Investigation of Social Risk Factors of PPP Infrastructure Projects in Vietnam using Grey AHP

Abstract

The role of infrastructure project investors in socio-economic development in general and in promoting successful implementation of the principle of human-centered development is increasingly being appreciated. In particular, the public-private partnership (PPP) model with the participation of private enterprises is considered one of the most effective ways to combine sustainable development goals. However, some problems arising from these PPP infrastructure projects have harmed society because many risk factors were not identified during the project implementation. Therefore, this paper explores eighteen social risk factors affecting the performance of PPP infrastructure projects in Vietnam with the goal of sustainable development in terms of economy, environment, and society. Assessing the priority of these social risk factors by using the grey analytical hierarchy process (Grey-AHP), the research results showed that the top five social risk factors affecting the performance of PPP infrastructure projects in Vietnam included (i) slow economic growth rate; (ii) air pollution; (iii) complicated project investment process; (iv) pollution of groundwater and surface water; and (v) the existing system of the PPP legal framework is cumbersome and unclear.