ANT Lawyers Participating in GMS Rail Expansion Summit in Hanoi

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.