thesis idetified the core issues that need to be addressed in order to ensure that PPP projects in UD in Vietnam shall be effective base on the harmonization of on-desk study, expert interview and survey by questionnaire (the author built the survey forms which attached the contents, pillar elements, management criteria to the main entities of the management process) with the organizations and individuals related to PPP projects in UD The third new point is the thesis proposed solutions on core management contents in order to achieve the effectiveness in each management stage of the project life cycle, linked with each major management entity and the relationship between these entities (the solutions are designed to cleary clarify the contents, conditions for implementation, how to implement and the results of the solutions) The proposed solutions ensure the suitability and feasibility to be able to apply and implement for practical use The fourth new point is the thesis has developed and instructed the use of logical framework on the main contents, impact factors, criteria for evaluation of management performance, there support each entity to improve management efficiency in practice Structure of the thesis In addition to the introduction, conclusion and recommendations, references, appendices, the thesis consists of chapters: - Chapter 1: Overview on the management of urban development projects by public-private partnership method in Vietnam - Chapter 2: Scientific basis for effective management of urban development projects by public-private partnership method - Chapter 3: Analysis and evaluation on the current effectiveness management of urban development projects by public-private partnership method in Vietnam - Chapter 4: Solutions for effective management of investment projects in Vietnam urban development by public-private partnership method to 2025, vision to 2030 CHAPTER I OVERVIEW ON THE MANAGEMENT OF URBAN DEVELOPMENT PROJECTS IN THE FORM OF PUBLICPRIVATE PARTNERSHIP IN VIETNAM 1.1 Overview of the asctual context related to the thesis’s research contents 1.1.1 Vietnam udrban development status Table 1.1: Urban development status from 2015-2018 Year/Criteria 2010 Number of city 2015 2016 787 2017 802 2018 813 828 Urbanization rate 30% 35,7% 36,6% 37,5% 38,4% Urban population 25, 37.106 32,987.106 33,31 106 33,795.106 34,014.106 45.446 46.913 46.970,3 47.030,8 Urban land (km2) Sourse: Consolidated by author Viet Nam's urban system has grown rapidly in both quantity and quality (Table 1.1), resulting to unplanned urban expansion and overloading of UTI system (Table 1.4) Table 1.4: Reponsiveness of the UTI system of the country on average to 2018 UTI system Capaciry Rate 8.5.106 m3/day 890.103m3/day 6.500 ton/day Clean water supply Waste water treatment Solid waste treatment 84.5 % 12-13% 83% Source: 2018 Summary Report, Technical Infrastructure Department- MOC 1.1.2 Viet Nam’s urban development status For the period of 2009-2020, there were 3,978 planned UD projects with a total estimated investment of VND 4,470,942 billion, and an estimated investment of about US $ 16.7 billion for the period of 2020-2025 1.1.3 History and the implementation status of PPP project in urban development in Viet Nam 1.1.3.1 History of PPP investment PPP was originated from the USA during the 1950, which was then adopted globally in 1980 Viet Nam has adopted PPP since 1997 1.1.3.2 Implementation status of PPP project in urban development in Viet Nam Table 1.5: Number of PPP project in Viet Nam till January 2019 NO Field/ Sector Amount Transportation Resettlement houses and domitories Work offices Energy Water supply, drainage, environment Health, culture, sport Education, market… Total 220 32 20 18 18 11 17 336 Total Investment Cost (billion dong) 672.345 12.356 39.793 857.209 21.716 4.632 1.284 1.609.335 Source: Government report No 25/CP-CN dated 30/1/2019 1.1.4 Conclusion drawn from practical review The rapid urbanization rate leads unplanned UD, overloading of the UTI system While the demand for UD is significant, the investment from the public sector is very limited PPP has affirmed its role as an effective tool to mobilize private investment resources to participate in UD in Vietnam, however, regarding the UTI sector, the invested amount is deemed too small in comparision with other sectors; many projects have not been effectively implemented 1.2 Overview of studies related to the thesis topic 1.2.1 International studies 1.2.1.1 General studies on PPP Studies from a theoretical perspective have introduced the concept, characteristics and type of PPP (Young et al., 2009; Yescombe, 2007), advantages of PPP (ADB, 2012; ESCAP, 2011), motivation for PPP (Cristina, 2007; Fay M., 2006), from a practical perspective provided viewpoints and objectives for PPP in each country (ADB, 2008; Hong Kong Efficiency Unit, 2008; Infrastructure Australia, 2008; OECD, 2012) 1.2.1.2 Studies on investment projects in the form of PPP Studies on factors affecting PPP success and failure (Akintoye, 2003; Cutaree, 2008; Johan, 2011; Michell, 2003; Mohammed, 2012; Nikolay, 2011), risk and risk allocation in PPP, considering risk as a disadvantage (Akintoye, 2003), the concept of risk is an opportunity, (Ke, 2010c; Li, 2005b) 1.2.1.3 Studies on mangagement of PPP projects Studies on PPP PM targets (ADB, 2008; Wong, 2005), management roles of the public sector (Garvi, 2010; Hardcastle, 2005; Koch, 2001; Mohammed, 2012), management content (Ali, 2011; Charles, 2015; Maluleke, 2008; Nikolai, 2013) 1.2.2 Studies in Viet Nam 1.2.2.1 Studies on urban and urban development Studies to clarify the nature, content, principles of urban management, investment projects in UD (Bui Manh Hung, Le Anh Dung, 2018; Nguyen To Lang, 2017; Pham Trong Manh, 2013; Nguyen Hong Tien, 2012) 1.2.2.2 Studies on resources mobilization for urban development Studies on mobilization of resources for PPP investment (Nguyen Anh Duc, 2010; Ngo The Vinh, 2015) 1.2.2.3 Studies on application of international experience on PPP in Vietnam Studies of PPP experiences in several countries (Bui Hoang Lan, 2010; Hoang Manh Phuong 2011; National Assembly Economic Committee, 2013), PPP management role of the public sector (Nguyen Dang Truong, 2014) 1.2.2.4 Studies on investment projects in the form of PPP Research on risk identification and risk allocation for PPP (Than Thanh Son, 2015), success and failure factors of PPP (Nguyen Duc Canh, 2017; Dinh Kien, 2010; Nguyen Hong Thai, 2008) 1.2.2.5 Studies on management and management of investment projects in the form of PPP Studies on project management contents, principles for determination of project effectiveness (Mai Van Bai, 2008; Bui Manh Hung, 2017; Nguyen Van Phuc, 2008; Tu Quang Phuong, 2013; Ta Van Khoai, 2009), state management of PPP (Nguyen Thi Hong Minh, 2016) 1.2.3 Conclusion drawn from the research review The overal studies related to the topic provided an overview of PPP, PPP Investment Projects and PPP PM The studies have mostly touched upon each individual issue of PPP PM whereas there is no clear linkage or connection between management entities with the pillar contents, main factors affect the project effectiveness during the project life cycle, especially the PPP projects in UD Thus, this is the content required further study in the thesis regarding PPP PM in UD to ensure the practical effectiveness of the project CHAPTER II SCIENTIFIC BASIS FOR EFFECTIVE MANAGEMENT OF URBAN DEVELOPMENT PROJECT by PUBLIC-PRIVATE PARTNERSHIP METHOD 2.1 Urban development and investment in urban development Urban development From the most common understanding of urban, the concept of "UD” might be interpreted as a comprehensive development of urban economy, culture, social, space as well as living environment, UD including material and non-material development Investment in urban development 2.1.2.1 Concept of investment in urban development Based on the concepts of investment in UD from different perspectives, under the scope of this thesis, investment in UD is percieved as the process of utilizing resources for current UD activities to create products and intellectual property in the form of facilities in UD areas to achieve UD objectives Resources here are perceived as capital, land, labor, equipment and natural resources 2.1.2.2 Principle of investment in urban development Investment UD should ensure the following key principles: consistent with urban planning; synchronization of UTI, social infrastructure; efficient use of resources; create a good living environment for the people and benefits for the public sector; sustainable development 2.2 Urban development projects by PPP method Concept of urban development projects by PPP method Systematization of the relevant concepts on investments in UD, invesment projects and PPPs thereby introduce in the thesis concept of invesment project in UD by PPP method which is a form of equal/fair cooperation between the public sector and the private sector through clear contract’s binding responsibilities, benefits and risk sharing between the two 11 harmonization of obligations and benefits between the parties; ensure the value of money for the goverment; apply project output oriented method; ensure public and transparency Criteria for evaluation of the effectiveness of management activities to ensure the effectiveness of investment projects in urban development by PPP method The study results related to management have provided the criteria for evaluation of management activities per management entitiess in different fields/sectors, for PPP PM in UD to ensure project effectiveness; the thesis used criteria including: effectiveness criteria; efficiency criteria; suitability criteria; sustainability criteria The contents of effective management of investment projects in urban development by PPP method Management content can be determined based on general management functions of each entity or field/sector Based on this approach, the main management contents affecting the effectiveness of PPP projects in UD include: policies and laws; project development strategies and plans; management structure; project monitoring and evaluation; project selection, project listing; project formulation and appraisal; investor selection; project contract; risk management; quality, schedule, and cost management; operation management 2.4 Legal basis for effective management of investment projects in urban development by PPP method in Vietnam Effective management of PPP projects in UD in Vietnam is governed by many different Laws, including legal policies on UD and other laws that directly or indirectly governed PPP investment activities 2.5 Factors affecting effective management of investment projects in UD by PPP method Group of objective factors Summary of studies’ results has provided objective factors 12 Group of subjective factors Summary of studies’ results has 74 subjective factors affecting the success and failure of PPP projects in UD 2.6 International experience on effective management of investment projects in urban development by PPP method International experiences The thesis studied experiences of countries include: England, Australia, Korea, Philippines Lessons learned for Vietnam For successful implementation of PPP project, attention should be paid to the following factors: project development strategy and planning; project selection; suitability of project outcomes; policies and laws; risk sharing mechanism; government support for projects; organization of management structure 13 CHAPTER ANALYSIS AND EVALUATION ON THE CURRENT EFFECTIVENESS MANAGEMENT OF URBAN DEVELOPMENT PROJECTS BY PUBLIC PARTNERSHIP METHOD IN VIETNAM Base on the scientific contents related to the previous completed topics, the author implemented the research process by the following steps: on desk research to provide assumptions on the status of effective project management in each project stage, thereby conduct expert interviews, compare with certain specific projects and conduct survey by questionnaires to re-examine the assumptions provided The thesis interviewed 30 experts with PPP experience and collected 116 valid survey forms from organizations and enterprises participating in PPP projects in UD The questions in the questionnaire are designed in the form of closed questions, with a scale of levels (disagree, disagree, neutral, agree, agree), which were tested and build base on the assumptions drawn from the synthesis and analysis of documents, reports, thereby discussed with experts and compared with actual practice for improvement Actual analysis results include the following main contents: 3.1 Analyze the status on effective management of investment projects in urban development by PPP method in Vietnam from 2010 to present Develop strategies, planning and development of PPP projects in urban development Analysis of the situation showed that the development direction for PPP projects in UD is consistent with the direction of UD however the quality of planning is inadequate, lack of criteria on appropriate directions for mobilizing resources Regarding development of mechanisms, policies and laws on management of investment projects in urban development by PPP method Apart from the direct regulations governed PPP (currently the Decree No 63/2018/ND-CP) PPP projects in UD are also subjected to the overlapping governed of provisions under the relevant Laws Specific provisions are deemed to be inadequate 14 Regarding the organization of management structure for investment projects in urban development by PPP method The functions and tasks of the state management structure on PPP are unclear; there is overlap between the state management responsibility, sector/field management responsibility, and responsibility as one party of the project contract The management level of PPP project is currently lacking of professional Regarding urban development project investment and implementation supervision by PPP method Analysis of the situation showed that the legal regulations on supervision responsibilities are inadequate, lack of coordination; sanctions are not strictly enforced, and not specificially regulated to each agency The law allowed Project Company to perform self management and supervision which was in accordance to international practice however it created many gaps in the monitoring process thereto unable to guarantee the project quality Regarding project selection and Listing of investment projects in urban development by PPP method Most ministries, branches and localities not develop List of projects; or have a list of projects but only for formality purpose, lack of thorough researches; or have a List of PPP projects but lacking of principles and priority order for implementation Regarding the formulation, appraisal and approval of feasibility study reports of investment projects in urban development by PPP method Feasibility study report (FS) of PPP projects in UD is developed in pursuant to constrution law and regulations which is not always suitable with the specific characteristics of PPP; low quality of financial analysis with inappropriate funding structure The appraisal process of some projects is still inaccurate, selected technologies that are not suitable with Vietnamese conditions Regarding the selection of investors for investment projects in urban development by PPP method Review on the implementation of PPP projects showed that most PPP projects in UD are direct contracting with investors, several projects 15 implemented procurement but only for formality purpose with lack of publicity and transparency Regarding contract management of investment projects in urban development by PPP method In general, the contents of contracts have not been sufficiently and specifically defined, especially PPP projects in UD are highly unique; nonetheless so far there is no guidance or standard form of contracts for these particular projects The contractual issues are mainly about financial mechanism, technology requirements, payment schedule and service price etc Regarding the risk management of investment projects in urban development by PPP method The current legal system of Vietnam has no regulations on risk transfer, in fact many risk factors are improperly allocated The key risk factors of PPP projects in UD in Vietnam include: changes in the legal framework; delayed site clearance; investor selection; project service price and fee etc Regarding quality, progress, costs, safety and environmental sanitation management during the implementation process of investment projects in urban development by PPP method The current project management model is specifically regulated in terms of roles and responsibilities; lack of detail regulations in each phase of the project; coordination between state agencies is still inadequately stipulated Quality and cost management in many projects had many violations and had not complied with regulations Regarding the operation of facilities under investment projects in urban development by PPP method The management on collection of the public urban's service fee has not ensured objectivity and transparency Expert emphasized that the application of PPP shall not, by any means, mitigate the role and responsibility of the state authorities 16 3.2 Current state assessment on effective management of Investment Project in Vietnam Urban Development by PPP method from 2010 till now Current state assessment of management activities to ensure the effectiveness of PPP investment projects in urban development in Vietnam base on management criteria 3.2.1.1 Validity criteria Evaluation results based on these criteria are only at upper average level for the state and lower average level for private investors Statistics showed that the investment capital mobilized for PPP has increased steadily on yearly basis (Figure 3.17), except for the case of UTI which is deemed to be limited Among PPP projects that are currently operating, the profits gained from the project are not always satisfied by investors Chart 3.12: Capital utilization for PPP Source: Consolidated by author 3.2.1.2 Evaluation of management activities to ensure the effectiveness of investment projects in urban development by PPP method base on efficiency criteria These criteria are highly evaluated for the public sector but only at average level for private investors In fact, PPP projects in UD have had a positive impact on stimulating economic growth, improving the lives of urban people, stimulating demand for urban construction, creating investment opportunities and income for private investors 17 3.2.1.3 Evaluation of management activities to ensure the effectiveness of investment projects in urban development by PPP method base on appropriate criteria The evaluation result of these criteria is at average level for both public and private investors Analysis from the reports showed that there are too many overlapping of laws and unclear regulations The structure of state management showed overlapping of functions and mandates The process of quality management, cost schedule and project management etc is still weak 3.2.1.4 Evaluation of management activities to ensure the effectiveness of investment projects in urban development by PPP method base on sustainability criteria Assessment on sustainability criteria through the balance in the distribution of benefits and risks The evaluation results of these criteria are very low Current state analysis showed that the government achieved the public investment targets, ensures the value of money, and the investors, while expanded the investment market and increased jobs, had received uncommensurate profit Current state assessment of the factors affecting the effective management of investment project in Vietnam urban development by PPP method Chart 3.13: Influence level of the impact factor Source: Survey and consolidated by author 18 Assessment of success, limitations and causes of limitations regarding effective management of investment projects in Vietnam urban development by PPP method 3.2.3.1 Success Through PPP, the government has attracted private investment capital to participate in UD, contributing to create motivation for socio-economic development The State management system on PPP has been established with relatively adequate management tools and in line with international practices; investors have practical experience in project management 3.2.3.2 Limitation The quality of state management, administration of investors, project companies in order to ensure the effectiveness of PPP projects in UD had not meet the requirements due to the following limitations: there is no longterm development direction and strategy; the legal framework on PPP is overlapping with different laws, and detail regulations are still limited; the state management organizational structure are not clearly defined, with insufficient professionalism; it is lacking of planning, principles and priority order during the project selection process; the quality of project formulation, appraisal and approval process is insufficient; identification and allocation of risks that is in inappropriate and had not been prescribed in the legal system; the selection of investor is still limited; the project contract still lacks of specific instructions/guidances; project quality, construction schedule and cost management still contained many violations; project monitoring responsibilities are unclear; lack of transparency in project operation; lack of tools for project implementation, monitoring and scientific evaluation The objective cause of these limitations is that there is lack of implementation experience in Vietnam UD The major subjective reason is that PPP project management in UD in Vietnam had not clarified the main management contents associated with each management entity throughout the project implementation process 19 CHAPTER SOLUTIONS FOR EFFECTIVE MANAGEMENT OF INVESMENT PROJECTS IN VIETNAM URBAN DEVELIOMENT BY PUBLIC-PRIVATE PARTNERSHIP METHOD TO 2025, VISION TO 2030 4.1 Perspective for improvement of the management effectiveness for investment projects in Vietnam urban development investment by PPP method Based on the directions, policies, related scientific studies and practical conditions of Vietnam, the thesis provided six perspectives for improvement of the effective management contents of PPP project in UD 4.2 Solutions for effective management of PPP projects in Vietnam urban development The proposed solutions in the thesis are general and unified between state management activities, project management activities associated with PPP characteristics, project unique characteristics and practical conditions in Vietnam Project effective management activities must be implemented for the entire project life cycle The thesis proposes the following groups of solutions: Group of solutions for effective management of investment projects in urban development by PPP method base on management contents 4.2.1.1 Improve the quality of formulating strategies and master plans for development of investment projects in urban development by PPP method 4.2.1.2 Imrpove mechanisms, policies and laws on the management of invesment projects in urban development by PPP method 4.2.1.3 Renovate the organizational model, enhance the capacity of management oppicials in invesment projects in urban development by PPP method 4.2.1.4 Improve the quality of fomulation, appraisal and approval of proposals for invesment projects in urban development by PPP method 4.2.1.5 Improve the quality of investor selection for invesment projects in urban development by PPP method 20 4.2.1.6 Improve the quality of risk management of invesment projects in urban development by PPP method 4.2.1.7 Improve the management efficiency of process, costs, quality, safety and environment of invesment projects in urban development by PPP method 4.2.1.8 Improve the content of the contract and the quality of contract management for invesment projects in urban development by PPP method 4.2.1.9 Improve the efficiency of management and operation of project public services 4.2.1.10 Ensure harmonization between mobilization and management of capital sources for investment projects in urban development in the PPP form Each solution on the effective management content of PPP projects in urban development is associated with both management function of each entity and management function of different entities The solutions from 4.2.1.1 to 4.2.1.3 are related to the state management functions of agencies under the National Assembly, the Government, ministries and ministerial-level agencies, People's Committees at all levels, which affect all stages of the project life cycle and determin the project implementation activities of competent state authorities, investors, project companies to ensure the success and effectiveness of the project The proper implementation of this group of solutions is the essential foundation for the competent authorities in charge of project development plan thereto select quality PPP projects in UD that are consistent with the sector and local planning; eliminate the overlapping between laws and inappropriate provisions to implement PPP projects in urban development to achieve the expected objectives; eliminate the lack of clarity on the functions of the state authorities in PPP projects, improve the effectiveness of the goverment and investors supervision works The solutions from 4.2.1.3 to 4.2.1.10 are associated with the management entities under state authorities, private investors and project companies 21 Proper implementation of this group of solutions will improve the quality of project proposals, improve project feasibility; ensure the selection of a capable private investor; minimize the risk and its associated damage; improve the quality, progress, costs, environment and safety of project facilities; increase the validity of project contracts; ensure efficiency in operation of project facilities; ensure balance between mobilization and management of investment resources Group of solutions for effective management of investment projects in urban development by PPP method base on management criteria 4.2.2.1 Control the content to ensure the validity criteria 4.2.2.2 Control the content to ensure effective criteria 4.2.2.3 Control the content to ensure appropriate criteria 4.2.2.4 Control the content to ensure sustainability criteria This group of solutions affects all management activities of all entities in the public sector, private sector in the whole project life cycle Proper implementation of this group of solutions ensure the project implementation shall follow the right directions and policies, increase the private sector's investment capital in UD; increase the return on investment of the project, improve the socio-economic efficiency for the locality; improve the appropriateness in the orientation, policies, laws and the rationality of the state management structure for PPP projects in UD and the conformity of the investors' development and investment direction Balance the distribution of benefits and risks between the goverment and private investors Solution to build a logical framework for effective management of investment projects in urban development by PPP method This solution provides a system of management tools to support policymakers in clearly identifing the project inputs, outputs, results, impacts and potential risks, provide the management entities with tools to monitor and evaluate the project performance throughout the implementation process; and this is a essential tool for project evaluation 22 4.3 Discussion on the research topic of the thesis Should the three groups of solutions proposed by the thesis, with high scientific and practical basis, are properly implemented then it shall bring valuable contribution to actual practices Each solution aims to achieve its own goals and objectives, though the optimal goal of these solutions is to achieve the effective management of PPP projects in urban development 4.3.1 Group of solutions for effective management of investment projects in urban development by PPP method base on management contents These solutions are meant to help management entities in the public sector, private investors, project companies to comprehensively understand about the core issues that need to be resolved to achieve the project goals, however it is importnatn to clearly define the ker role of the government in harmonizing the various objectives of the stakeholders 4.3.2 Group of solutions for effective management of invesment projects in urban development by PPP method base on management efficiency criteria This group of solutions is meant to assist management entities to better understand the criteria for evaluation of management activities and the underlying for improvement of management effectiveness thereto affect the effectiveness level of the project 4.3.3 Solution to build a logical framework for effective management of invesment projects in urban development by PPP method This solution support the management entities to understand the essential contents related to their management activities, the factors affecting the success of the project in order to save time and focus on the most important content to progress and solve each core problem in a most logical manner 23 CONCLUSION AND RECOMMENDATION Conclusion Base on the initial goals, the thesis has focused on research and achieved the following results: - Systematize and improve the theoretical basis for effective management of investment projects in UD by PPP method Whereas, the thesis has clearly specified the objectives, contents, evaluation criteria and factors affecting the effective management of PPP projects in UD for the whole project life cycle - Studying experiences in countries with similar conditions to Vietnam, whereby to draw lessons on effective management of PPP projects in UD in Vietnam - Appropriatly assess the status quo and the main factors affecting the management process, identify the shortcomings, limitations and causes of the limitations in the management process of investment projects in UD by PPP method in Vietnam with regard to the two main groups of entities which are public and private sectors - Proposed key groups of solutions for effective management of investment projects in UD by PPP method in Vietnam in the coming future; especially the thesis has developed and provided guidance on the use of a logical framework of the core contents for the whole process of project preparation, implementation, handover and operation of investment projects in UD by PPP method in Vietnam Thus, the thesis has achieved the purpose of research for improvement and clarification of issues on theoretical basis and basic theoretical framework, appropriate assessment of the current management context, propose an effective solution system to effectively manage investment projects in UD by PPP method in Vietnam until 2025, vision to 2030; at the same time build a logical framework on the core issues related to the management of investment projects in UD by PPP method in 24 Vietnam, particularly for each entity require proper attention during the actual management process Recommendation The government is responsible for resolving conflicts of interests between stakeholders in order to harmonize the interests between parties, ensure the general purpose of the project The government is responsible for the management of the PPP project development Private investors apply the main contents proposed in the logical framework in the thesis to manage the project proposal and implementation process to ensure project goals and effectiveness Proposal for further study PPPs are directly related to many entities and the relationship between entities is a unified relationship however there are always conflicts of interests The further study on PPP project management activities is very diverse, associated with each target and different PPP investors that shall require appropriate study content and approach LIST OF PUBLISHED SCIENTIFIC WORKS I LIST OF ARTICLES Hoang Anh Tuan (2016), Research on the economic efficiency of public-private investment projects in construction of urban public works, Construction Magazine, 8-2016, page 152- 154 Hoang Anh Tuan (2016), Several key factors affecting the economic efficiency of investment projects in urban public works by public-private partnership method (PPP), Construction and Urban Magazines Town, No 49, 2016, pp 41-44 Le Anh Dung and Hoang Anh Tuan (2018), Several issues on effective management of urban development investment projects by public-private partnership method, Construction Magazine, 32018, p 20- 22 Hoang Anh Tuan (2019), Several effective management solutions for investment projects in urban development by PPP method based on management criteria, Construction Magazine, 5-2019 p 16-19 Hoang Anh Tuan (2019), Several effective management solutions for the management of investment projects in urban development by PPP method, Construction Magazine, 6-2019, pp 38-41 II SCIENTIFIC WORKS Tran Van Khoi and Hoang Anh Tuan (2017), "Several issues on mobilization of resources for urban development investment", Hanoi Urban Planning Workshop, development planning architecture orientation North Red River Delta, Hanoi, December 2017, 65-68 Hoang Anh Tuan, Le Anh Dung, Nguyen Thi Thanh Thao (2018), “Effective management of urban development investment project by public - private partnership method in Viet Nam”, Internettional Conference Proceedings, Green-Smart city development and public – private partnership”, Hanoi, 19 June, 2018, tr 136-141 Tran Van Khoi, Hoang Anh Tuan (2018), “Resolution of conflicts betwwen utilization and management of project by bublic private partnership method (PPP), Internettional Conference Proceedings, Green-Smart city development and public – private partnership”, Hanoi, 19 June, 2018, tr 144-145 ... Từ chất PPP, thấy đầu tư PTĐT Việt Nam, PPP có vai trị chủ yếu gồm: bổ sung nguồn lực cho khu vực công; quản lý rủi ro hiệu quả; nâng cao hiệu đầu tư công, chất lượng dịch vụ công Base on the... 2.3 Theoretical basis for effective management of investment projects in urban development by PPP method General effective management concept Logic hóa khái niệm hiệu quản lý, hiểu quản lý hiệu. .. 65-68 Hoang Anh Tuan, Le Anh Dung, Nguyen Thi Thanh Thao (2018), “Effective management of urban development investment project by public - private partnership method in Viet Nam? ??, Internettional