The Critical Factors Contributing to Private Sector’s Behavioral Intention: A Case Study of Vietnam Construction Public-Private Partnership Projects

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.