The Critical Factors Contributing to Private Sector’s Behavioral Intention: A Case Study of Vietnam Construction Public-Private Partnership Projects
Received: 9 May 2025 | Revised: 5 July 2025 and 15 July 2025 | Accepted: 19 July 2025 | Online: 6 October 2025
Corresponding author: Vuong Thi Thuy Duong
Abstract
This study investigates the key factors influencing the private sector’s intention to participate in Public-Private Partnership (PPP) infrastructure projects in Vietnam. Grounded in the Theory of Planned Behavior (TPB), the research integrates Attitude towards Behavior (AB), Subjective Norms (SN), Perceived Behavioral Control (PBC), Government Influence (GI), and Risk Perception (RP) to assess Behavioral Intention (BI). A mixed-method approach was adopted, combining Delphi expert consultation and a survey of 120 professionals, analyzed using Structural Equation Modeling (SEM). The results reveal that GI, PBC, and RP have the strongest impact on intention, while AB and SN are also significant. The model explains 75.9% of the variance in BI. These findings underscore the importance of institutional frameworks, capacity support, and effective risk management in fostering private investment in PPPs, contributing to the behavioral understanding of PPP participation, and providing actionable policy insights for infrastructure development in emerging economies.
Keywords:
private sector’s behavioral intention, public-private partnership, theory of planned behavior, structural equation modelingDownloads
References
World Bank, Asian Development Bank, and Inter-American Development Bank, Public-Private Partnerships : Reference Guide, Version 2.0. World Bank, Washington, DC; Asian Development Bank, Mandaluyong City, Philippines; Inter-American Development Bank, Washington, DC, 2014.
D. Thanh Huyen. "Vietnam Transport Infrastructure: State, Challenges & Future." Vietnam Briefing. https://www.vietnam-briefing.com/doing-business-guide/vietnam/why-vietnam/vietnam-transport-infrastructure.
H. T. Nguyen, H. Le Thu, M. Q. Thach, and H. Pham Diem, "Factors Affecting Public-Private Partnership Preference in Vietnam Road Infrastructure Projects," in CIGOS 2021, Emerging Technologies and Applications for Green Infrastructure, vol. 203, C. Ha-Minh, A. M. Tang, T. Q. Bui, X. H. Vu, and D. V. K. Huynh, Eds. Singapore: Springer Nature Singapore, 2022, pp. 1525–1533.
I. Ajzen, "The theory of planned behavior," Organizational Behavior and Human Decision Processes, vol. 50, no. 2, pp. 179–211, Dec. 1991.
M. P. Abednego and S. O. Ogunlana, "Good project governance for proper risk allocation in public–private partnerships in Indonesia," International Journal of Project Management, vol. 24, no. 7, pp. 622–634, Oct. 2006.
A. P. C. Chan, R. Osei-Kyei, Y. Hu, and L. Yun, "A fuzzy model for assessing the risk exposure of procuring infrastructure mega-projects through public-private partnership: The case of Hong Kong-Zhuhai-Macao Bridge," Frontiers of Engineering Management, 2018.
H. Liu, "PPP Project Social Capital Selection Based on Fuzzy Network Analysis," Finance and Accounting Monthly, vol. 32, pp. 50-54, 2016.
P. T. Nguyen, V. Likhitruangsilp, and M. Onishi, "Success Factors for Public-Private Partnership Infrastructure Projects in Vietnam," International Journal on Advanced Science, Engineering and Information Technology, vol. 10, no. 2, pp. 858–865, Mar. 2020.
B. Li, A. Akintoye, P. J. Edwards, and C. Hardcastle, "Critical success factors for PPP/PFI projects in the UK construction industry," Construction Management and Economics, vol. 23, no. 5, pp. 459–471, Jun. 2005.
X. Zhang, "Critical Success Factors for Public–Private Partnerships in Infrastructure Development," Journal of Construction Engineering and Management, vol. 131, no. 1, pp. 3–14, Jan. 2005.
T. Liu, Y. Wang, and S. Wilkinson, "Identifying critical factors affecting the effectiveness and efficiency of tendering processes in Public–Private Partnerships (PPPs): A comparative analysis of Australia and China," International Journal of Project Management, vol. 34, no. 4, pp. 701–716, May 2016.
E. Cheung, A. P. C. Chan, and S. Kajewski, "Factors contributing to successful public private partnership projects: Comparing Hong Kong with Australia and the United Kingdom," Journal of Facilities Management, vol. 10, no. 1, pp. 45–58, Feb. 2012.
A. Roumboutsos and K. P. Anagnostopoulos, "Public–private partnership projects in Greece: risk ranking and preferred risk allocation," Construction Management and Economics, vol. 26, no. 7, pp. 751–763, Jul. 2008.
E. W. L. Cheng, "Intentions to Form Project Partnering in Hong Kong: Application of the Theory of Planned Behavior," Journal of Construction Engineering and Management, vol. 142, no. 12, Dec. 2016, Art. no. 04016075.
S. Sinasac, "A Use of the Theory of Planned Behaviour to Determine the Social Barriers to the Implementation of Stormwater Green Infrastructure on Private Properties in Dundas, Hamilton, Ontario," M.S. thesis, University of Waterloo, Ontario, Canada, 2017.
S. Dezdar, "Green information technology adoption: influencing factors and extension of theory of planned behavior," Social Responsibility Journal, vol. 13, no. 2, pp. 292–306, Jun. 2017.
C. Turcanu, T. Perko, and E. Laes, "Public participation processes related to nuclear research installations: What are the driving factors behind participation intention?," Public Understanding of Science, vol. 23, no. 3, pp. 331–347, Apr. 2014.
W. A. W. A. K. Ghani, I. F. Rusli, D. R. A. Biak, and A. Idris, "An application of the theory of planned behaviour to study the influencing factors of participation in source separation of food waste," Waste Management, vol. 33, no. 5, pp. 1276–1281, May 2013.
Z. Wu, A. T. W. Yu, and L. Shen, "Investigating the determinants of contractor’s construction and demolition waste management behavior in Mainland China," Waste Management, vol. 60, pp. 290–300, Feb. 2017.
Z. Luo, J. Li, Z. Wu, S. Li, and G. Bi, "Investigating the Driving Factors of Public Participation in Public-Private Partnership (PPP) Projects—A Case Study of China," International Journal of Environmental Research and Public Health, vol. 19, no. 9, Apr. 2022, Art. no. 5192.
K. Almarri and B. Abu-Hijleh, "Critical Success Factors for Public-Private Partnerships in the UAE Construction Industry- A Comparative Analysis between the UAE and the UK," Journal of Engineering, Project, and Production Management, vol. 7, no. 1, pp. 21–32, Jan. 2017.
Y. Zhang, J. Gu, M. Shan, Y. Xiao, and A. Darko, "Investigating Private Sectors’ Behavioral Intention to Participate in PPP Projects: An Empirical Examination Based on the Theory of Planned Behavior," Sustainability, vol. 10, no. 8, Aug. 2018, Art. no. 2692.
D. Grimsey and M. K. Lewis, "The Governance of Contractual Relationships in Public Private Partnerships," Journal of Corporate Citizenship, vol. 2004, no. 15, pp. 91–109, Sep. 2004.
R. Osei-Kyei and A. P. C. Chan, "Implementing public–private partnership (PPP) policy for public construction projects in Ghana: critical success factors and policy implications," International Journal of Construction Management, vol. 17, no. 2, pp. 113–123, Apr. 2017.
J. E. Weidman, K. R. Miller, J. P. Christofferson, and J. S. Newitt, "Best Practices for Dealing with Price Volatility in Commercial Construction," International Journal of Construction Education and Research, vol. 7, no. 4, pp. 276–293, Oct. 2011.
V. W. Mitchell and P. J. McGoldrick, "The Role of Geodemographics in Segmenting and Targeting Consumer Markets: A Delphi Study," European Journal of Marketing, vol. 28, no. 5, pp. 54–72, May 1994.
M. R. Hallowell and J. A. Gambatese, "Qualitative Research: Application of the Delphi Method to CEM Research," Journal of Construction Engineering and Management, vol. 136, no. 1, pp. 99–107, Jan. 2010.
R. O. Mueller, "Structural equation modeling: Back to basics," Structural Equation Modeling: A Multidisciplinary Journal, vol. 4, no. 4, pp. 353–369, Jan. 1997.
S. Y. Y. Chyung, K. Roberts, I. Swanson, and A. Hankinson, "Evidence-Based Survey Design: The Use of a Midpoint on the Likert Scale," Performance Improvement, vol. 56, no. 10, pp. 15–23, Nov. 2017.
M. P. Singh, A. Chakraborty, and M. Roy, "Developing an extended theory of planned behavior model to explore circular economy readiness in manufacturing MSMEs, India," Resources, Conservation and Recycling, vol. 135, pp. 313–322, Aug. 2018.
F. Abu, A. Yunus, and J. Jabar, "Modified of UTAUT Theory in Adoption of Technology for Malaysia Small Medium Enterprises (SMEs) in Food Industry," Australian Journal of Basic and Applied Sciences, vol. 9, no. 4, pp. 104-109, Jan. 2015.
R. R. Geddes and E. Reeves, "The favourability of U.S. PPP enabling legislation and private investment in transportation infrastructure," Utilities Policy, vol. 48, pp. 157–165, Oct. 2017.
S. T. Ng, Y. M. W. Wong, and J. M. W. Wong, "Factors influencing the success of PPP at feasibility stage – A tripartite comparison study in Hong Kong," Habitat International, vol. 36, no. 4, pp. 423–432, Oct. 2012.
A. Akintoye, C. Hardcastle, M. Beck, E. Chinyio, and D. Asenova, "Achieving best value in private finance initiative project procurement," Construction Management and Economics, vol. 21, no. 5, pp. 461–470, Jul. 2003.
J. Yang, L. Song, X. Yao, Q. Cheng, Z. Cheng, and K. Xu, "Evaluating the Intention and Behaviour of Private Sector Participation in Healthcare Service Delivery via Public-Private Partnership: Evidence from China," Journal of Healthcare Engineering, vol. 2020, pp. 1–13, Jan. 2020.
I. Yitmen, I. Akiner, and I. Tekce, "Applicability Of Second Generation Public Private Partnership Projects (PPP) in Turkey: A Conceptual Framework," in 27th International Conference on Innovation in Architecture, Engineering & Construction, Sao Paulo, Brasil, Aug. 2012.
J. Yuan, C. Wang, M. J. Skibniewski, and Q. Li, "Developing Key Performance Indicators for Public-Private Partnership Projects: Questionnaire Survey and Analysis," Journal of Management in Engineering, vol. 28, no. 3, pp. 252–264, Jul. 2012.
G. Ma, Q. Du, and K. Wang, "A Concession Period and Price Determination Model for PPP Projects: Based on Real Options and Risk Allocation," Sustainability, vol. 10, no. 3, Mar. 2018, Art. no. 706.
E. Cheung, "Developing a best practice framework for implementing public private partnerships (PPP) in Hong Kong," Ph.D. dissertation, School of Urban Development, Faculty of Built Environment and Engineering, Queensland University of Technology, Queensland, Australia, 2009.
E. E. Ameyaw and A. P. C. Chan, "Implementing PPP Water Supply Projects in Ghana: A Model of CSFs," African Journal of Applied Research, vol. 1, no. 1, pp. 453-469, Jan. 2015.
L. Tang, Q. Shen, M. Skitmore, and E. W. L. Cheng, "Ranked Critical Factors in PPP Briefings," Journal of Management in Engineering, vol. 29, no. 2, pp. 164–171, Apr. 2013.
K. Ye, L. Shen, B. Xia, and B. Li, "Key attributes underpinning different markup decision between public and private projects: A China study," International Journal of Project Management, vol. 32, no. 3, pp. 461–472, Apr. 2014.
K. Almarri, "Perceptions of the attractive factors for adopting public–private partnerships in the UAE," International Journal of Construction Management, vol. 19, no. 1, pp. 57–64, Jan. 2019.
A. P. C. Chan, J. F. Y. Yeung, C. C. P. Yu, S. Q. Wang, and Y. Ke, "Empirical Study of Risk Assessment and Allocation of Public-Private Partnership Projects in China," Journal of Management in Engineering, vol. 27, no. 3, pp. 136–148, Jul. 2011.
A. P. C. Chan, P. T. I. Lam, D. W. M. Chan, E. Cheung, and Y. Ke, "Critical Success Factors for PPPs in Infrastructure Developments: Chinese Perspective," Journal of Construction Engineering and Management, vol. 136, no. 5, pp. 484–494, May 2010.
L. Qiao, S. Q. Wang, R. L. K. Tiong, and T.-S. Chan, "Framework for Critical Success Factors of BOT Projects in China," The Journal of Structured Finance, vol. 7, no. 1, pp. 53–61, Apr. 2001.
Y. H. Kwak, Y. Chih, and C. W. Ibbs, "Towards a Comprehensive Understanding of Public Private Partnerships for Infrastructure Development," California Management Review, vol. 51, no. 2, pp. 51–78.
A. Akintoye, M. Beck, and C. Hardcastle, Eds., Public‐Private Partnerships: Managing Risks and Opportunities, 1st ed. Wiley, 2003.
T. M. Nisar, "Risk Management in Public–Private Partnership Contracts," Public Organization Review, vol. 7, no. 1, pp. 1–19, Feb. 2007.
J. F. Hair, J. C. B. William, B. J. Babin, and R. E. Anderson, Multivariate data analysis, 7 ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2010.
C. Fornell and D. F. Larcker, "Evaluating Structural Equation Models with Unobservable Variables and Measurement Error," Journal of Marketing Research, vol. 18, no. 1, pp. 39–50, Feb. 1981.
A. Deep, "Socialist Republic of Viet Nam: Public–Private Partnerships, Private Sector Development, and State-Owned Enterprise Reform," Asian Development Bank, Sept. 2024. [Online] Available: https://www.adb.org/sites/default/files/project-documents/54445/54445-001-tacr-en.pdf.
Y. Alfraidi, S. M. Alzahrani, M. H. H. Abdelhafez, and H. Boussabaine, "Impact of Endogenous Risk Factors on Risk Cost in PPP Projects in Saudi Arabia," Engineering, Technology & Applied Science Research, vol. 10, no. 4, pp. 6087–6091, Aug. 2020.
Downloads
How to Cite
License
Copyright (c) 2025 Huynh Thi Yen Thao, Vuong Thi Thuy Duong
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain the copyright and grant the journal the right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) after its publication in ETASR with an acknowledgement of its initial publication in this journal.
