※本資料は上段（英語）がオリジナル、下段は参照用の日本語版です。 Public Private Partnerships in South East Asia and India Phillip Georgiou, Jones Day Singapore Office Bill Napier, Jones Day Sydney Office Stephen O'Neal, O'Neal Jones Day San Francisco Office Maria Pedersen, Jones Day Hong Kong Office September 27, 2013 ᮾ༡ࢪཬࡧࣥࢻ࠾ࡅࡿᐁẸࣃ࣮ࢺࢼ࣮ࢩࢵࣉ㸦PPP㸧 䝣䜱䝸䝑䝥䞉䝆䝵䝹䝆䝳䠈䝆䝵䞊䞁䝈䞉䝕䜲 䝅䞁䜺䝫䞊䝹䜸䝣䜱䝇 䝡䝹䞉䝛䜲䝢䜰䠈䝆䝵䞊䞁䝈䞉䝕䜲 䝅䝗䝙䞊䜸䝣䜱䝇 䝇䝔䜱 䝤 䜸䝙 䝹 䝆 䝇䝔䜱䞊䝤䞉䜸䝙䞊䝹䠈䝆䝵䞊䞁䝈䞉䝕䜲 䞁䝈 䝕䜲 䝃䞁䝣䝷䞁䝅䝇䝁䜸䝣䜱䝇 䝬䝸䜰䞉䝢䝎䞊䝉䞁䠈䝆䝵䞊䞁䝈䞉䝕䜲 㤶 䜸䝣䜱䝇 2013ᖺ9᭶27᪥ Part 1 – Section 1: The Basics of PPP Projects Bill Napier, p , Jones Dayy Sydney y y Office 3 ➨1⦅ – ➨1㒊㸸 ᐁẸࣃ࣮ࢺࢼ࣮ࢩࢵࣉࣉࣟࢪ࢙ࢡࢺࡢᇶᮏ 䝡䝹䞉䝛䜲䝢䜰䠈䝆䝵䞊䞁䝈䞉䝕䜲 䝅䝗䝙䞊䜸䝣䜱䝇 4 Introduction 5 ᗎㄽ 6 Introduction and Background g to PPPs • A Public Private Partnership (PPP) is a contractual g between a g government and the p private arrangement sector for the delivery of public infrastructure g often also include the provision p of • Arrangements services in relation to that infrastructure (for example, maintenance and cleaning services) • Public infrastructure is ‘social’ or ‘economic’ – social infrastructure is, broadly, health, education, public sector accommodation, defence and some transport – economic i iinfrastructure f t t is, i b broadly, dl user-pays facilities f iliti such as toll roads 7 PPPᗎㄽཬࡧPPPࡢ⫼ᬒ • ᐁẸࣃ࣮ࢺࢼ࣮ࢩࢵࣉ㸦PPP㸧ࡣබⓗࣥࣇࣛࡢ⣡ධ 㛵ࡍࡿᨻᗓẸ㛫㒊㛛ࡢ㛫ࡢ༠ᐃ࡛࠶ࡿ • ༠ᐃࡣᙜヱࣥࣇࣛ㛵㐃ࡍࡿࢧ ࢧ࣮ࣅࢫ㸦㸸࣓ࣥࢸ ࢼࣥࢫ㸪Ύᤲ㸧ࡢ ࡢᥦ౪ࡀ┒ࡾ㎸ࡲࢀࡿࡇࡀᑡ࡞ࡃ࡞࠸ • බⓗࣥࣇࣛࡣࠕබඹⓗࠖཪࡣࠕ⤒῭ⓗ࡛ࠖ࠶ࡿ – බඹࣥࣇࣛࡣᗈ⩏ࡣᗣ බඹࣥࣇࣛࡣᗈ⩏ࡣᗣ㸪ᩍ⫱㸪බႠఫᏯ㸪㜵⾨ཬࡧ ᩍ⫱ බႠఫᏯ 㜵⾨ཬࡧ ୍㒊ࡢ㐠㍺ࢆྵࡴ – ⤒῭ࣥࣇࣛࡣᗈ⩏ࡣ㧗㏿㐨㊰ࡢࡼ࠺࡞⏝⪅ࡀ⏝ᩱ ࢆᨭᡶ࠺タഛࢆ࠸࠺ 8 Introduction and Background g to PPPs ((cont.)) • Services sold directly to public sector – public sector purchases services from the private sector which is then responsible for up-front p assets investment in capital – public sector provides core services while private sector will typically design, build, finance, maintain and provide non core services – public sector client makes payments only on delivery of services to specified quality standards 9 PPPᗎㄽཬࡧPPPࡢ⫼ᬒ㸦⥆㸧 • බⓗ㒊㛛┤᥋ᥦ౪ࡉࢀࡿࢧ࣮ࣅࢫ – බⓗ㒊㛛ࡣせ࡞㈨⏘ බⓗ㒊㛛ࡣせ࡞㈨⏘ࡢඛ⾜ᢞ㈨㈐௵ࢆ㈇࠺Ẹ㛫㒊㛛 ࡢඛ⾜ᢞ㈨㈐௵ࢆ㈇࠺Ẹ㛫㒊㛛 ࡽࢧ࣮ࣅࢫࡢᥦ౪ࢆཷࡅࡿ – බⓗ㒊㛛ࡣ୰᰾ⓗ࡞ࢧ࣮ࣅࢫࢆᥦ౪ࡋ බⓗ㒊㛛ࡣ୰᰾ⓗ࡞ࢧ ࣅࢫࢆᥦ౪ࡋ㸪Ẹ㛫㒊㛛ࡣタィ㸪 Ẹ㛫㒊㛛ࡣタィ ᘓタ㸪㈨㔠㸪࣓ࣥࢸࢼࣥࢫࢆᢸᙜࡍࡿඹ㠀୰᰾ⓗ࡞ࢧ ࣮ࣅࢫࡢᥦ౪ࢆ⾜࠺ – 㢳ᐈࡋ࡚ࡢබⓗ㒊㛛ࡣ୍ᐃࡢရ㉁ᇶ‽ࢆഛ࠼ࡓࢧ࣮ࣅࢫ ࡢᥦ౪ᑐࡋ࡚ࡢࡳᨭᡶ࠸ࢆ⾜࠺ 10 Introduction and Background g to PPPs ((cont.)) • Financially free standing projects – private sector designs designs, builds builds, finances and operates asset – recovers costs entirely through direct charges to the private users of the asset rather than from p payments y by yp public sector – role of public sector restricted to assistance with planning, licensing and other regulatory approvals – no government contribution or acceptance of risk beyond this • Hybrid of first two – costs t off project j t are mett partly tl from f charges h to t end d user and d partly from public subsidies 11 PPPᗎㄽཬࡧPPPࡢ⫼ᬒ㸦⥆㸧 • ㈈ᨻⓗ⮬❧ࡋࡓࣉࣟࢪ࢙ࢡࢺ – Ẹ㛫㒊㛛ࡣタィ㸪ᘓタ㸪㈨㔠ㄪ㐩ཬࡧ㈨⏘ࡢ㐠Ⴀࢆ⾜࠺ Ẹ㛫㒊㛛ࡣタィ ᘓタ ㈨㔠ㄪ㐩ཬࡧ㈨⏘ࡢ㐠Ⴀࢆ⾜࠺ – බⓗ㒊㛛ࡽࡢᨭᡶࡼࡗ࡚࡛ࡣ࡞ࡃබඹࡢ⏝⪅ࡽ ⏝ᩱࢆᚓࡿࡇࡼࡗ࡚ࡍ ࡚ࡢ㈝⏝ࢆᅇࡍࡿ ⏝ᩱࢆᚓࡿࡇࡼࡗ࡚ࡍ࡚ࡢ㈝⏝ࢆᅇࡍࡿ – බⓗ㒊㛛ࡢᙺࡣィ⏬㸪チㄆྍཬࡧつไୖࡢᢎㄆࡼࡿᨭ ไ㝈ࡉࢀࡿ – ᨻᗓ㒊㛛ࡣୖグ௨ୖࡢฟᤑࡶࣜࢫࢡᘬཷࡅࡶࡋ࡞࠸ • බⓗࣥࣇࣛ⤒῭ࣥࣇࣛࡢ≉ᚩࡀ⼥ྜࡋࡓࣉࣟࢪ࢙ ࢡࢺ – ࣉࣟࢪ࢙ࢡࢺࡢ㈝⏝ࡢ୍㒊ࡣᐇ㝿ࡢ⏝⪅ࡢ⏝ᩱ࡛⿵ሸ ࡉࢀ㸪୍㒊ࡣබⓗ࡞ຓᡂ㔠࡛㈥ࢃࢀࡿ 12 Global Development p • PPP is a global phenomenon – flourished over last 30 years in stable economies with high GDPs, such as UK, Australia, Canada, France, Germany, Netherlands, Ireland, South Africa, Portugal and Italy. Now under d way iin lless d developed l d markets k t – detailed PPP policies have been developed in most of these jurisdictions • PPP is being used across all major public asset classes… 13 ୡ⏺ⓗ࡞ᒎ㛤 • PPPࡣୡ⏺ⓗ࡞⌧㇟ – 㐣ཤ30ᖺ㛫ࢃࡓࡾ 㐣ཤ30ᖺ㛫ࢃࡓࡾ㸪ࢠࣜࢫ㸪࣮࢜ࢫࢺࣛࣜ㸪࢝ࢼ ࢠࣜࢫ ࢜ ࢫࢺࣛࣜ ࢝ࢼ ࢲ㸪ࣇࣛࣥࢫ㸪ࢻࢶ㸪࢜ࣛࣥࢲ㸪ࣝࣛࣥࢻ㸪༡ࣇ ࣜ࢝㸪࣏ࣝࢺ࢞ࣝ㸪ࢱࣜ➼㸪㧗࠸GDPࢆࡿᏳᐃ⤒῭ ᅜ ┒ࢇ ⏝ࡉࢀ ࡁࡓ ⌧ᅾ ࡣⓎᒎ㏵ୖᅜ ࠾ ᅜ࡛┒ࢇ⏝ࡉࢀ࡚ࡁࡓࠋ⌧ᅾ࡛ࡣⓎᒎ㏵ୖᅜ࠾࠸࡚ ࡶᬑཬࡋࡘࡘ࠶ࡿ – PPPࡢලయⓗ࡞つᚊࡣࡇࢀࡽࡢᅜࠎ࠾࠸࡚Ⓨᒎࡋ࡚ ࡁࡓ • PPPࡣ࠶ࡽࡺࡿ✀㢮ࡢせ࡞බඹ㈨⏘㛵ࡋ࡚ά⏝ࡉࢀ ࡚࠸ࡿ 14 Global Development p (cont.) ( ) Share of P3 Projects by Sector, 2007-2011 (per cent) Social infrastructure and defence Transport Water and wastewater C Canada d UK Australia Spain France US 0 20 40 60 80 100 Source: The Conference Board of Canada, August 2013 15 ୡ⏺ⓗ࡞ᒎ㛤㸦⥆㸧 PPPࣉࣟࢪ࢙ࢡࢺࡢ㒊㛛ูྜ㸦㸣㸧2007-2011ᖺ බⓗࣥࣇࣛཬࡧ㜵⾨ 㐠㍺ Ỉ㐨ཬࡧୗỈ ࢝ࢼࢲ ࢠࣜࢫ ࣮࢜ࢫࢺࣛࣜ ࢫ࣌ࣥ ࣇࣛࣥࢫ ࣓ࣜ࢝ 0 20 40 Source: The Conference Board of Canada, August 2013 16 60 80 100 Typical yp PPP Structure GOVERNMENT BODY INDEPENDENT CERTIFIER INVESTORS •Sponsors •Others PROJECT COMPANY LENDERS INSURERS OPERATOR COMPANY CONSTRUCTION COMPANY CONSTRUCTION SUBCONTRACTORS PARENT OF CONSTRUCTION CO COMPANY A OFFTAKER •Government •Public •Other PARENT OF OPERATOR CO COMPANY A OPERATOR SUBCONTRACTORS PPPࡢᆺⓗ࡞ᵓ㐀 ⾜ᨻᶵ㛵 ⊂❧ㄆドᶵ㛵 ᢞ㈨ᐙ ͌ࢫ ࢫ࣏ࣥࢧ࣮ ͌ࡑ ࡑࡢ ࣉࣟࢪ࢙ࢡࢺ♫ ⼥㈨⪅ ಖ㝤ᴗ⪅ 㐠Ⴀ♫ ᘓタ♫ 㐠Ⴀୗㄳ♫ ᘓタୗㄳ♫ 㐠Ⴀ♫ࡢ ぶ♫ ᘓタ♫ࡢぶ♫ ࢜ࣇࢸ࣮࢝ ͌ᨻ ᨻᗓ ͌බ බⓗᶵ㛵 ͌ࡑ ࡑࡢ Typical yp PPP Structure ((cont.)) GOVERNMENT BODY INDEPENDENT CERTIFIER INVESTORS •Sponsors •Others IC Deed Concession Agreement Equity Funding Debt Funding PROJECT COMPANY arrangements arrangements And security LENDERS INSURERS Operation and M i Maintenance Contract D&C Contract CONSTRUCTION COMPANY Construction contract Performance Guarantee Sub-Contracts CONSTRUCTION SUBCONTRACTORS Operation and Maintenance Contract Performance Guarantee PARENT OF CONSTRUCTION CO COMPANY A Sub-Contracts PARENT OF OPERATOR CO COMPANY A OFFTAKER •Government •Public •Other OPERATOR COMPANY OPERATOR SUBCONTRACTORS PPPࡢᆺⓗ࡞ᵓ㐀㸦⥆㸧 ⾜ᨻᶵ㛵 ⊂❧ㄆドᶵ㛵 ICド᫂᭩ ᴗጤクዎ⣙ ᢞ㈨ᐙ ͌ࢫ ࢫ࣏ࣥࢧ࣮ ͌ࡑ ࡑࡢ ࣉࣟࢪ࢙ࢡࢺ♫ ᢞ㈨ዎ⣙ ⼥㈨⪅ ⼥㈨ዎ⣙ཬࡧ ᢸಖタᐃ ಖ㝤ᴗ⪅ 㐠Ⴀཬࡧ ࣓ࣥࢸࢼࣥࢫ ࣓ ࢸࢼ 㛵ࡍࡿዎ⣙ D&Cዎ⣙ 㐠Ⴀ♫ ᘓタ♫ ୗㄳዎ⣙ ᘓタዎ⣙ࡢ ᒚ⾜ಖド 㐠Ⴀཬࡧ ࣓ࣥࢸࢼࣥࢫ 㛵ࡍࡿዎ⣙ ࡢᒚ⾜ಖド ୗㄳዎ⣙ 㐠Ⴀୗㄳ♫ ᘓタୗㄳ♫ 㐠Ⴀ♫ࡢ ぶ♫ ᘓタ♫ࡢぶ♫ ࢜ࣇࢸ࣮࢝ ͌ᨻ ᨻᗓ ͌බ බⓗᶵ㛵 ͌ࡑ ࡑࡢ Typical yp PPP Structure ((cont.)) State Tripartite Agreements / Side Deeds (Construction Contract) State Tripartite Agreements / Side Deeds (Operation and Maintenance Contract) GOVERNMENT BODY INDEPENDENT CERTIFIER INVESTORS •Sponsors •Others Lenders Direct Agreements (construction Contracts) Lenders Tripartite Agreement (Concession agreement) IC Deed Concession Agreement Equity Funding Debt Funding PROJECT COMPANY arrangements arrangements And security LENDERS INSURERS Operation and M i Maintenance Contract D&C Contract CONSTRUCTION COMPANY Construction contract Performance Guarantee Sub-Contracts CONSTRUCTION SUBCONTRACTORS Operation and Maintenance Contract Performance Guarantee PARENT OF CONSTRUCTION CO COMPANY A Sub-Contracts PARENT OF OPERATOR CO COMPANY A OFFTAKER •Government •Public •Other OPERATOR COMPANY Lenders Direct Agreements (operating Contracts) OPERATOR SUBCONTRACTORS PPPࡢᆺⓗ࡞ᵓ㐀㸦⥆㸧 ୕⪅㛫༠ᐃ/ ぬ᭩ 㸦㐠Ⴀཬࡧ࣓ࣥࢸࢼࣥࢫ㛵ࡍࡿዎ⣙㸧 ୕⪅㛫༠ᐃ / 㿊ᴨ˄ᔪ䁝ཱྀ㌴˅ ⼥㈨㛵ࡍࡿ୕⪅㛫༠ᐃ 㸦ᴗጤクዎ⣙㸧 ⾜ᨻᶵ㛵 ⊂❧ㄆドᶵ㛵 IC䁬᰾ᴨ ᴗጤクዎ⣙ ᢞ㈨ᐙ ͌ࢫ ࢫ࣏ࣥࢧ࣮ ͌ࡑ ࡑࡢ ࣉࣟࢪ࢙ࢡࢺ♫ ᢞ㈨ዎ⣙ ⼥㈨⪅ ⼥㈨ዎ⣙ཬࡧ ᢸಖタᐃ ಖ㝤ᴗ⪅ ⼥㈨⪅ࡢ ┤᥋ዎ⣙ 㐠Ⴀཬࡧ ࣓ࣥࢸࢼࣥࢫ ࣓ ࢸࢼ 㛵ࡍࡿዎ⣙ 㸦ᘓタዎ⣙㸧 D&Cዎ⣙ ⼥㈨⪅ࡢ ┤᥋ዎ⣙ 㐠Ⴀ♫ ᘓタ♫ ୗㄳዎ⣙ ᘓタዎ⣙ࡢ ᒚ⾜ಖド 㐠Ⴀཬࡧ ࣓ࣥࢸࢼࣥࢫ 㛵ࡍࡿዎ⣙ ࡢᒚ⾜ಖド ୗㄳዎ⣙ 㐠Ⴀୗㄳ♫ ᘓタୗㄳ♫ 㐠Ⴀ♫ࡢ ぶ♫ ᘓタ♫ࡢぶ♫ ࢜ࣇࢸ࣮࢝ ͌ᨻ ᨻᗓ ͌බ බⓗᶵ㛵 ͌ࡑ ࡑࡢ 㸦㐠Ⴀዎ⣙㸧 Drivers – Financial Return,, Risk Allocation • Public sector – value for money money, especially improved project schedule and capital cost over traditional procurement, governments attracted to the access to private finance also – contract with single consortium counterparty – no risk ‘gaps’ • Private sector – achieve desired p pre-tax and p post-tax returns, cashflow and quarantining of liability – ‘step down’ principle: typical step down deals with all design and d construction t ti risks i k and d allll operational ti l period i d risks i k – consider step down gaps and project unique factors – ‘gaps’ insured against or factored into model 23 ཎືຊ – ┈ᵓ㐀ཬࡧࣜࢫࢡ㓄ศ • බⓗ㒊㛛 – ㈝⏝ᑐຠᯝࡢᨵၿ ㈝⏝ᑐຠᯝࡢᨵၿ㸪≉ఏ⤫ⓗ࡞ᨻᗓㄪ㐩ẚ࡚ࣉࣟࢪ࢙ࢡ ≉ఏ⤫ⓗ࡞ᨻᗓㄪ㐩ẚ࡚ࣉࣟࢪ࢙ࢡ ࢺࡢࢫࢣࢪ࣮ࣗࣝཬࡧ㈨ᮏࢥࢫࢺࡀᨵၿࡉࢀࡓࡇࡽ㸪ᨻᗓ ࡣẸ㛫㔠⼥ࡢࢡࢭࢫ๓ྥࡁ࡞ࡗࡓ – ࢥࣥࢯ࣮ࢩ࣒ࡓࡿᴗ⪅ࡢ༢୍ዎ⣙ ࢩ ࣒ࡓࡿᴗ⪅ࡢ༢ ዎ⣙ – ࣜࢫࢡࡢࠕࢠࣕࢵࣉࠖࡣ࡞࠸ • Ẹ㛫㒊㛛 – ᮃࡲࡋ࠸ㄢ⛯๓ཬࡧㄢ⛯ᚋࡢ┈㸪࢟ࣕࢵࢩࣗࣇ࣮ࣟཬࡧ㈐௵ 㝸㞳ࢆ㐩ᡂࡍࡿ – ࢫࢸࢵࣉ࣭ࢲ࢘ࣥࡢཎ๎㸸ᆺⓗ࡞ࢫࢸࢵࣉ࣭ࢲ࡛࢘ࣥࡣタィ ཬࡧᘓタࡢࣜࢫࢡ㸪㐠Ⴀᮇ㛫ࡢ࡚ࡢࣜࢫࢡᑐฎࡍࡿ – ࢫࢸࢵࣉ࣭ࢲ࢘ࣥࡢࢠࣕࢵࣉࣉࣟࢪ࢙ࢡࢺ≉᭷ࡢせ⣲ࢆ⪃៖ ࢫࢸ ࣉ ࢲ࢘ࣥࡢࢠࣕ ࣉࣉࣟࢪ ࢡࢺ≉᭷ࡢせ⣲ࢆ⪃៖ – ࠕࢠࣕࢵࣉࠖࡣಖ㝤࡛ᑐฎࡍࡿࣔࢹࣝ⤌ࡳ㎸ࡴ 24 Drivers – Financial Return,, Risk Allocation ((cont.)) • Design and Construction to be covered in further detail, but (in outline) to include… – scope and interfaces – approvals pp – site conditions – extension of time time, compensation for ‘relief relief events’ events – liquidated damages, liability caps, indirect loss, indemnities g generally y – fitness for purpose – termination triggers, sunset date 25 ཎືຊ – ┈ᵓ㐀ཬࡧࣜࢫࢡ㓄ศ㸦⥆㸧 • タィཬࡧ㐠Ⴀࡣᴫせ௨ୗࢆྵࡴ㸦ࡓࡔࡋ㸪ࡼࡾヲ⣽࡞ ࢝ ࢝ࣂ࣮ࡀᚲせ㸧 ࡀᚲせ㸧 – ⠊ᅖཬࡧࣥࢱ࣮ࣇ࢙࣮ࢫ – ᢎㄆ – ⌧ሙ⎔ቃ – ᮇ㛫ᘏ㛗, ᮇ㛫ᘏ㛗 ࠕᩆ῭⏤ࠖᑐࡍࡿ⿵ൾ – ㈺ൾ㢠ࡢணᐃ㸪㈐௵ࡢ㝈ᐃ㸪㛫᥋ᦆᐖ㸪⿵ൾ୍⯡ – ┠ⓗ㐺ྜᛶ – ዎ⣙⤊᮲㡯㸪⤊᪥ 26 Drivers – Financial Return,, Risk Allocation ((cont.)) • Operations and Maintenance – contracted services – ‘hard’ hard (for example lifecycle based based, related to construction cost) and ‘soft’ (for example landscaping maintenance) – output specifications – what, not how • Service standards and failure, evaluation and monitoring of performance • Benchmarking, market testing and re-setting • Payment principles – ‘unitary’ payment for availability – fixed and variable components 27 ཎືຊ – ┈ᵓ㐀ཬࡧࣜࢫࢡ㓄ศ㸦⥆㸧 • 㐠Ⴀཬࡧ࣓ࣥࢸࢼࣥࢫ – ዎ⣙ୖࡢࢧ ዎ⣙ୖࡢࢧ࣮ࣅࢫ ࣅࢫ – ࠕࣁ࣮ࢻࠖ㸦㸸ࣛࣇࢧࢡࣝᇶ ࠕࣁ ࢻࠖ㸦 ࣛࣇࢧࢡࣝᇶ ࡙ࡃཪࡣ㛵㐃ࡍࡿᘓタࢥࢫࢺ㸧ཬࡧࠕࢯࣇࢺࠖ㸦㸸ᬒほ ࡢ⥔ᣢ㸧 – ᡂᯝ≀ࡢᵝ – How࡛ࡣ࡞ࡃWhat • ࢧ࣮ࣅࢫࡢᶆ‽୪ࡧࣃࣇ࢛࣮࣐ࣥࢫࡢ㞀ᐖ㸪ホ౯ཬࡧ ࣔࢽࢱࣜࣥࢢ • ࣋ࣥࢳ࣐࣮ࢡࡢタᐃ㸪ᕷሙㄪᰝཬࡧࣜࢭࢵࢺ • ᨭᡶࡘ࠸࡚ࡢཎ๎ – ࣋ࣛࣅࣜࢸᑐࡍࡿࠕ⤫୍ⓗ࡞ࠖᨭᡶ࠸ ࣛࣅࣜࢸᑐࡍࡿ ⤫ ⓗ࡞ࠖᨭᡶ࠸ – ᅛᐃⓗཬࡧྍኚⓗ࡞ᵓᡂせ⣲ 28 Drivers – Financial Return,, Risk Allocation ((cont.)) Payment mechanism features Contractual risks are allocated to those ti responsible ibl for… f parties Availability Planning D i Design Construction Commissioning Ongoing availability / operations / lifecycle Performance Facility management / operation to agreed standards Volume Taking / sharing risk on demand Indexation payment y linked to index Part of p 29 ཎືຊ – ┈ᵓ㐀ཬࡧࣜࢫࢡ㓄ศ(⥆) ( ) ᨭᡶ࣓࢝ࢽࢬ࣒ࡢ ዎ⣙ୖࡢࣜࢫࢡࡣ௨ୗࡘ࠸࡚㈐௵ࢆ㈇࠺ᙜ ≉ᚩ ⪅ศ㓄ࡉࢀࡿ ࣋ࣛࣅࣜࢸ ⏬ タィ タ ᘓタ ヨ㐠㌿ ⥅⥆ⓗ࡞࣋ࣛࣅࣜࢸ / 㐠Ⴀ / ࣛࣇ ࢧࢡࣝ ࣃࣇ࢛ ࣐ࣥࢫ ࣃࣇ࢛࣮࣐ࣥࢫ ྜពࡉࢀᚓࡓỈ‽࡛ࡢタഛࡢ⟶⌮ / 㐠Ⴀ ᩘ㔞 㟂せ㛵ࡍࡿࣜࢫࢡࡢᘬཷࡅ / ඹ᭷ ᣦᩘ ᣦᶆࣜࣥࢡࡍࡿᨭᡶ㒊ศ 30 Conclusion of P t 1 - Section Part S ti 1 31 ➨㸯⦅ - ➨㸯㒊ࡢ⤖ㄽ 32 Part 1 – Section 2 : Current Opportunities and Developments Maria Pedersen,, Jones Dayy Hong g Kong g Office 33 ➨1⦅ ʋ➨2㒊㸸 ➨2㒊㸸 ⌧ᅾࡢ≧ἣཬࡧᒎ㛤 䝬䝸䜰䞉䝢䝎䞊䝉䞁䠈䝆䝵䞊䞁䝈䝕䜲㤶 䜸䝣䜱䝇 34 General Overview – The Need for PPP Development • India and South East Asian countries have a huge need for a high and sustainable growth in the economy in order to raise the overall standard of living and reduce poverty • Investment climate surveys repeatedly showed that the limited and poor q p quality y of infrastructure facilities acted as a major j impediment p to business growth in this region • Governments are no longer able to finance infrastructure projects solely or even predominantly from the public purse, therefore they highly promote PPP • PPP in infrastructure projects picked picked-up up momentum since mid mid-90s 90s in this region which continues to show great potential in PPP development 35 ᴫせ – PPPⓎᒎࡢᚲせᛶ • ࣥࢻཬࡧᮾ༡ࢪㅖᅜࡣ㸪⯡ⓗ࡞⏕άỈ‽ࡢྥୖཬࡧ㈋ᅔ ࡢῶᑡࢆ┠ⓗࡋ࡚㧗ᗘ࡛ᣢ⥆ྍ⬟࡞⤒῭ᡂ㛗ᑐࡍࡿࡁ࡞ᚲ せᛶ┤㠃ࡋ࡚࠸ࡿ • ᢞ㈨⎔ቃ㛵ࡍࡿㄪᰝ࡛ࡣ ᢞ㈨⎔ቃ㛵ࡍࡿㄪᰝ࡛ࡣ㸪ࣥࣇࣛࢫࢺࣛࢡࢳ࣮ࣕ㛵ࡍࡿ㉁ ࣥࣇࣛࢫࢺࣛࢡࢳࣕ 㛵ࡍࡿ㉁ ࡢపࡉࡀࡇࡢᆅᇦ࠾ࡅࡿ⤒῭ᡂ㛗ࡢせ࡞㞀ᐖ࡞ࡗ࡚࠸ࡿࡇ ࡀ⧞ࡾ㏉ࡋ♧ࡉࢀ࡚࠸ࡿ • ᨻᗓࡣ㸪ࣥࣇࣛࢫࢺࣛࢡࢳ࣮ࣕ㛵ࡍࡿࣉࣟࢪ࢙ࢡࢺࡢ㈨㔠ࢆ ᅜᗜ㔠ࡽ༢⊂࡛ཪࡣࡇࢀࢆࡋ࡚㈥࠺ࡇࡣࡶࡣࡸ࡛ࡁࡎ㸪 ࡑࡢ⤖ᯝࡋ࡚PPPࢆᙉࡃ᥎㐍ࡋ࡚࠸ࡿ • ࣥࣇࣛࢫࢺࣛࢡࢳ࣮࣭ࣕࣉࣟࢪ࢙ࢡࢺ㛵ࡍࡿPPPࡣࡇࡢᆅᇦ ࠾࠸࡚90ᖺ௦༙ࡤᣑࢆጞࡵ㸪 ࠾࠸࡚90ᖺ௦༙ࡤᣑࢆጞࡵ㸪PPPࡀⓎᒎࡍࡿࡁ࡞ྍ⬟ᛶ ࡀⓎᒎࡍࡿࡁ࡞ྍ⬟ᛶ ࢆ♧ࡋ⥆ࡅ࡚࠸ࡿ 36 Development of PPP – Project Count from 1990 to 2012 Number of proje N ects reaching ffinancial closure 100 80 Indonesia Cambodia Laos 60 Malaysia Myanmar Philippines 40 Thailand Vietnam India 20 0 19901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012 Year Source : Compiled from the World Bank PPI Database 37 PPPࡢⓎᒎ – ࣉࣟࢪ࢙ࢡࢺ௳ᩘ 㸦1990ᖺ㹼2012ᖺ㸧 ㈨㔠ㄪ㐩ࡀ ࡋࡓࣉࣟࢪ࢙ࢡࢺࡢ௳ ௳ᩘ 100 80 Indonesia ࣥࢻࢿࢩ Cambodia ࢝ࣥ࣎ࢪ Laos ࣛ࢜ࢫ 60 Malaysia ࣐࣮ࣞࢩ Myanmar ࣑࣐࣮ࣕࣥ Philippines ࣇࣜࣆࣥ 40 Thailand ࢱ Vietnam ࣋ࢺࢼ࣒ India ࣥࢻ 20 0 19901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012 Year ᖺ Source : Compiled from the World Bank PPI Database 38 Development De elopment of PPP – Total N Number mber of PPP Projects reaching financial closure from 1990 to 2012 India Philippines Thailand Indonesia Malaysia Vietnam Cambodia Laos Myanmar 0 100 200 300 400 500 600 700 800 Source : Compiled from the World Bank PPI Database 39 PPPࡢⓎᒎ Ⓨᒎ – ㈨㔠ㄪ㐩ࡀࡋࡓPPPࣉࣟࢪ࢙ࢡࢺ ㈨㔠ㄪ㐩ࡀࡋࡓ ࣉ ࢪ ࢡࢺ ࡢ௳ᩘ 㸦1990ᖺ㹼2012ᖺ㸧 India ࣥࢻ Philippines ࣇࣜࣆࣥ Thailand ࢱ Indonesia ࣥࢻࢿࢩ Malaysia ࣐࣮ࣞࢩ ࣋ࢺࢼ࣒ Vietnam ࢝ࣥ࣎ࢪ Cambodia ࣛ࢜ࢫ Laos ࣑࣐࣮ࣕࣥ Myanmar 0 100 200 300 400 500 Source : Compiled from the World Bank PPI Database 40 600 700 800 PPP Systems Comparison Financial support from Government Institutional framework • • National Development Planning Agency (BAPPENAS) Coordinating Ministry for Economic Affairs (CMEA) Ministry of Finance (MOF) Malaysia • 3PU Philippines • • PPP Center NEDA Thailand • • • SEPO Ministry of Finance (MOF) Communitee of Private Investment in State Undertaking India • PPP Center Vietnam • Ministry of Planning and Investment Indonesia • • • Viability Gap Funding (VGF) Indonesia Infrastructure Guarantee Fund (IIGF) • • No guarantee for long term funding Facilitation Fund • • Case by case approach No direct government guarantee, subsidy or equity for unsolicited projects • • • No direct government guarantee for funding to the private sector Fiscal budget Multilateral institutions • • VGF India Infrastructure Finance Company Limited • Case by case approach Project Development Fund (PDF) • Some organisations are entitled to provide PDF based on specific regulations • No PDF • Project Development and Monitoring Facility (PDMF) Strategic Support Fund • • Establishment of PDF underway • PDF • Establishment E t bli h t off PDF underway (around VND20,000billion) Source: ASEAN PPP at a glance by ERIA 41 PPP ࢩࢫࢸ࣒ࡢẚ㍑ ᶵᵓ㠃࡛ࡢᯟ⤌ࡳ ࣥࢻࢿࢩ ࢱ • ࣂࣅࣜࢸ࣭ࢠࣕࢵࣉ࣭ࣇࣥࢻ (VGF) • ࣥࢻࢿࢩࣥࣇࣛࢫࢺࣛࢡࢳ࣮ࣕ ಖドࣇࣥࢻ (IIGF) • ࠸ࡃࡘࡢᅋయࡀ≉ᐃࡢつไ ᇶ࡙࠸࡚PDFࡢᥦ౪ࢆㄆྍࡉࢀ ࡚࠸ࡿࠋ • 3PU • 㛗ᮇⓗ࡞㈨㔠౪⤥ࡘ࠸࡚ࡢಖドࡣ࡞ ࡋ • タഛ㠃࡛ࡢࣇࣥࢻ • PDF࡞ࡋ • PPP ࢭࣥࢱ ࢭࣥࢱ࣮ • NEDA • ௳ࡈࡢࣉࣟʊࢳ • 㠀せㄳᆺࣉࣟࢪ࢙ࢡࢺᑐࡍࡿ┤᥋ⓗ ࡞ᨻᗓಖド㸪⿵ຓ㔠㸪㈨ᮏ౪ࡣ࡞࠸ • ࣉࣟࢪ࢙ࢡࢺ㛤Ⓨ࣭┘どᶵ㛵 ࣉࣟࢪ࢙ࢡࢺ㛤Ⓨ ┘どᶵ㛵 (PDMF) • ᡓ␎ⓗᨭࣇࣥࢻ • SEPO • ㈈ົ┬ (MOF) • ᅜᐙᴗ࠾ࡅࡿẸ㛫ᢞ㈨ ጤဨ • Ẹ㛫㒊㛛ࡢ㈨㔠౪⤥ࡘ࠸࡚┤᥋ࡢ ᅜᐙಖドࡣ࡞ࡋ • ᅜᐙண⟬ • ከᅜ㛫ࡢᶵ㛵 • PDFࡢタ❧ࡀ㐍⾜୰ • PPP ࢭࣥࢱ࣮ • VGF • ࣥࢻࣥࣇࣛࢫࢺࣛࢡࢳࣕʊᰴᘧ ♫ • PDF • ⏬ᢞ㈨┬ • ௳ࡈࡢࣉ࣮ࣟࢳ • PDFࡢタ❧ࡀ㐍⾜୰ (⣙㸰㸮㸮൨ ࣋ࢺࢼ࣒ࢻࣝ㸧 ࣥࢻ ࣋ࢺࢼ࣒ ࣉࣟࢪ࢙ࢡࢺᒎ㛤ࣇࣥࢻ ((PDF)) • ᅜᐙⓎᒎィ⏬ᗇ (BAPPENAS) • ⤒῭ㄪᩚ┬ (CMEA) • ㈈ົ┬ (MOF) ࣐࣮ࣞࢩ ࣇࣜࣆࣥ ᨻᗓࡽࡢ㈨㔠㠃࡛ࡢᨭ Source: ASEAN PPP at a glance by ERIA 42 India – Overview • Ranked the 5th country with the most ideal environment for PPP projects in ASEAN by The 2011 Infrascope • According to the World Bank data, India is the largest market for f PPP in the developing world: • Government aims to promote PPP so that by 2014 2014, private investments would represent 50% of the infrastructure investments • Enormous investment needed driven by roads infrastructure 43 ࣥࢻ – ᴫせ • 2011ᖺ∧ Infrascope࠾࠸࡚ASEAN࡛PPPࣉࣟࢪ࢙ࢡࢺ ࡢࡓࡵࡢ⌮ⓗ࡞⎔ቃࢆഛ࠼ࡓᅜࡢ➨5␒┠ࣛࣥࢡࡉࢀ ࡓ • ୡ⏺㖟⾜ࡢࢹ࣮ࢱࡼࡿࣥࢻࡣⓎᒎ㏵ୖᅜࡢ୰࡛᭱ ࡢPPPᕷሙ࡛࠶ࡿ – ᨻᗓࡣ2014ᖺࡣࣥࣇࣛࢫࢺࣛࢡࢳ࣮ࣕᑐࡍࡿᢞ ㈨ࡢ ㈨ࡢ50㸣ࢆẸ㛫ᢞ㈨ࡀ༨ࡵࡿࡇࢆ┠ᣦࡋ࡚PPPࡢಁ ࢆẸ㛫ᢞ㈨ࡀ༨ࡵࡿ ࢆ┠ᣦࡋ࡚ ࡢಁ 㐍ࢆᅗࡋ࡚࠸ࡿ • 㐨㊰タഛ≌ᘬࡉࢀࡿᕧ࡞ᢞ㈨ࡀᚲせࡉࢀ࡚࠸ࡿ 44 India – PPP Projects in the Pipeline 140 128 11% 120 In planning 42% 100 In tender 85 47% Project awarded 80 60 Models of PPP in India 40 3% 20 5 2% 4% 15 9 6 1 1 19% 6 BOT DBFOT 0 DBFO DBFOM DBFOMT 72% Source : Compiled from InfraPPP World 45 ࣥࢻ – 㐍⾜୰ࡢPPP ࣉࣟࢪ࢙ࢡࢺ 140 128 11% 120 Inィ⏬୰ planning 42% 100 Inධᮐ୰ tender 85 47% Ⓨὀ῭awarded Project 80 60 ࣥࢻࡢPPPࣔࢹࣝ 40 4% 3% 2% 20 5 15 9 6 1 1 Ỉ 㐨 Ỉ ฎ ⌮ 19% 6 BOT DBFOT 0 DBFO ✵ 㕲 㐨 㐨 ㊰ ‴ ᘓ ⠏ ࡈ ࡳ ฎ ⌮ Source : Compiled from InfraPPP World 46 ࣉ ࣟ ࢪ 勍 ࢡ ࢺ ྜ ィ DBFOM 72% DBFOMT I di – Opportunities India O t iti in i the th P Portt S Sector t • Projected growth of the port sector: • Driven by notorious delay in turnaround times • The government has developed its port infrastructure through an investment of US$25 billion through PPP • 100% FDI permitted • 100% income tax exemption for 10 years Source : Indian Port Sector by Gammon Infrastructure Projects Limited • Projected growth in cargo volume 47 ࣥࢻ – ‴㒊㛛࠾ࡅࡿ≧ἣ • ‴㒊㛛ࡢᡂ㛗ぢ㏻ࡋ • ᝏྡ㧗࠸ ࡛ࡢ⯪㛫ࡢ㐜ᘏࡀ ᥎㐍ຊ • ᨻᗓࡣPPPࡅࡓ250൨⡿ࢻࣝ ࡢᢞ㈨ࢆ㏻ࡌ࡚ ‴ࣥࣇࣛࢆ㛤 Ⓨࡋ࡚ࡁࡓࠋ • 100%ࡢእᅜ┤᥋ᢞ㈨ࡀㄆࡵࡽࢀ ࡚࠸ࡿࠋ ࡚࠸ࡿ • 10ᖺ㛫ᡤᚓ⛯ࢆ100%ච㝖 Source : Indian Port Sector by Gammon Infrastructure Projects Limited • ㈌≀㔞ࡢᡂ㛗ぢ㏻ࡋ 48 India – Opportunities in the Port Sector • 11 Major ports highlighted for redevelopment 49 ࣥࢻ – ‴㒊㛛࡛ࡢ≧ἣ • 㛤Ⓨ࡛⬮ගࢆᾎࡧࡿせ11 ࣮࢝ࣥࢻ࣮ࣛ ࢥࣝ࢝ࢱ ࣃࣛࢹࣉ ࣒ࣥࣂ ࣦࢩ࣮ࣕ࢝ࣃࢺࢼ࣒ ࣐࣮࣒࣮ࣝ࢞࢜ ࢽ࣮࣐࣮ࣗࣥ࢞ࣟࣝ ࢚ࣀ࣮ࣝ ࢳ࢙ࣥࢼ ࢥ࣮ࢳࣥ ࢶࢳࢥࣜࣥ 50 India – Opportunities in the Aviation Sector • Projected growth of the aviation sector: • Plans to upgrade pg 125 airports p and to add new airports p in the next 10 yyears • Need for private investment into this sector • Compound annual growth at over 15% in passenger traffic in the next few years • Growth of cargo traffic • 100% income tax exemption for a period of 10 years • 100% FDI permitted • 100% equity ownership by foreign company permitted Source : Ministry of Civil Aviation 51 ࣥࢻ – ⯟✵㒊㛛࠾ࡅࡿ≧ἣ • ⯟✵㒊㛛ࡢᡂ㛗ぢ㏻ࡋ • 125ࡢ✵ ࢆᨵಟࡍࡿࡶྥࡇ࠺10ᖺࡢ㛫✵ ࢆ᪂ タࡍࡿィ⏬ • ⯟✵㒊㛛ࡢẸ㛫ᢞ㈨ࡢᚲせᛶ • ᚋᩘᖺࡢ᪑ᐈ⪅ᩘࡣྜィ࡛ᖺ㛫15%ࡢ」ᡂ㛗 • ㈌≀㍺㏦㔞ࡢቑຍ • 10ᖺ㛫ᡤᚓ⛯ࢆ100%ච㝖 • 100%ࡢእᅜ┤᥋ᢞ㈨ࡀㄆࡵࡽࢀ࡚࠸ࡿ • እᅜᴗࡼࡿ♫ࡢ100%ᡤ᭷ࡀㄆࡵࡽࢀ࡚࠸ࡿ Source : Ministry of Civil Aviation 52 India – Trend of Locations of PPP Projects • 61% – located in 7 key states in India 15% Maharashtra • 39% – located in 21 other states 12% Tamil Nadu Gujarat 8% • Why? 8% Uttar Pradesh Madhya Pradesh 6% Andhra Pradesh • More robust regulatory framework 6% 6% Karnataka 21 other states 39% Total 100% 0 20 40 60 80 100 % of total announced projects between 2006 and 11 Source: Thomson One; "Developing India’s Infrastructure through Public Private Partnerships", BGC research • With these robust regulatory framework, PPP projects p j located in these states are more likely to succeed 53 ࣥࢻ – PPPࣉࣟࢪ࢙ࢡࢺࡢᆅᇦⓗഴྥ PPPࣉࣟࢪ ࢡࢺࡢᆅᇦⓗഴྥ • 61% – ࣥࢻࡢせ7ᕞ ᡤᅾ 15% ࣐ࣁ࣮࣮ࣛࢩࣗࢺࣛ 12% ࢱ࣑ࣝ·ࢼ࣮ࢻ ࢢࢪ࣮ࣕࣛࢺ • 39% – ࡢ21ᕞᡤᅾ 8% • ⌮⏤ 8% ࢘ࢵࢱ࣭ࣝࣉࣛࢹ࣮ࢩࣗ ࣐ࢹࣖ ࣉࣛࢹ ࢩ ࣐ࢹ࣭ࣖࣉࣛࢹ࣮ࢩࣗ • ࡼࡾ࡞つไࡢᯟ⤌ࡳ 6% ࣮ࣥࢻ࣭ࣛࣉࣛࢹ࣮ ࢩࣗ 6% ࢝ࣝࢼ࣮ࢱ࢝ • ࡞つไࡢᯟ⤌ࡳ┦ ࡲࡗ࡚せ7ᕞࡢPPPࣉ ࣟࢪ࢙ࢡࢺࡣࡼࡾᡂຌࡍ ࡿྍ⬟ᛶࡀࡁ࠸ 6% ࡢ21ᕞ 39% 100% Total 0 20 40 60 80 100 2006ᖺࡽ2011ᖺࡲ࡛ࡢ㛫බ⾲ࡉࢀࡓ ࣉࣟࢪ࢙ࢡࢺࡢࣃ࣮ࢭࣥࢸࢵࢪ Source: Thomson One; "Developing India’s Infrastructure through Public Private Partnerships", BGC research 54 India – Risks for Foreign Investors • Risk allocation is significantly biased in favour of the government • Land acquisition risk is a significant factor derailing most projects • Variety of state-based approaches gives significant advantage to local private sectors • High corruption risk due to lack of transparency: - Often results in faulty bidding process • Long legal and bureaucratic procedure • Lack of coordination Source : BCG research and Public Private Partnership: A Growth accelerator or a power failure? – by the Property Observer 55 ࣥࢻ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ࣜࢫࢡศᢸࡀᨻᗓ᭷ࡁࡃ೫ࡗ࡚࠸ࡿ • ከࡃࡢࣉࣟࢪ࢙ࢡࢺࡀ㌶㐨ࡽእࢀࡿ࡞せᅉࡣᅵᆅྲྀ ᚓࣜࢫࢡ࠶ࡿ ᕞᇶ♏ࢆ⨨ࡃࣉ࣮ࣟࢳࡢከᵝᛶࡀ⌧ᆅࡢẸ㛫ᴗ ᇶ♏ࢆ⨨ࡃ ࢳ ከᵝᛶ ⌧ᆅ Ẹ㛫ᴗ • ᕞ ࡁ࡞Ⅼ࡞ࡗ࡚࠸ࡿ • ㏱᫂ᛶࡢḞዴࡼࡿ㧗࠸ở⫋ࣜࢫࢡ - 㐺ษ࡞ධᮐᡭ⥆ࡀ⾜ࢃࢀࡿࡇࡶࡋࡤࡋࡤ • 㛗ᮇࢃࡓࡿἲⓗᡭ⥆ཬࡧ⾜ᨻᡭ⥆ • ㄪᩚ㊊ Source : BCG research and Public Private Partnership: A Growth accelerator or a power failure? – by the Property Observer 56 Case Study - Airport Express Line of Delhi Metro • Issues: • Cracks found in the metro pillar structures: – Resulted in the shut shut-down down of the express line for 6 months • Inflated traffic projection: – Skewed the projection of financial viability for the operator • Speed cut due to safety issues • Missed 4 deadlines • Causes C off th the iissues: • Poor preparation • Flawed risk-sharing g – biased in favour of the g government • Absence of an institutional mechanism to deal with renegotiations • Forgetting about “Partnership” Partnership in PPP 57 ࢣ ࢫ ࢫࢱࢹ – ࢹࣜ ࢣ࣮ࢫ࣭ࢫࢱࢹ ࢹ࣮࣭࣓ࣜࢺ࣭ࣟ ࣓ࢺࣟ ࢚࣏࣮ࢺ࣭࢚ࢡࢫࣉࣞࢫ࣭ࣛࣥ • ၥ㢟 • ᆅୗ㕲ࡢᰕ≧ᵓ㐀≀࡛ࡢࡦࡧࢀࡢⓎぢ – ࢚࣏࣮ࢺ࣭࢚ࢡࢫࣉࣞࢫࡣ6᭶㛫ఇᴗ ࣏ ࢺ ࢡ ࣉ ࡣ ᭶㛫ఇᴗ • 㐣࡞⏝ண – 㐠Ⴀ⪅ࡢ㈈ົ㠃࡛ࡢᐇ⾜ྍ⬟ᛶࡢண ࢆṍࡵࡓࠋ • Ᏻୖࡢၥ㢟ࡼࡿప㏿ • ᮇ㝈ࢆ4ᗘᚐ㐣 • ၥ㢟ࡢཎᅉ • ‽ഛ㊊ • ࣜࢫࢡศᢸࡢḞ㝗 ᢸ Ḟ㝗 – ᨻᗓ᭷ࡢ೫ࡾ ᨻᗓ᭷ ೫ • ΅㛵ࡍࡿไᗘⓗ࡞⤌ࡳࡢᏑᅾ • PPP࠾ࡅࡿࠕࣃ࣮ࢺࢼ࣮ࢩࢵࣉࠖࡢᛀ༷ PPP࠾ࡅࡿ ࣃ ࢺࢼ ࢩࢵࣉࠖࡢᛀ༷ 58 Indonesia - Overview • The Masterplan for the Acceleration and Expansion of Indonesian Economic Growth (MP3EI) • Goal • Key sectors for PPP development: • Water supply • Roads • Railroads Source :Masterplan – Acceleration and Expansion of Indonesia Economic Development 2011-2025 by The Republic of Indonesia 59 ࣥࢻࢿࢩ – ᴫせ • ࣥࢻࢿࢩࡢ⤒῭ᡂ㛗ࡢຍ㏿࣭ᣑࡢࡓࡵࡢ ࣥࢻࢿࢩࡢ⤒῭ᡂ㛗ࡢຍ㏿ ᣑࡢࡓࡵࡢ ᇶᮏィ⏬ (MP3EI) • ┠ᶆ • PPPⓎᒎࡢࡓࡵࡢせ㒊㛛 • 㣧ᩱỈ౪⤥ • 㐨㊰ • 㕲㐨 Source :Masterplan – Acceleration and Expansion of Indonesia Economic Development 2011-2025 by The Republic of Indonesia 60 Indonesia – Recent Developments in the Legal Framework • Presidential Regulation No.67 (2005) as amended by the Presidential Regulation No.13 (2010) and the Presidential Regulation No.56 No 56 (2011) • Sets out provisions necessary for PPP implementation • Applicable to the following sectors: – Transportation Infrastructure – Road Infrastructure – Irrigation Infrastructure – Drinking Water Infrastructure – Information I f ti and d Telecommunication T l i ti Infrastructure I f t t – Electricity Infrastructure – Oil and Gas Infrastructure 61 ࣥࢻࢿࢩ –㏆ᖺࡢἲไᗘࡢⓎᒎ ㏆ᖺࡢἲไᗘࡢⓎᒎ • ⤫㡿௧➨13ྕ㸦2010ᖺ㸧ཬࡧ⤫㡿௧➨56ྕ㸦2011 ᖺ㸧ࡼࡗ࡚ಟṇࡉࢀࡓ⤫㡿௧➨67ྕ㸦2005ᖺ㸧 • PPPᐇᚲせ࡞つᐃࡢᩚഛ • ௨ୗࡢ㒊㛛㐺⏝ – ㏻ࣥࣇࣛ – 㐨㊰ࣥࣇࣛ – ℺₅ࣥࣇࣛ – 㣧ᩱỈࣥࣇࣛ – ሗ㏻ಙࣥࣇࣛ – 㟁ຊࣥࣇࣛ – ▼Ἔ࣭࢞ࢫࣥࣇࣛ 62 Indonesia – Recent Developments in the Legal Framework (cont’) • Ministry of Finance Regulation No.223 (2012) • Prescribed a Viability Gap Fund (VGF) to raise the financial viability of PPP projects • VGF – Financial support for construction costs of PPP projects • The Ministry of Finance is now preparing a regulation on Project Development Facility (PDF) 63 ࣥࢻࢿࢩ – ㏆ᖺࡢἲไᗘࡢⓎᒎ ㏆ᖺ ἲไᗘ Ⓨᒎ 㸦⥆㸧 • 㔠⼥ᗇつ๎➨223ྕ㸦2012ᖺ㸧 • PPPࣉࣟࢪ࢙ࢡࢺࡢ㈈ᨻⓗ࡞ᐇ⌧ྍ⬟ᛶࢆ㧗ࡵࡿ ࡓࡵࡢࣂࣅࣜࢸ࣭ࢠࣕࢵࣉ࣭ࣇࣥࢻ 㸦VGF㸧ࡘ࠸࡚つᐃ • VGF – PPPࣉࣟࢪ࢙ࢡࢺ࠾ࡅࡿᘓタ㈝⏝ࡢ㈈ᨻⓗᨭ • 㔠⼥ᗇࡣ⌧ᅾࣉࣟࢪ࢙ࢡࢺ㛤Ⓨᶵ㛵㸦PDF㸧㛵ࡍࡿ つไࢆ‽ഛࡋ࡚࠸ࡿ 64 Indonesia – PPP Projects in the Pipeline Sector Number of Projects Cost of Projects (in Million in USD) Electricity 1 68 Railroads 2 3,750 Roads 2 24,253 Seaports 1 25 7% 15% Railroads 14% 57% 8 Total 14 604 Roads Seaports 7% 14% Water Supply Electricity 43% Water Suppy In Planning In Tender 43% Project awarded Source : Compiled from InfraPPP World and the PPP Infrastructure Projects Plan in Indonesia by the Republic of Indonesia 28,700 65 ࣥࢻࢿࢩ – 㐍⾜୰ࡢPPP ࣉࣟࢪ࢙ࢡࢺ 㒊㛛 㟁ຊ 7% ࣉࣟࢪ࢙ࢡࢺ ࣉࣟࢪ࢙ࢡࢺ㈝⏝ ᩘ 㸦100⡿ࢻࣝ㸧 1 68 15% 㕲㐨 Railroads 14% 57% 2 3,750 㐨㊰ 2 24,253 ‴ 1 25 Ỉ㐨 8 604 14% 43% ྜィ 14 Source : Compiled from InfraPPP World and the PPP Infrastructure Projects Plan in Indonesia by the Republic of Indonesia 28,700 66 㐨㊰ Roads ‴ Seaports 7% 㕲㐨 㟁ຊ Electricity 43% Ỉ㐨 Suppy Water Inィ⏬୰ Planning Inධᮐ୰ Tender Ⓨὀ῭awarded Project Indonesia – Risks and Considerations for Foreign Investors • Difficulty in the acquisition of land due to legal impediments to agree on fair compensation for land-owners resulting in endless l legal l di disputes t • Corruption in the country has improved but is still present • Lack of regulatory certainty poses higher investment risks • Greatest ratio of failure to number of PPP projects according to th W the World ld B Bank k PPI dataset d t t • Indonesia’s infrastructure spending is only about 2.3 percent of its gross domestic product product, which is substantially lower than its peers in the region Source : Public Private Partnership (PPP) Investor’s Guide: What private investors should know about investing in Indonesia’s Infrastructure – Coordinating Ministry of Economic Affairs; Source : Indonesia Investments website 67 ࣥࢻࢿࢩ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ ⪃៖㡯 • ᅵᆅྲྀᚓࡢᅔ㞴ᛶࠋᅵᆅᡤ᭷⪅ᑐࡍࡿබṇ࡞⿵ൾ㛵ࡍࡿྠ ពࢆᚓࡿࡢἲⓗ࡞㞀ᐖࡀ࠶ࡾ⤊ࢃࡾࡢぢ࠼࡞࠸ἲⓗ⣮தࢆࡶ ࡓࡽࡍ • ở⫋ࡣᨵၿࡋࡓࡀ౫↛ࡋ࡚Ꮡᅾ • つไࡢ☜ᐃᛶ㊊ࡀᘬࡁ㉳ࡇࡍ㧗࠸ᢞ㈨ࣜࢫࢡ • ୡ⏺㖟⾜ࡢPPIࢹ࣮ࢱࢭࢵࢺࡼࢀࡤPPPࣉࣟࢪ࢙ࢡࢺࡢኻᩋ ௳ᩘẚ⋡ࡀ᭱ࡶ㧗࠸ • ࣥࢻࢿࢩࡢࣥࣇࣛࡢᨭฟࡣᅜෆ⏕⏘ࡢ⣙2.3㸣㐣ࡂ ࡎࡇࡢᆅᇦ࠾ࡅࡿᅜࡢᨭฟࡼࡾࡶ࡞ࡾప࠸ Source : Public Private Partnership (PPP) Investor’s Guide: What private investors should know about investing in Indonesia’s Infrastructure – Coordinating Ministry of Economic Affairs; Source : Indonesia Investments website 68 Philippines - Overview • Ranked the 8th country with the most ideal environment for PPP projects by The 2011 Infrascope • Types of implementation of PPP projects: • Unsolicited mode – Submitted by private sectors – No direct government guarantee, subsidy or equity is provided • Solicited mode – Identified by the government – Government undertaking may be provided 69 ࣇࣜࣆࣥ – ᴫせ • 2011ᖺ∧ Infrascope࠾࠸࡚PPPࣉࣟࢪ࢙ࢡࢺࡢࡓࡵ I f ࠾࠸࡚PPPࣉࣟࢪ ࢡࢺࡢࡓࡵ ࡢ᭱ࡶ⌮ⓗ࡞⎔ቃࢆഛ࠼ࡓ➨㸶␒┠ࡢᅜࣛࣥࢡࡉ ࢀࡓ • PPPࣉࣟࢪ࢙ࢡࢺࡢᐇ㢮ᆺ • 㠀せㄳᆺࡢ㢮ᆺ – Ẹ㛫㒊㛛ࡼࡿᥦ – ┤᥋ࡢᨻᗓಖド㸪⿵ຓ㔠ཪࡣᣢศࡣ࡞࠸ࠋ ┤᥋ࡢᨻᗓಖド ⿵ຓ㔠ཪࡣᣢศࡣ࡞࠸ • せㄳᆺࡢ㢮ᆺ – ᨻᗓࡼࡿ≉ᐃ – ᨻᗓಖドࡀ࡞ࡉࢀࡿࡇࡀ࠶ࡿ 70 Philippines – Recent Development in the Legal framework • Amendments made to the Build-Operate-Transfer Law – Implementing Rules and Regulations • Accelerated processing of PPP projects • Clearer transparency measures in the bidding for and award of projects • Improved governance and accountability mechanisms • Improved guidelines on unsolicited proposals • Reviewed and streamlined processes in evaluation and approval of projects 71 ࣇࣜࣆࣥ – ㏆ᖺࡢἲไᗘࡢⓎᒎ • ᘓタ࣭㐠Ⴀ࣭ㆡΏἲ㸪⾜つ๎ཬࡧつไࡢᨵṇ • PPPࣉࣟࢪ࢙ࢡࢺࡢฎ⌮ࡢಁ㐍 • ࡼࡾ㏱᫂ᗘࡢ㧗࠸ࣉࣟࢪ࢙ࢡࢺࡢධᮐཬࡧⴠᮐࡢ᪉ ἲ • ࢞ࣂࢼࣥࢫཬࡧィᡭἲࡢᨵၿ • 㠀せㄳᆺࡘ࠸࡚ࡢ࢞ࢻࣛࣥࡢᨵၿ • ࣉࣟࢪ࢙ࢡࢺࡢホ౯ཬࡧᢎㄆᡭ⥆ࡢ᳨ウཬࡧྜ⌮ 72 Philippines – Recent Development in the Legal Framework (Cont’) • Executive E ti O Order d No.8 N 8 (2010) • Expanded mandate to cover all modes of PPP Center’s s role: • Outlined PPP Center – Provide advisory services – Facilitate development of PPP projects – Manage the PDMF – Advocate policy reform – Monitor implementation of PPP projects • Proposed amendments: – St Strengthen th the th legal l lb basis i off th the PDMF as a revolving fund 73 ࣇ ࣜࣆࣥ – ㏆ᖺࡢἲไᗘࡢⓎᒎ(⥆) ࣇࣜࣆࣥ • ⤫㡿௧➨8ྕ㸦2010ᖺ㸧 • ࡚ࡢ✀㢮ࡢPPPࢆ࢝ࣂ࣮ࡍࡿᣑࡉࢀࡓ௧ PPPࢭࣥࢱ ࡢᙺࡢᴫせ㸸 • PPPࢭࣥࢱ࣮ࡢᙺࡢᴫせ㸸 – ຓゝࢧ࣮ࣅࢫࢆᥦ౪ – PPPࣉࣟࢪ࢙ࢡࢺࡢⓎᒎࢆಁ㐍 – PDMFࢆ㐠Ⴀ – ᨻ⟇ᨵ㠉ࢆ᥎ዡ – PPPࣉࣟࢪ࢙ࢡࢺࡢ㐍ᒎࢆ┘ど • ᨵṇ㸸 – PDMFࡢࣜ࣎ࣝࣅࣥࢢ PDMFࡢࣜ࣎ࣝࣅࣥࢢ࣭ࣇࣥࢻࡋ࡚ࡢἲⓗᇶ ࣇࣥࢻࡋ࡚ࡢἲⓗᇶ ┙ࢆᙉ 74 Philippines – Recent Development in the Legal Framework (Cont’) • Executive Order No.78 (2012) • Mandated the inclusion of provisions on the use of alternative dispute resolution mechanisms procedure in • Efficient tool and alternative p achieving speedy and impartial justice gg g of court dockets • De-clogging • More inviting climate for private investments: – Less expensive dispute resolution – Less complex dispute resolution – Less time-consuming dispute resolution 75 ࣇࣜࣆࣥ ࣇࣜ ࣥ – ㏆ᖺࡢἲไᗘࡢⓎᒎ(⥆) • ⤫㡿௧➨78ྕ 㸦2012ᖺ㸧 • ADRࡢ⏝㛵ࡍࡿ᮲㡯ࢆໟྵࡉࡏࡿࡇࢆ௧ • ㎿㏿ࡘබᖹ࡞ุࡢ㐩ᡂྥࡅࡓຠ⋡ⓗ࡞ᡭἲ ཬࡧ௦᭰ⓗᡭ⥆ • ุᡤࡢッゴ௳ࡢ㛢ሰࡢゎᾘ Ẹ㛫ᢞ㈨ࢆᣍ⮴ ࡍ ⎔ቃ • Ẹ㛫ᢞ㈨ࢆᣍ⮴ࡋࡸࡍ࠸⎔ቃ – ࡼࡾప㢠࡞⣮தゎỴ – ࡼࡾ༢⣧࡞⣮தゎỴ – ࡼࡾ▷㛫࡛ࡢ⣮தゎỴ 76 Philippines – Current issues with PPP Projects • Delay in closing big-ticket infrastructure projects in the transport PPP pipeline • Primary reason: – Lack of transparency between public and private parties • Decreased interest from potential bidders due to high level of risk from excessive delays in procurement and additional cost resulting from local real property tax • Wavering commitment from private sector investors 77 ࣇࣜࣆࣥ ࣜ – PPPࣉࣟࢪ࢙ࢡࢺࡢ ࢡ ⌧ᅾࡢၥ㢟Ⅼ • 㐍⾜୰ࡢ㍺㏦㛵㐃PPP࠾ࡅࡿ㧗㢠ࡢࣥࣇࣛࣉࣟࢪ࢙ ࢡࢺࡢࡀ㐜ᘏࡋ࡚࠸ࡿ • ࡞⌮⏤ – බⓗᶵ㛵Ẹ㛫㒊㛛ࡢ㛫࡛ࡢ㏱᫂ᛶࡢ㊊ • ㄪ㐩ࡢᴟ➃࡞㐜ᘏཬࡧᆅ᪉ࡢᅛᐃ㈨⏘⛯㉳ᅉࡍࡿ㏣ຍ ㈝⏝ࡢⓎ⏕࠸࠺㧗࠸ࣜࢫࢡࢆཎᅉࡍࡿ₯ᅾⓗධᮐ⪅ ࡢ㛵ᚰࡢῶᑡ • Ẹ㛫㒊㛛ࡢᢞ㈨ᐙࡀཧຍࢆ㌋㌉ 78 Philippines – Eligible PPP Projects • Power Plants • Land Reclamation • Highways/Roads • Solid Waste Management • Railroads & Railways • Tourism Facilities • Ports • Education • Airports • Health Facilities • Transport Systems • Industrial & Tourism Estates • Telecommunications • Markets,, Warehouses,, Slaughterhouses • ICT Systems/Facilities • Agriculture g • Canals, Dams, Irrigation • Housing, Government Buildings • Other Infrastructure/ Development Projects/ Systems • Water Supply Source :The Philippine PPP Program & The Role of the PPP Center – by the PPP Center of the Philippines 79 ࣇࣜࣆࣥ ࣆ – 㐺᱁PPPࣉࣟࢪ࢙ࢡࢺ 㐺᱁ ࣉ ࢪ ࢡ • Ⓨ㟁ᡤ • ᅵᆅ㐀ᡂ • 㧗㏿㐨㊰ / 㐨㊰ • ᅛᙧᗫᲠ≀⟶⌮ • 㕲㐨 • ほගタ • ‴ • ᩍ⫱ • ✵ • ᗣタ • ㍺㏦ࢩࢫࢸ࣒ • ⏘ᴗ㸪ほග㈨⏘ • ㏻ಙ • ᕷሙ㸪ᗜ㸪㣗⫗ゎయฎ⌮ሙ • ICT ࢩࢫࢸ࣒ / タഛ • ఫᏯ㸪ᨻᗓᘓ⠏≀ • ㎰ᴗ • ࡑࡢࣥࣇࣛ㸪㛤Ⓨࣉࣟࢪ࢙ࢡ ࢺ㸪ไᗘ • 㐠Ἑ, ࢲ࣒, ℺₅ • Ỉ㐨 Source :The Philippine PPP Program & The Role of the PPP Center – by the PPP Center of the Philippines 80 Philippines – PPP Projects in the Pipeline Sector Energy gy Airports Number of Cost of Projects Projects (in Million in USD) 1 425 Roads 4 1 977 1,977 Buildings 4 806 15 Airports Railroads Roads Buildings Water Supply 27% 700 2 Total 13% 27% To be decided Railroads 2 Energy 13% 2,100 , 2 Water supply 13% 7% To be decided 20% 1,000 , 40% In planning In tender 40% Project awarded To be decided 7,008 + TBD Source : Compiled from InfraPPP World and PPP Center of the Republic of Philippines 81 ࣇࣜࣆࣥ – 㐍⾜୰ࡢPPPࣉࣟࢪ࢙ࢡࢺ 㒊㛛 ࣉࣟࢪ࢙ ࢡࢺᩘ ࣉࣟࢪ࢙ࢡࢺ㈝⏝ (100⡿ࢻࣝ) ࢚ࢿࣝࢠ࣮ 1 2,100 ✵ 425 2 㐨㊰ 4 1,977 ᘓ⠏≀ 4 806 ィ 15 13% 27% ✵ Airports 㕲㐨 Railroads 㐨㊰ Roads ᘓ⠏≀ Buildings Ỉ㐨 Supply Water 27% 700 2 2 ࢚ࢿࣝࢠ࣮ Energy 13% ᮍ☜ᐃ 㕲㐨 Ỉ㐨 13% 7% ᮍ☜ᐃ 1,000 ᮍỴᐃ 7,008 + ᮍ☜ᐃ Source : Compiled from InfraPPP World and PPP Center of the Republic of Philippines 82 20% 40% 40% Inィ⏬୰ planning Inධᮐ୰ tender Ⓨὀ῭ Project awarded Philippines– Risk for Foreign Investors • High corruption levels due to weak rule of law and justice system • Government’s ineffectiveness in implementing policies pp of laws and regulations g • Inconsistent application • Difficulties in maintaining good relations with local officials • Enforceability of long-term contracts through leadership transitions is a major concern for private sector • Complex legal procedures around constitutional limits on foreign ownership in certain sectors • Security threats Source: A S.W.O.T. Study of Asia’s Emerging Countries (2011); IMF Country Report Article IV Consultation (2013) 83 ࣇࣜࣆࣥ– እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ἲࡢᨭ㓄ཬࡧྖἲไᗘࡀ㈋ᙅ࡛࠶ࡿࡇࡼࡿ㧗࠸ở⫋ Ỉ‽ • ᨻ⟇ᐇ⾜ᑐࡍࡿᨻᗓࡢ㠀ຠ⋡ • ୍㈏ᛶࡢ࡞࠸ἲᚊཬࡧつ๎ࡢ㐺⏝ • ᆅ᪉බົဨⰋዲ࡞㛵ಀ⥔ᣢࡢᅔ㞴ᛶ • ᣦᑟ⪅ࡢኚ㑄ᙳ㡪ࡉࢀ࡞࠸㛗ᮇ㛫ዎ⣙ࡢἲⓗᇳ⾜ྍ⬟ ᛶࡀẸ㛫㒊㛛ࡗ࡚ࡢࡁ࡞㛵ᚰ • ≉ᐃ㒊㛛࠾ࡅࡿእᅜேᡤ᭷ẚ⋡ࡢ᠇ἲୖࡢไ㝈㉳ᅉ ࡍࡿ」㞧࡞ἲⓗᡭ⥆ • Ᏻಖ㞀ୖࡢ⬣ጾ Source: A S.W.O.T. Study of Asia’s Emerging Countries (2011); IMF Country Report Article IV Consultation (2013) 84 Thailand – Overview • According to the Global Competitiveness Report 20112012, Thailand’s infrastructure is ranked 42nd out of 142 countries indicating that infrastructure is developing developing, but that there remains room for improvement. • Due to the recent enactment of the new PPP law law, PPP projects are expected to play an important role in implementing the newly announced 5.5 trillion baht (~20% of Thailand’s GDP, ~USD 170 billion) government investment plan in infrastructure over the next seven years (2013-2020) (2013 2020). • PDF will be established by the Ministry of Finance in the new PPP law to provide seed money for new projects. Source :CLC Asia; Ministry of Finance; Global Competitiveness Report 2011-2012 85 ࢱ – ᴫせ • ୡ⏺➇தຊ࣏࣮ࣞࢺ㸦2011-2012㸧ࡼࢀࡤ㸪 ࢱࡢ ࣥࣇࣛࡣ㸪142ᅜ୰➨42⨨ࡋ㸪ࡇࢀࡣࣥࣇࣛࡀ Ⓨ㐩ࡋ࡚ࡁ࡚ࡣ࠸ࡿࡶࡢࡢᨵၿࡢవᆅࡀṧࡗ࡚࠸ࡿࡇ ࢆ♧ࡋ࡚࠸ࡿ • ᭱㏆ࡢ᪂PPPἲࡢไᐃࡼࡾ㸪PPPࣉࣟࢪ࢙ࢡࢺࡣ᪂ࡓ Ⓨ⾲ࡉࢀࡓ 5.5ࣂ࣮ࢶ㸦ࢱࡢGDPࡢ20%㸪1700൨ ⡿ࢻࣝ㸧ཬࡪྥࡇ࠺7ᖺ㛫㸦2013-2020㸧 ࡢࣥࣇࣛ ࡢᨻᗓᢞ㈨ࣉࣟࢪ ࢡࢺࢆᐇࡍࡿࡢ㔜せ࡞ᙺࢆᢸ ࡢᨻᗓᢞ㈨ࣉࣟࢪ࢙ࢡࢺࢆᐇࡍࡿࡢ㔜せ࡞ᙺࢆᢸ ࠺ࡇࡀᮇᚅࡉࢀ࡚࠸ࡿ • ᪂PPPἲ࡛ࡣ᪂ࣉࣟࢪ࢙ࢡࢺࡢ㈨㔠ࢆ౪⤥ࡍࡿࡓࡵ㈈ ົ┬ PDF ࡀタ⨨ࡉࢀࡿ Source :CLC Asia; Ministry of Finance; Global Competitiveness Report 2011-2012 86 Thailand – Recent Development in the Legal Framework • Thailand has passed the new PPP law (effective from 4 April 2013 onwards), Private Investment in State U d t ki A Undertaking Actt B.E. B E 2556, 2556 replacing l i the th 1992 ACT ACT, Private Investment in State Undertaking Act B.E. 2535 • Provides a PPP “Master Master Plan” Plan • Sets out clearer procedure for private investors • Streamlines approval process • Encourages large-scale PPP projects Source :CLC Asia; Ministry of Finance; infrastructure journal 87 ࢱ –– ㏆ᖺࡢἲไᗘࡢⓎᒎ ㏆ᖺ ἲไᗘ Ⓨᒎ • ࢱ࡛ࡣ᪂PPPἲ㸪ᅜᐙᴗ࠾ࡅࡿẸ㛫ᢞ㈨ἲB.E. 2556ࡀᡂ❧㸦2013ᖺ4᭶ࡼࡾ⾜㸧ࡋ㸪1992ᖺἲࡢᅜᐙ ᴗ࠾ࡅࡿẸ㛫ᢞ㈨ἲB E 2535ࡽ௦⨨ࡉࢀࡓ ᴗ࠾ࡅࡿẸ㛫ᢞ㈨ἲB.E. • PPPࠕᇶᮏィ⏬ࠖࢆᐃࡵࡿ • Ẹ㛫ᢞ㈨ᐙࡗ࡚ࡼࡾ᫂☜࡞ᡭ⥆ࢆつᐃࡍࡿ • ᢎㄆᡭ⥆ࢆຠ⋡ࡍࡿ • つᶍPPPࣉࣟࢪ࢙ࢡࢺࢆዡບࡍࡿ Source :CLC Asia; Ministry of Finance; infrastructure journal 88 Thailand – Recent Development in the Legal Framework (Cont’) • The new PPP law promotes public private partnership by providing: • A comprehensive institutional and regulatory framework • Methodology for risk allocation and/or project evaluation • Value for money analysis • Contract management • Central agency that oversees investments Source :CLC Asia; Ministry of Finance 89 ࢱ –㏆ᖺࡢἲไᗘࡢⓎᒎ(⥆) ㏆ᖺࡢἲไᗘࡢⓎᒎ(⥆) • ᪂PPPἲࡣୗグࡢෆᐜࢆつᐃࡍࡿࡇࡼࡾᐁẸ ࣃ࣮ࢺࢼ࣮ࢩࢵࣉ㸦PPP㸧ࢆಁ㐍ࡋ࡚࠸ࡿ • ໟᣓⓗ࡞ᶵ㛵ཬࡧつไࡢᯟ⤌ࡳ • ࣜࢫࢡศ㓄ཬࡧ / ཪࡣᴗホ౯ࡢࡓࡵࡢ᪉ἲ • ㈝⏝ᑐຠᯝࡢศᯒ • ዎ⣙⟶⌮ • ᢞ㈨ࢆ┘╩ࡍࡿ୰ኸᶵ㛵 Source :CLC Asia; Ministry of Finance 90 Thailand – Breakdown of 55.55 tr Baht Government Spending plans • On budget items include: small road projects and normall maintenance i t sourced d from general revenue • Connectivity infrastructure predominantly includes: high speed rail, mass transit and p roads 7% On budget investment 32% Connectivity Infrastructure 61% Water Management • Flood Management Schemes Source :CLC Asia; Ministry of Finance; Credit Suisse 91 ࢱ – 5.5ࣂ 5 5ࣂ࣮ࢶᨻᗓᨭฟᴗࡢ ࢶᨻᗓᨭฟᴗࡢ ᴫせ • ண⟬ෆࡢ㡯┠ࡣ௨ୗࡢࡶࡢࢆ ྵࡴ: ᑠつᶍ㐨㊰ࣉࣟࢪ࢙ࢡࢺ ཬࡧ ⯡ṓධࢆ㈈※ࡍࡿ㏻ᖖ ཬࡧ୍⯡ṓධࢆ㈈※ࡍࡿ㏻ᖖ ࡢ⥔ᣢ⟶⌮ • ㏻ࣥࣇࣛࡢ࡞ࡶࡢࡣ௨ ୗࡢࡶࡢ࡛࠶ࡿ㸸㧗㏿㕲㐨㸪 බඹ㏻ཬࡧ㐨㊰ • ὥỈ⟶⌮ࢫ࣮࣒࢟ Source :CLC Asia; Ministry of Finance; Credit Suisse 92 7% ண⟬ෆᢞ㈨ 32% ㏻ࣥࣇࣛ 61% Ỉ⟶⌮ Thailand – PPP Projects in the pipeline • Projects implemented in the past under the 1992 ACT were mostly in the transport sector, e.g. Sri-Rat Expressway (BTO), Donmuang Tollway (BTO), (BTO) Bangkok Skytrain (BOT), (BOT) Mass Rapid Transit-Blue Line (BTO), Mass Rapid Transit-Purple Line (PPP Gross Costs), Catering and Ground Services in the S Suvarnabhumi bh i Airport Ai t (BTO) • Forthcoming projects which are under preparation for PPP are: • Mass Rapid Transit – (Green and Blue Lines extensions) • Inter-city Bang Pra In – Nakhon Ratchasima Motorway • Bang Yai – Kanchanaburi Motorway • Coastal Port at Lam Cha-Bang, etc. Source :CLC Asia; ERIA; Ministry of Finance; Credit Suisse 93 ࢱ – 㐍⾜୰ࡢPPPࣉࣟࢪ࢙ࢡࢺ • 㐣ཤ1992ᖺἲୗ࡛ᐇࡉࢀࡓࣉࣟࢪ 㐣ཤ1992ᖺἲୗ࡛ᐇࡉࢀࡓࣉࣟࢪ࢙ࢡࢺࡣ㒊ศࡀ ࢡࢺࡣ㒊ศࡀ ㏻㒊㛛࠾ࡅࡿࣉࣟࢪ࢙ࢡࢺ • 㸸Sri 㸸Sri-Rat Rat 㧗㏿㐨㊰㸦BTO㸧, 㧗㏿㐨㊰㸦BTO㸧 Donmuang ᭷ᩱ㐨㊰㸦BTO㸧, ᭷ᩱ㐨㊰㸦BTO㸧 ࣂ ࣥࢥࢡ࣭ࢫ࢝ࢺࣞࣥ㸦BOT㸧, බඹ㧗㏿㏻-ࣈ࣮ࣝࣛࣥ 㸦BTO㸧, බඹ㧗㏿㏻-ࣃ࣮ࣉࣝࣛࣥ㸦PPP Gross Costs㸧, ࢫ ࣡ࣥࢼࣉ ࣒ᅜ㝿✵ ࠾ࡅࡿࢣ ࢱࣜࣥࢢཬࡧᆅୖࢧ ࣅࢫ ࣡ࣥࢼࣉ࣮࣒ᅜ㝿✵ ࠾ࡅࡿࢣ࣮ࢱࣜࣥࢢཬࡧᆅୖࢧ࣮ࣅࢫ 㸦BT㸧 • ᚋ㐙⾜ࡉࢀࡿணᐃࡢ‽ഛ୰ࡢPPPࣉࣟࢪ࢙ࢡࢺ • බඹ㏻ᶵ㛵 –㸦ࢢ࣮ࣜࣥཬࡧࣈ࣮ࣝࣛࣥࡢᣑᙇ㸧 • 㒔ᕷ㛫ࣂ࣮ࣥࣉࣛࣥ – ࢼࢥࣥࣛࢳࣕࢩ࣐⮬ື㌴㐨㊰ • ࣂࣥࣖ – ࣮࢞ࣥࢳࣕࢼࣈ࣮ࣜ⮬ື㌴㐨㊰ • ࣒ࣞࢳࣕࣂࣥ࠾ࡅࡿ ‴ᴗົ➼ Source : CLC Asia; ERIA; Ministry of Finance; Credit Suisse 94 Thailand – Likelihood of government infrastructure projects being implemented Source :CLC Asia (2013); Ministry of Finance (2013); Credit Suisse (2013) 95 ࢱ – ᨻᗓࣥࣇࣛᴗࡢᐇྍ⬟ᛶ ྍ⬟ᛶ ‴ᣑᙇ 㻔㻟㻟㼎㼚㻕 ྍ⬟ᛶ䛜㧗䛔 䝞䞁䝁䜽බඹ㏻ᶵ㛵㻔㻠㻠㻡㼎㼚㻕 ᑠつᶍỈ㐨ᴗ 㻔㻝㻜㻜㼎㼚㻕 㧗㏿㐨㊰ 㻔㻞㻠㻟㼎㼚㻕 」⥺ᕤ㻔㻝㻟㻥㼎㼚㻕 ྍ⬟ᛶ䛜ప䛔 せ䛺Ỉ䜲䞁䝣䝷㻔㻞㻟㻜㼎㼚㻕 㼇䝎䝮 ὥỈ≌ไ➼㼉 㼇䝎䝮㻘㻌ὥỈ≌ไ➼㼉 㧗㏿ิ㌴ 㻔㻥㻣㻜㼎㼚㻕 Source :CLC Asia (2013); Ministry of Finance (2013); Credit Suisse (2013) 96 ண⟬ぢ✚䜒䜚 㻔㼀㻴㻮㻌㼎㼚㻕 Thailand – Risk for Foreign Investors • The new PPP unit may become a incompetent gatekeeper for infrastructure investments because of potential t ti l iinternal t l power plays l • Long time for the government to provide detailed investment guidelines for investors • Lack of institutional capacity to implement reforms • Political instability • Potential negative impact on current account balance from infrastructure spending Source: CLC Asia; Credit Suisse 97 ࢱ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ᪂PPPࣘࢽࢵࢺࡣ₯ᅾⓗ࡞ᅜෆ㜚தࡢࡓࡵࣥࣇࣛᢞ ㈨ࡢ↓⬟࡞㛛␒࡞ࡿྍ⬟ᛶࡀ࠶ࡿ • ᨻᗓࡀᢞ㈨ᐙヲ⣽࡞ᢞ㈨࢞ࢻࣛࣥࢆᥦ౪ࡍࡿࡓࡵ ࡿ㛗࠸㛫 • ᨵ㠉ࢆᐇ⾜ࡍࡿࡓࡵࡢไᗘ㠃࡛ࡢ㊊ • ᨻࡢᏳᐃ • ࣥࣇࣛᨭฟࡼࡿ⌧ᅾࡢィṧ㧗ᑐࡍࡿ₯ᅾⓗ࡞ᾘ ᴟⓗᙳ㡪 Source: CLC Asia; Credit Suisse 98 Malaysia – Overview • 10th Malaysia Plan (2011 – 2015) • The Government laid out 52 projects with an estimated value of RM62.7 billion (~USD 19.1 billion) • The private sector is encouraged to invest in development projects j t th through h PPP • A Facilitation Fund was created with allocation of RM20 billion (~USD ( USD 6.4 6 4 billion) – An allocation of RM5 billion (~USD 1.6 billion) is set aside to finance land acquisition q for highway g yp projects j implemented via PPP approach Source: ‘Tenth Malaysia Plan’ - The Economic Planning Unit Prime Minister’s Department Putrajaya 2010 99 ࣐࣮ࣞࢩ – ᴫせ • ➨10ḟ࣐࣮ࣞࢩ ィ⏬㸦2011 – 2015㸧 • ᨻᗓࡣ㸪ぢ✚㢠ࢆ627 ൨RM㸦࣐࣮ࣞࢩ࣭ࣜࣥࢠࢵࢺ㸧 㸦191൨ ⡿ࢻࣝ㸧 ࡍࡿ52ᴗࢆィ⏬ࡋࡓ • Ẹ㛫㒊㛛ࡣPPPࢆ㏻ࡌ࡚Ⓨᒎᴗᢞ㈨ࡍࡿࡇࢆዡບࡉ ࢀࡿ • ಁ㐍ࣇࣥࢻࡀ200൨RM㸦64൨⡿ࢻࣝ㸧ࡢᙜ࡚ࢆཷࡅ࡚ タࡉࢀࡓ – ᙜ࡚50൨RM㸦16൨⡿ࢻࣝ㸧ࡣPPPࣉ࣮ࣟࢳࢆ㏻ࡌ࡚ᐇ ࡉࢀࡿ㧗㏿ᴗࡢࡓࡵࡢᅵᆅࡢྲྀᚓ㈨㔠ࡋ࡚☜ಖࡉࢀ࡚࠸ ࡿ Source: ‘Tenth Malaysia Plan’ - The Economic Planning Unit Prime Minister’s Department Putrajaya 2010 100 Malaysia – Governmental Involvement • Public Private Partnership Unit “3PU”: • Accountable to the Prime Minister • Also known as Unit Kejasama Awan Swasta (UKAS) • Core agency with the responsibility to coordinate the Privatisation and the PPP projects: – Re-affirms its position as a central agency within the country’s administrative framework and a reflection of strong political commitment to the PPP program – Responsible for promoting promoting, planning planning, coordinating coordinating, controlling, monitoring, facilitating and ensuring the effectiveness of PPP projects Source: ‘Tenth Malaysia Plan’ - The Economic Planning Unit Prime Minister’s Department Putrajaya 2010 101 ࣐࣮ࣞࢩ – ᨻᗓࡢ㛵 • ᐁẸࣃ࣮ࢺࢼ࣮ࢩࢵࣉ㸦PPP㸧ࣘࢽࢵࢺ – 3PU • ⥲⌮⮧ᑐࡋ࡚ㄝ᫂㈐௵࠶ࡾ • ⤒῭ィ⏬ࣘࢽࢵࢺ㸦Unit Kejasama Awan Swasta㸧 㸦UKAS㸧ࡋ࡚ࡶ▱ࡽࢀ࡚࠸ࡿ • ẸႠཬࡧPPPࣉࣟࢪ࢙ࢡࢺࢆㄪᩚࡍࡿ㈐௵࠶ࡿ୰ᚰᶵ㛵 ࣉ – ᅜࡢ⾜ᨻᯟ⤌ࡳࡢ୰࡛ࡢ୰ᚰᶵ㛵ࡋ࡚ࡢ⨨࡙ࡅཬࡧPPP ࣉࣟࢢ࣒ࣛࡢᙉຊ࡞ᨻⓗ㛵ࢆ☜ㄆࡍࡿ – PPPᴗࡢಁ㐍㸪ィ⏬㸪ㄪᩚ㸪⟶⌮㸪ᰝᐃ㸪ཬࡧຠᯝ ࡢ☜ಖᑐࡍࡿ㈐௵ Source: ‘Tenth Malaysia Plan’ - The Economic Planning Unit Prime Minister’s Department Putrajaya 2010 102 Malaysia – Foreign Ownership for land and buildings • There is no restriction for foreigners to own land and b ildi buildings exceptt ffor th the ffollowing ll i categories: t i • Malay Reserve Land • Real estate valued less than RM500,000 (~USD 161,000) per unit • Low L costt houses h • Real estate reserved by state authority for bumiputera interest in any development project Source: PPP Comparative Table, Economic Research Institute for ASEAN and East Asia (ERIA), February 2013 103 ࣐࣮ࣞࢩ – ᅵᆅ࣭ᘓ⠏≀ࡢእᅜ㈨ᮏ • ୗグࡢ࢝ࢸࢦ࣮ࣜࢆ㝖ࡁእᅜேࡀᅵᆅཬࡧᘓ⠏≀ࢆᡤ᭷ ࡍࡿࡢไ㝈ࡣ࡞࠸ • ࣐࣮ࣞಖ␃ᆅ ༢ , 㸦161,000⡿ࢻࣝ㸧 㸦 , ⡿ࢻࣝ㸧 ᮍ‶ࡢ౯್ࡢື⏘ • 1༢500,000RM • ప౯᱁ࡢᐙᒇ • ࠶ࡽࡺࡿⓎᒎᴗ࠾࠸࡚ࣈ࣑ࣉࢺࣛࡢ┈ࡢࡓࡵᕞᙜ ᒁࡼࡾಖ␃࣭ಖㆤࡉࢀ࡚࠸ࡿື⏘ Source: PPP Comparative Table, Economic Research Institute for ASEAN and East Asia (ERIA), February 2013 104 Malaysia – Identified PPP Projects for the “10th Malaysia Plan” • Key themes of the current “10th Malaysia Plan” center around: • Improvement of basic infrastructure • Upg Upgrading ad g o of pub public c transportation a spo a o in G Greater ea e Kuala ua a Lumpur u pu Roads • West Coast Expressway • Guthrie-Damansara Expressway • Sungai Juru Expressway • Paroi-Senawang-KLIA Expressway • Ampang-Cheras-Pandan Elevated Highway Transport • Mass Rapid Transit in Greater Kuala Lumpur • East Coast Rail Route (currently under feasibility study) • Integrated I t t d Transport T t Terminal T i l in i Gombak, G b k Selangor S l • Two coal electricity generation plants • 300-megawatt combined-cycle gas power plant in Kimanis, Sabah • Liquefied natural gas regasification in Malacca Power Ed cation Education Health • Five Universiti Teknologi MARA (UiTM) branch campuses • Education hub in Pagoh, Johor • Women and Children’s Hospital • International Islamic University Malaysia Teaching Hospital Source: ERIA PPP Country Profile Report, dated 1 March 2013 105 ࣐ࣞ ࢩ – ࠕ➨10ḟ࣐ࣞ ࣐࣮ࣞࢩ ࠕ➨10ḟ࣐࣮ࣞࢩィ ࢩィ ⏬࡛ࠖ≉ᐃࡉࢀࡓPPPࣉࣟࢪ࢙ࢡࢺ • ➨10ḟ࣐࣮ࣞࢩィ⏬ࡢ㔜せࢸ࣮࣐ࡣ௨ୗࡢ㡯ࢆ୰ᚰࡍࡿ • ᇶ♏ⓗࣥࣇࣛࡢᨵၿ • ࢡࣛࣝࣥࣉ ࢡࣛࣝࣥࣉ࣮ࣝ㤳㒔ᅪࡢබඹ㏻ᶵ㛵ࡢࢵࣉࢢ࣮ࣞࢻ ࣝ㤳㒔ᅪࡢබඹ㏻ᶵ㛵ࡢࢵࣉࢢࣞ ࢻ 㐨㊰ • • • • • ㏻ᶵ㛵 • 䜽䜰䝷䝹䞁䝥䞊䝹㤳㒔ᅪ䛻䛚䛡䜛බඹ㧗㏿㏻ • ᮾᾏᓊ䛾㕲㐨䝹䞊䝖䠄⌧ᅾ䠈ᐇ⌧ྍ⬟ᛶ䜢ㄪᰝ୰䠅 • 䝂䞁䝞䝑䜽䠈䝉䝷䞁䝂䞊䝹䛻䛚䛡䜛⥲ྜ㏻䝍䞊䝭䝘䝹㥐 㟁ຊ • 㻞䛛ᡤ䛾▼ⅣⓎ㟁ᡤ • 㻷㼕㼙㼍㼚㼕㼟䠈㻿㼍㼎㼍㼔䛻䛚䛡䜛㻟㻜㻜䝯䜺䝽䝑䝖䛾」ྜ䝃䜲䜽䝹䜺䝇ⅆຊⓎ㟁ᡤ • 䝬䝷䝑䜹䛻䛚䛡䜛ᾮኳ↛䜺䝇䠄㻸㻺㻳䠅䛾䜺䝇 ᩍ⫱ • 䝬䝷ᕤ⛉Ꮫ䛾㻡䛴䛾䝤䝷䞁䝏䜻䝱䞁䝟䝇㻔㼁㼕㼀㻹㻕㻌 • 䝆䝵䝩䞊䝹ᕞ䛾㻼㼍㼓㼛㼔䛻䛚䛡䜛ᩍ⫱ᣐⅬ • ዪᛶཬ䜃Ꮚ౪ྥ䛡䛾㝔 • 䝬䝺䞊䝅䜰ᅜ㝿䜲䝇䝷䝮Ꮫᒓ㝔 ᗣ Source: ERIA PPP Country Profile Report, dated 1 March 2013 すᾏᓊ㧗㏿㐨㊰ 㻳㼡㼠㼔㼞㼕㼑㻙㻰㼍㼙㼍㼚㼟㼍㼞㼍㧗㏿㐨㊰ 㼓 㧗㏿㐨㊰ 㻿㼡㼚㼓㼍㼕㻌㻶㼡㼞㼡㧗㏿㐨㊰ 㻼㼍㼞㼛㼕㻙㻿㼑㼚㼍㼣㼍㼚㼓㻙㻷㻸㻵㻭㧗㏿㐨㊰ 㻭㼙㼜㼍㼚㼓㻙㻯㼔㼑㼞㼍㼟㻙㻼㼍㼚㼐㼍㼚㧗ᯫᖿ⥺㐨㊰ 106 Malaysia – PPP Projects in the Pipeline Sector Number of Cost of Projects Projects (in Million in USD) Energy 1 450 Railroads 2 16,080 Roads 1 2,000 Buildings 3 8 605 8,605 Total 7 27,135 14% Energy 43% Railroads 29% Roads Buildings 14% Source : Compiled from PWC 107 ࣐࣮ࣞࢩ ࣐ࣞ ࢩ – 㐍⾜୰ࡢPPPࣉࣟࢪ࢙ 㐍⾜୰ࡢPPPࣉࣟࢪ ࢡࢺ 㒊㛛 ࣉࣟࢪ࢙ ࢡࢺᩘ ࣉࣟࢪ࢙ࢡࢺ㈝⏝ (ⓒ⡿ࢻࣝ) ࢚ࢿࣝࢠ࣮ 1 450 㕲㐨 2 16,080 㐨㊰ 1 2,000 ᘓ⠏≀ 3 8 605 8,605 ྜィ 7 27,135 Source : Compiled from PWC 108 14% ࢚ࢿࣝࢠ࣮ Energy 43% 㕲㐨 Railroads 29% 㐨㊰ Roads ᘓ⠏≀ Buildings 14% Malaysia – Risks for Foreign Investors • Second highest ratio of failure to number of projects according to the World Bank PPI dataset • Land acquisition risk is significant • Political instability causing delays of project approvals and permits • Interest rate volatility • Operation risk due to improper measurement, ill planned schedule and low operation efficiency resulting in cost overruns Source : International Journal of Sustainable Construction Engineering & Technology Vol 2, Issue 2, December 2011, Risk Allocation in Public-Private Partnership (PPP) Project: A Review on Risk Factors, Nur Alkaf Abd Karim 109 ࣐࣮ࣞࢩ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ୡ⏺㖟⾜PPIࢹ࣮ࢱࢭࢵࢺࡼࢀࡤࣉࣟࢪ࢙ࢡࢺࡢኻ ᩋ௳ᩘẚ⋡ࡀ2␒┠㧗࠸ • ᅵᆅྲྀᚓࣜࢫࢡࡀ㔜 • ࣉࣟࢪ࢙ࢡࢺࡢᢎㄆཬࡧチྍࡢ㐜ᘏࢆᘬࡁ㉳ࡇࡍᨻ ⓗᏳᐃ • 㔠ࡢ㧗ୗ • ண⟬㉸㐣ࢆᘬࡁ㉳ࡇࡍ㐺ษ࡞ 㔞㸪ィ⏬ᛶࡢ࡞࠸ ࢫࢣࢪࣗ ࣝཬࡧప࠸సᴗຠ⋡ࡼࡿᴗົࣜࢫࢡ ࢫࢣࢪ࣮ࣗࣝཬࡧప࠸సᴗຠ⋡ࡼࡿᴗົࣜࢫࢡ Source : International Journal of Sustainable Construction Engineering & Technology Vol 2, Issue 2, December 2011, Risk Allocation in Public-Private Partnership (PPP) Project: A Review on Risk Factors, Nur Alkaf Abd Karim 110 Vietnam – Overview • The Vietnamese economy has been growing steadily since 1988 • Its GDP growth rate has been in the range 5% to 9.5% per annum despite various fluctuations of the international economy such as the Asian Financial Crisis and the Lehman Shock • According to the Ministry of Planning and Investment (MPI), the estimated necessary capital for i f t t infrastructure construction t ti in i Vietnam Vi t b by 2020 iis calculated as USD 400 billion, of which half is planned to be mobilised from the private sector 111 ࣋ࢺࢼ࣒ – ᴫせ • ࣋ࢺࢼ࣒⤒῭ࡣ1988ᖺ௨㝆╔ᐇᡂ㛗ࢆᣢ⥆ • ࢪ㏻㈌༴ᶵࡸࣜ ࢪ㏻㈌༴ᶵࡸ࣮࣐ࣜࣥࢩࣙࢵࢡࡢࡼ࠺࡞ᅜ㝿 ࣐ࣥࢩࣙࢵࢡࡢࡼ࠺࡞ᅜ㝿 ⤒῭ࡢኚືࡶࢃࡽࡎ㸪࣋ࢺࢼ࣒ࡢGDPᡂ 㛗⋡ࡣᖺ㛫5㸣ࡽ9.5㸣࡞ࡗ࡚࠸ࡿ • ィ⏬࣭ᢞ㈨┬㸦MPI㸧ࡼࡿ2020ᖺࡲ࡛ࡢ࣋ࢺࢼ ࣒ࡢࣥࣇࣛᵓ⠏ᚲせ࡞㈨㔠ࡢぢ㎸㢠ࡣ4⡿ࢻࣝ ⟬ᐃࡉࢀ࡚࠾ࡾ㸪ࡑࡢ༙ศࡀẸ㛫㒊㛛ࡽᣐฟࡉ ࢀࡿࡇࡀィ⏬ࡉࢀ࡚࠸ࡿ 112 Vietnam – Regulatory Framework • Ministry of Planning and Investment • Coordinating ministry • Gathers opinions from relevant authorities and reporting to the Prime Minister for approval • Advisor for investors preparing a PPP project • Steering Committee on investments in the forms of PPP • Assist in formulating and commencing projects 113 ࣋ࢺࢼ࣒ – つไࡢᯟ⤌ࡳ • ィ⏬࣭ᢞ㈨┬ • ㄪᩚ┬ᗇ • 㛵ಀᐁᗇࡽࡢពぢ⫈ྲྀཬࡧᢎㄆࢆᚓࡿࡓࡵ㤳┦ ࡢሗ࿌ • PPPࣉࣟࢪ࢙ࢡࢺࢆ‽ഛࡋ࡚࠸ࡿᢞ㈨ᐙྥࡅࡢ ࢻࣂࢨ ࢻࣂࢨ࣮ • PPPࡼࡿᢞ㈨㛵ࡍࡿ㐠Ⴀጤဨ • ࣉࣟࢪ࢙ࢡࢺࡢ❧ୖࡆཬࡧ㛤ጞࡢᨭ 114 Vietnam – Government Support • A state capital of up to 30% of the total investment capital of the PPP projects can be granted • On a case to case basis, foreign exchange may be guaranteed • Compared to a normal Corporate Income Tax rate of 25%, most PPP projects are given a 10% Corporate I Income Tax T for f 15 years or project j d duration, i exemption i for first 4 years, and half reduction for 5 to 9 years • M Mostt PPP projects j t are exemptt from f Land L d use fee f for f project duration Sources – Vietnam’s Country Profile by ERIA 115 ࣋ࢺࢼ࣒ – ᨻᗓᨭ • PPPࣉࣟࢪ࢙ࢡࢺࡢ⥲ᢞ㈨㈨ᮏࡢ࠺ࡕୖ㝈30㸣ࡲ࡛ࡢᅜ ᐙ㈨ᮏࡼࡿຓ ࢣ ࢫ ࣂ ࢣ ࢫ࡛እᅜⅭ᭰ࡢಖドࡢྍ⬟ᛶ • ࢣ࣮ࢫ࣭ࣂ࣭ࢣ࣮ࢫ࡛እᅜⅭ᭰ࡢಖドࡢྍ⬟ᛶ • ㏻ᖖࡢἲே⛯ࡀ25㸣࡛࠶ࡿࡢᑐࡋ࡚㸪㒊ศࡢPPPࣉ ࣟࢪ࢙ࢡࢺ࡛ࡣ15ᖺ㛫ཪࡣࣉࣟࢪ࢙ࢡࢺᮇ㛫୰ࡢἲே⛯ ࡣ10㸣㸪᭱ึࡢ4ᖺ㛫ࡣච⛯㸪5ᖺ┠ࡽ9ᖺ┠ࡢ⛯⋡ࡣ༙ ῶ • 㒊ศࡢPPPࣉࣟࢪ࢙ࢡࢺ࠾࠸࡚ࣉࣟࢪ࢙ࢡࢺᮇ㛫୰ ࡢᅵᆅ⏝ᩱࡣච㝖 Sources – Vietnam’s Country Profile by ERIA 116 Vietnam – Encouraged Sectors • The PPP framework specifies the following sectors for pilot investment: • Roads, road bridges and tunnels and ferry landings for road traffic • Railways, railway bridges and railway tunnels • Traffic T ffi in i urban b area • Airports, seaports and river ports • Clean water supply pp y systems y • Power plants • Health (hospitals) • Environment (waste treatment plants) • Other projects for infrastructure development and/or provision of public services as decided by the Prime Minister Sources – Vietnam’s Country Profile by ERIA 117 ࣋ࢺࢼ࣒ – ᢞ㈨ዡບ㒊㛛 • PPPࡢᯟ⤌ࡳ࠾࠸࡚௨ୗࡢ㒊㛛ࡀᢞ㈨ዡບ㒊㛛ࡋ࡚ ᣦᐃࡉࢀ࡚࠸ࡿࠋ • 㐨㊰㸪ᶫ㸪ࢺࣥࢿࣝ㸪㐨㊰㏻⧅ࡀࡿࣇ࢙࣮ࣜⓎ╔ሙ • 㕲㐨㸪㕲ᶫ㸪㕲㐨⏝ࢺࣥࢿࣝ • ᕷ⾤ᆅ࠾ࡅࡿ㏻ • ✵ 㸪 ‴㸪Ἑ ✵ ‴ Ἑ • ίỈ౪⤥ࢩࢫࢸ࣒ • Ⓨ㟁タഛ • ᗣ㸦㝔㸧 • ⎔ቃ㸦ࡈࡳฎ⌮ሙ㸧 • 㤳┦ࡼࡾỴᐃࡉࢀࡓ 㤳┦ࡼࡾỴᐃࡉࢀࡓࣥࣇࣛࡢⓎᒎཬࡧ ࣛ Ⓨᒎཬࡧ / ཪࡣබඹࢧ࣮ࣅࢫࡢ ཪࡣබඹࢧ ࣅ ࡓࡵࡢࡢࣉࣟࢪ࢙ࢡࢺ Sources – Vietnam’s Country Profile by ERIA 118 Vietnam – The Dau Giay – Phan Thiet Expressway • First PPP in Vietnam’s pipeline to be released to the international market • To be funded by a combination of state and private sector finances • Potential model to be applied to future infrastructure projects p j in Vietnam if p proven successful • Project costs are approximately USD$750 million 119 ࣋ࢺࢼ࣒ – ࢨ࢘ࢨ ࢨ࢘ࢨ㹼ࣇࣥࢸ ࣇࣥࢸ ࢚ࢵࢺ㧗㏿㐨㊰ • ࣋ࢺࢼ࣒࡛㐍⾜୰ࡢᅜ㝿ᕷሙ㛤ᨺࡉࢀࡓ᭱ึࡢPPP ᨻᗓ㒊㛛 Ẹ㛫㒊㛛 ࡼࡿ㈨㔠౪⤥ • ᨻᗓ㒊㛛Ẹ㛫㒊㛛ࡼࡿ㈨㔠౪⤥ • ᡂຌࡀド᫂ࡉࢀࢀࡤᑗ᮶ࡢࣥࣇࣛ㛵ࡍࡿࣉࣟࢪ࢙ࢡ ࢺ㐺⏝ࡉࢀࡿྍ⬟ᛶࡢ࠶ࡿࣔࢹࣝ࡞ࡿࠋ • ࣉࣟࢪ࢙ࢡࢺࡢ㈝⏝ࡣ⣙7൨5000⡿ࢻࣝ 120 Vietnam – PPP Projects in the Pipeline Sector Number of Cost of Projects Projects (in Million in USD) Airports 1 1,400 Energy 2 --- Railroads 2 --- R d Roads 8 8 718 8,718 Seaports 3 57 % 17% 8% 4% 8% 17% 13% Railroads Seaports B ildi Buildings 33% --- 4 Ai Airports t Roads 95 Water Energy Water Supply ----- Buildings 4 350 T t l Total 24 10 620 + unknown 10,620 k Source : A Star in ascendant? PPP Opportunities in Vietnam – by the AshurstInsight 121 ࣋ࢺࢼ࣒ – 㐍⾜୰ࡢPPPࣉࣟࢪ࢙ࢡࢺ ࣉࣟࢪ࢙ ࢡࢺᩘ ࣉࣟࢪ࢙ࢡࢺ㈝⏝ ࣉ ࢪ ㈝ (ⓒ⡿ࢻࣝ) ✵ 1 1,400 ࢚ࢿࣝࢠ࣮ 2 --- 㕲㐨 2 --- 㐨㊰ 8 8,718 ‴ 3 57 㒊㛛 17% % 8% 8% 17% 13% 95 Ỉ --- 4 ----- ᘓ⠏≀ 4 350 ྜィ 24 10,620 + ᫂ศ Source : A Star in ascendant? PPP Opportunities in Vietnam – by the AshurstInsight 122 4% 33% ࢚ࢿࣝࢠ࣮ Energy ✵ t Airports Ai 㕲㐨 Railroads ‴ Seaports 㐨㊰ Roads Bᘓ⠏≀ ildi Buildings Ỉ㐨 Supply Water Vietnam – Risks for Foreign Investors • Only foreign invested organisations established under the laws of Vietnam are entitled to be issued a Certificate of Land Use Right and a Certificate of Ownership of Construction Works: • Foreign lenders must mortgage the land use right through agents in Vietnam • The enforceability of agency arrangements has yet to be tested in the Vietnamese Courts • The PPP bidding and negotiation processes are unpredictable and lengthy • Acquiring land rights is a lengthy process that lacks transparency Sources – Vietnam’s Country Profile by ERIA, Vietnam Tries PPP by the Voice of America and the Vietnam PPP Update by the Norton Rose Fulbright 123 ࣋ࢺࢼ࣒ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ࣋ࢺࢼ࣒ἲᇶ࡙࠸࡚タ❧ࡉࢀࡓእᅜᢞ㈨ᶵ㛵ࡢࡳࡀᅵᆅ ⏝ᶒド᫂᭩㸦CLUR㸧ཬࡧᘓタᕤᡤ᭷⪅ド᫂᭩ 㸦COCW㸧ࡢࢆཷࡅࡽࢀࡿ • እᅜேࡢ㈚ࡋᡭࡣ࣋ࢺࢼ࣒ᅾఫࡢ௦⌮ேࢆ㏻ࡌ࡚ᅵᆅ⏝ᶒ ᑐࡍࡿᢸಖᶒࡢタᐃࢆࡋ࡞ࡅࢀࡤ࡞ࡽ࡞࠸ • ௦⌮ᗑዎ⣙ࡢᇳ⾜ຊࡘ࠸࡚ᮍࡔ࣋ࢺࢼ࣒ࡢุᡤ࡛ᑂ⌮ࡉ ࢀࡓࡇࡣ࡞࠸ • PPPࡢධᮐཬࡧ΅ࡢᡭ⥆ࡣண ⬟࡛㛗ᮇ㛫ࢃࡓࡿ • ᅵᆅࡢᶒࡢྲྀᚓࡣ㏱᫂ᛶࢆḞ࠸ࡓ㛗ᮇ㛫ࢃࡓࡿᡭ⥆ ࡞ࡿ Sources – Vietnam’s Country Profile by ERIA, Vietnam Tries PPP by the Voice of America and the Vietnam PPP Update by the Norton Rose Fulbright 124 Cambodia – Overview • Nik Nasir Majid (a senior researcher in the ERIA): “Economic growth needs to be sustained to provide employment opportunities for the almost two-thirds of the population which falls in the economically active age group (15 (15-64) 64)” • Advantages of PPP implementation in Cambodia: • Political commitment • Positive investment climate • Substantial scope for efficiency improvement Source : Cambodia PPP in Infrastructure – by Dean Hethington 125 ࢝ࣥ࣎ࢪ – ᴫせ • ࢽࢵࢡ࣭ࢼࢩ࣮࣭࣐ࣝࢪࢵࢻẶ 㸦ERIAୖᖍ◊✲ဨ㸧 ࠕ⤒῭ᡂ㛗ࡣ⤒῭ⓗάືࡍࡿᖺ㱋ᒙ㸦15-64ṓ㸧ࡢேཱྀ ࡢ⣙3ศࡢ2㞠⏝ᶵࢆ࠼ࡿࡼ࠺ᣢ⥆ࡋ࡞ࡅࢀࡤ࡞ࡽ ࡞࠸ࠋࠖ • ࢝ࣥ࣎ࢪ࠾ࡅࡿPPPᐇࡢⅬ • ᨻⓗ㛵 • ๓ྥࡁ࡞ᢞ㈨⎔ቃ ๓ྥࡁ࡞ᢞ㈨ ቃ • ຠ⋡ᛶྥୖࡢᐇ㉁ⓗ࡞ᑕ⛬ Source : Cambodia PPP in Infrastructure – by Dean Hethington 126 Cambodia – General PPP Structure • Usually structured as BOTs • Power Sector -Government guarantee • Energy Sector S -Take-or-pay provision • Transportation Sector Exclusivity clause -Exclusivity Source : Cambodia PPP in Infrastructure – by Dean Hethington 127 ࢝ࣥ࣎ࢪ – ୍⯡ⓗ࡞PPPࡢᵓ㐀 • ㏻ᖖBOT᪉ᘧ࡛ᵓ⠏ࡉࢀࡿ • 㟁ຊ㒊㛛 • ᨻᗓಖド • ࢚ࢿࣝࢠ ࢚ࢿࣝࢠ࣮㒊㛛 㒊㛛 • ᘬྲྀᢸಖ᮲㡯 • ㏻㒊㛛 • ⊂༨᮲㡯 Source : Cambodia PPP in Infrastructure – by Dean Hethington 128 Cambodia – Funding for PPP projects • Methods of Funding: g Direct Investment • Foreign • Owner’s equity • Users U ffees • Family funds: – Only for small electricity PPP – Accounting for 22% • Successful bidders are required to set up their own local Special Purpose Vehicle for implementation Source : Cambodia PPP in Infrastructure – by Dean Hethington 129 ࢝ࣥ࣎ࢪ – PPPࣉࣟࢪ࢙ࢡࢺ㈨㔠 • ㈨㔠ㄪ㐩ࡢ᪉ἲ • እᅜ┤᥋ᢞ㈨ • ᡤ᭷⪅ᣢศ • ⏝⪅㈇ᢸ㔠 • ࣇ࣑࣮࣭ࣜࣇࣥࢻ – ᑠཱྀ㟁ຊPPPࡢࡳ – 22%ࢆ༨ࡵࡿ • ⴠᮐ⪅ࡣᒚ⾜ࡢࡓࡵࡢ≉ᐃ┠ⓗᴗయࢆタ❧ࡍࡿᚲせࡀ ࠶ࡿࠋ Source : Cambodia PPP in Infrastructure – by Dean Hethington 130 Cambodia – Opportunities in the Power Sector • Total PPP projects from 1990 to 2011 Sector Energy Telecom Sub-sector Number of projects Total Investment (in million in USD) Electricity 16 2,677 Natural gas 0 0 Total 16 2,677 Telecom 7 882 Airports 3 272 Railroads 1 85.5 Transport Roads 2 13 Seaports 0 0 Total 6 370.5 Treatment plant 0 0 Utility 0 0 Total 0 0 29 3,930 Water and Sewerage Total Source : Cambodia PPP in Infrastructure – by Dean Hethington 131 ࢝ࣥ࣎ࢪ – 㟁ຊ㒊㛛࠾ࡅࡿ≧ἣ • 1990ᖺࡽ2011ᖺࡢPPPࣉࣟࢪ࢙ࢡࢺࡢྜィ 1990ᖺࡽ2011ᖺࡢPPPࣉࣟࢪ ࢡࢺࡢྜィ 㒊㛛 ⣽㒊㛛 ࢚ࢿࣝࢠ࣮ ㏻ಙ ㍺㏦ ୖୗỈ㐨 ࣉࣟࢪ࢙ࢡࢺᩘ ྜィᢞ㈨㢠 (ⓒ⡿ࢻࣝ) 㟁ຊ 16 2,677 ኳ↛࢞ࢫ 0 0 ྜィ 16 2,677 ㏻ಙ/ ྜィ 7 882 ⯟✵ 3 272 㕲㐨 1 85.5 㐨㊰ 2 13 ‴ 0 0 ྜィ 6 370.5 ฎ⌮ሙ 0 0 Ỉ㐨 0 0 ྜィ 0 0 29 3,930 ྜィ Source : Cambodia PPP in Infrastructure – by Dean Hethington 132 Cambodia – Risks for Foreign Investors • Business environment ranked 138 out of 183 countries on the Ease of Doing Business Index • Legal system not yet fully mature • High corruption risk due to lack of transparency • Lack of skilled labor and manpower to work on PPP projects Source : Asia Circle Magazine, Cambodia Public – Private Partnerships in Infrastructure 133 ࢝ࣥ࣎ࢪ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • Ease of Doing Businessᣦᶆ࠾࠸࡚ࣅࢪࢿࢫ⎔ቃࡣ 183ᅜ୰138⨨ࡋ࡚࠸ࡿ • ἲⓗไᗘࡀࡲࡔࡣᡂ⇍ࡋ࡚࠸࡞࠸ • ㏱᫂ᛶࡢḞዴࡼࡿ㧗࠸ở⫋ࣜࢫࢡ • PPPࣉࣟࢪ࢙ࢡࢺᦠࢃࡿ⇍⦎ປാ⪅ཬࡧேᡭ㊊ Source : Asia Circle Magazine, Cambodia Public – Private Partnerships in Infrastructure 134 Myanmar – Overview • In a joint statement after the Japan-Myanmar summit in May 2013, it was announced that through the public and private sectors Japan would provide assistance for the development sectors, of Myanmar • The key to national development is creating basic infrastructure • For the p past 60 yyears,, Myanmar's y development p depended p solely on state funding • Now with the extensive economic reform and new investment law, Myanmar is attracting new investment from within and aboard in transportation, electricity and water 135 ࣑࣐࣮ࣕࣥ – ᴫせ • 2013ᖺ5᭶ࡢ᪥ᮏ࣑࣐࣮ࣕࣥࡢ㤳⬻ㄯᚋࡢඹྠኌ᫂ ࠾࠸࡚㸪ᐁẸࡢྛ㒊㛛ࢆ㏻ࡋ࡚᪥ᮏࡣ࣑࣐࣮ࣕࣥⓎᒎࡢ ࡓࡵࡢᨭࢆᥦ౪ࡍࡿ ࡀⓎ⾲ࡉࢀࡓ ࡓࡵࡢᨭࢆᥦ౪ࡍࡿࡇࡀⓎ⾲ࡉࢀࡓ • ᅜᐙࡢⓎᒎࡢ㘽ࡣᇶᮏⓗ࡞ࣥࣇࣛࡢタ • 㐣ཤ60ᖺΏࡗ࡚࣑࣐࣮ࣕࣥࡢⓎᒎࡣᑓࡽᅜᐙࡢ㈨㔠 㢗ࡗ࡚࠸ࡓ • ⌧ᅾࡣᗈ⠊࡞⤒῭ᨵ㠉ཬࡧ᪂ࡋ࠸ᢞ㈨ἲไࡼࡗ࡚࣑ࣕ ࣐࣮ࣥࡣ㏻㸪㟁ຊཬࡧỈ㐨ࡢศ㔝࡛ෆእࡢ᪂ࡓ࡞ᢞ㈨ ࢆࡧ㎸ࢇ࡛࠸ࡿ 136 Myanmar – Opportunities in the Aviation Sector • Currently has a total of 69 airports airports, of which only 32 are operational • There are 3 international airports - in Yangon, Mandalay and Nay Pyi Taw • Capacity of Yangon International Airport to be doubled from 2.7 million to 5.5 million passengers a year • The g government p plans to transform some existing g domestic airports p into international airports • Annual International Air Passenger Traffic into Myanmar Source : MegaProject 68: Myanmar awards two airport PPP projects by Miguel Rubio from InfraPPP World 137 ࣑࣐ࣕࣥ – ⯟✵㒊㛛࠾ࡅࡿ≧ἣ ࣑࣐࣮ࣕࣥ • ⌧ᅾྜィ69ࡢ✵ ࡀ࠶ࡾࡑࡢ࠺ࡕ⏝ࡉࢀ࡚࠸ࡿࡢࡣ32✵ ࡢࡳ • 3ࡘࡢᅜ㝿✵ ࡀ࠶ࡿ㸦ࣖࣥࢦࣥ㸪࣐ࣥࢲ࣮ࣞ㸪ࢿࣆࢻ࣮㸧 • ࣖࣥࢦࣥᅜ㝿✵ ࡢᐜྍ⬟ᩘண ࡣᖺ㛫270ேࡽ550ேಸቑ • ᨻᗓࡣ࠸ࡃࡘࡢ⌧Ꮡࡍࡿᅜෆ✵ ࢆᅜ㝿✵ ኚ᭦ࡍࡿࡇࢆィ⏬ • ࣑࣐࣮ࣕࣥࡢᖺ㛫ᅜ㝿Ώ⯟⪅ᩘ ࣑࣐ࣕࣥ ࡢᖺ㛫ᅜ㝿Ώ⯟⪅ᩘ Source : MegaProject 68: Myanmar awards two airport PPP projects by Miguel Rubio from InfraPPP World 138 Myanmar – Projects in the pipeline • Projects awarded recently y International Airport: p 1. Hanthawaddy – Awarded to the South Korea’s Incheon International Airport p Corporation p – Cost: USD$1.1 billion 2 Mandalay International Airport: 2. – Awarded to Japan’s JALUX Inc., Mitsubishi Corporation and SPA Project Management Ltd – Concession period – 30 years Source : MegaProject 68: Myanmar awards two airport PPP projects by Miguel Rubio from InfraPPP World 139 ࣑࣐࣮ࣕࣥ – 㐍⾜୰ࡢࣉࣟࢪ࢙ࢡࢺ • ᭱㏆ⴠᮐࡉࢀࡓィ⏬ ࣥࢱ࣡ ࢹᅜ㝿✵ 1. ࣁࣥࢱ࣮࣡ࢹᅜ㝿✵ - ோᕝᅜ㝿✵ බ♫ ࡀⴠᮐ - ㈝⏝ – 11൨⡿ࢻࣝ 2. ࣐ࣥࢲ࣮ࣞᅜ㝿✵ - ᪥ᮏࡢᰴᘧ♫JALUX㸪୕⳻ၟᰴᘧ♫ཬࡧSPA ᪥ᮏࡢᰴᘧ♫JALUX ୕⳻ၟᰴᘧ♫ཬࡧSPA Project Management Ltdࡀⴠᮐ - ᴗᮇ㛫 - 30 ᖺ Source : MegaProject 68: Myanmar awards two airport PPP projects by Miguel Rubio from InfraPPP World 140 Myanmar – Opportunities in the Energy Sector • Myanmar’s per capita electricity consumption is the lowest among the ASEAN-10 countries: • Estimated at 100 kilowatt hours (KWh) in 2010 which is approximately one-twentieth of that in Thailand y that less than 25 percent p of the • Estimates say country has access to electric power: y low installed capacity p y of around • Of the already 3500 megawatts (MW), only about 60 percent is reliably available Source : Powering up for growth: An assessment of the power sector in Myanmar – KPMG from InfraPPP World 141 ࣑࣐ࣕࣥ – ࢚ࢿࣝࢠ ࣑࣐࣮ࣕࣥ ࢚ࢿࣝࢠ࣮㒊㛛࠾ࡅ 㒊㛛࠾ࡅ ࡿ≧ἣ • ࣑࣐࣮ࣕࣥࡢ୍ேᙜࡓࡾࡢ㟁ຊᾘ㈝㔞ࡣASEAN10ᅜࡢ ୰࡛᭱ప • 2010ᖺࡣࢱࡢ⣙20ศࡢ1࡛࠶ࡿ100࢟ࣟ࣡ࢵࢺẖ 㸦KWh㸧᥎ィ • ᥎ ᥎ィࡼࡿ㟁ຊࡢࢡࢭࢫࡀ࠶ࡿࡢࡣᅜෆࡢ25㸣 ࡀ ‶ࡓ࡞࠸ࠋ • ࡑࢀ⮬యప࠸3500࣓࢞࣡ ࡑࢀ⮬యప࠸3500࣓࢞࣡ࢵࢺ㸦MW㸧ࡢタഛᐜ㔞ࡢ࠺ࡕ☜ ࢺ㸦MW㸧ࡢタഛᐜ㔞ࡢ࠺ࡕ☜ ᐇ⏝࡛ࡁࡿࡢࡣ⣙60㸣ࡢࡳ Source : Powering up for growth: An assessment of the power sector in Myanmar – KPMG from InfraPPP World 142 Myanmar – Japan International Cooperation Agency’s participation • JICA plans to utilize Japan’s expertise and knowledge to assist in the following social infrastructure buildings in the Yangon Metropolitan region: • Water supply • Sewer works • Urban water discharge • Urban transportation • Work has already begun on forming urgent and high-priority high priority projects • Assistance is underway using grant aid to repair the water distribution pipes in Yangon, an urgent issue for supplying safe water • A Japanese ODA loan has been provided to restore the aging thermal power station and transformer stations in the Yangon metropolitan area 143 ࣑࣐ࣕࣥ – ᅜ㝿༠ຊᶵᵓ㸦JICA㸧 ࣑࣐࣮ࣕࣥ ࡢཧຍ • JICA ࡣ௨ୗࡢࣖࣥࢦࣥ㒔ᕷᅪ࠾ࡅࡿ♫ࣥࣇࣛᩚഛࡢᨭ᪥ᮏ ࡢᑓ㛛▱㆑ࢆά⏝ࡍࡿࡇࢆィ⏬ࡋ࡚࠸ࡿ • Ỉ㐨ࡢ౪⤥ • ୗỈ㐨ᕤ • 㒔ᕷỈ • 㒔ᕷ㏻ • ⥭ᛴ࡛ඃඛᗘࡢ㧗࠸ࣉࣟࢪ࢙ࢡࢺࡢᵓ⠏సᴗࡀ᪤ጞࡲࡗ࡚࠸ࡿ ⥭ᛴ࡛ඃඛᗘࡢ㧗࠸ࣉࣟࢪ ࢡࢺࡢᵓ⠏సᴗࡀ᪤ጞࡲ ࡚࠸ࡿ • Ᏻ࡞Ỉࢆ౪⤥ࡍࡿ⥭ᛴࡢၥ㢟࡛࠶ࡿࣖࣥࢦࣥࡢỈ㐨⟶⿵ಟᑐࡍࡿ ↓ൾ㈨ ༠ຊ ࡼࡾᨭ 㐍⾜୰ ࠶ࡿ ↓ൾ㈨㔠༠ຊࡼࡾᨭࡣ㐍⾜୰࡛࠶ࡿ • ࣖࣥࢦࣥ㒔ᕷᅪ࠾ࡅࡿ⪁ᮙࡋࡓⅆຊⓎ㟁ᡤཬࡧኚ㟁ᡤࡢಟࡢࡓ ࡵ᪥ᮏࡢODA⼥㈨ࡀᥦ౪ࡉࢀ࡚࠸ࡿ 144 Myanmar– Risk for Foreign Investors • Corruption • Reputational damage • Human rights abuses / Forced labour • Difficulties in finding local partners / Continuation of economic sanctions • Ethnic and communal violence • Lack of institutional capacity to draft and implement reforms Source: McKinsey Global Institute Myanmar Report (2013); Risk advisory “Assessing Myanmar’s opportunities and risks” (June 2013); Committee on workers’ capital 145 ࣑࣐࣮ࣕࣥ – እᅜᢞ㈨ᐙࡢࣜࢫࢡ • ở⫋ ࣞࣆࣗࢸ ࢩࣙࣥ ࢲ࣓ ࢪ • ࣞࣆࣗࢸ࣮ࢩ࣭ࣙࣥࢲ࣓࣮ࢪ • ேᶒᐖ / ᙉไປാ • ᆅඖࡢࣃ࣮ࢺࢼ࣮ࢆ᥈ࡍࡇࡢᅔ㞴ࡉ ᆅඖࡢࣃ ࢺࢼ ࢆ᥈ࡍࡇࡢᅔ㞴ࡉ / ⤒῭ไࡢ⥅⥆ • Ẹ᪘ⓗཬࡧᆅᇦ♫࡛ࡢᭀ⾜ • ᨵ㠉ࡢ㉳ⲡཬࡧᐇ⾜ࢆ⾜࠺ࡓࡵࡢไᗘ㠃࡛ࡢ㊊ Source: McKinsey Global Institute Myanmar Report (2013); Risk advisory “Assessing Myanmar’s opportunities and risks” (June 2013); Committee on workers’ capital 146 Part 2: Special Issues in PPP Construction Contracting Phillip Georgiou, Singapore Office Stephen O'Neal O Neal, San Francisco Office 147 ➨2⦅ 㸸 PPPࡢᘓタዎ⣙࠾ࡅࡿ≉᭷ࡢၥ㢟 䝣䜱䝸䝑䝥䞉䝆䝵䝹䝆䝳䠈䝆䝵䞊䞁䝈䞉䝕䜲 䝅䞁䜺䝫䞊䝹䜸䝣䜱䝇 䝇䝔䜱 䝤䞉䜸䝙 䝹 䝆䝵 䞁䝈䞉䝕䜲 䝃䞁䝣䝷䞁䝅䝇䝁䜸䝣䜱䝇 䝇䝔䜱䞊䝤䞉䜸䝙䞊䝹䠈䝆䝵䞊䞁䝈䞉䝕䜲 148 Typical yp PPP Construction Structure Government Body Project Company Contractor Insurers Designers, Engineers, Subcontractors and Material Suppliers Designers, Engineers, Subcontractors’ and Material Suppliers’Guarantors ᆺⓗ࡞PPPࡢᘓタࡿᵓ㐀 ⾜ᨻᶵ㛵 䝥䝻䝆䜵䜽䝖♫ ᘓ⠏ㄳ㈇ே ಖ㝤ᴗ⪅ 䝕䝄䜲䝘䞊 䜶䞁䝆䝙䜰 ୗㄳ㈇ே ㈨ᮦ౪⤥ᴗ⪅ 䝕䝄䜲䝘䞊 䜶䞁䝆䝙䜰 ୗㄳ㈇ே ㈨ᮦ౪⤥ᴗ⪅ 䛾ಖドே Key Principle – Avoid Gaps in Risk Allocation • Isolate risk allocation issues in Concession Agreement and EPC (Engineer, Procure, Construct) or other Construction Contract • Ensure that those flow-down to subcontractors without gaps 151 せ࡞ᣦ㔪 – ࣜࢫࢡ㓄ศ࠾ࡅࡿ ࢠࣕࢵࣉࢆᇙࡵࡿ • ᶒ┈༠ᐃEPC㸦࢚ࣥࢪࢽ㸪ㄪ㐩ཬࡧᘓタ㸧ཪࡣ ࡑࡢࡢᘓタ㛵㐃ዎ⣙࠾ࡅࡿࣜࢫࢡ㓄ศࡢၥ㢟ࢆ ศ㞳ࡍࡿ • ࡑࢀࡽࡀࢠࣕࢵࣉ࡞ࡃୗㄳ㈇ேᘬࡁ⥅ࡀࢀ࡚ࡿࡇ ࢆ☜ㄆࡍࡿ 152 Basics • Scope/Performance Specification/Testing • Time • Price 153 ᇶ♏ • ⠊ᅖ / ᛶ⬟ᵝ / ᳨ᰝ • 㛫 • ౯᱁ 154 Scope/Performance Spec/Testing • Ensure that no scope gap exists in subcontracts for design, engineering, construction, or material supply • Performance Spec/Testing issues – obligate all subs to comply with relevant performance/testing specifications 155 ⠊ᅖ / ᛶ⬟ᵝ / ᳨ᰝ • ࢹࢨࣥ㸪࢚ࣥࢪࢽࣜࣥࢢ㸪ᘓタཪࡣ㈨ᮦ౪⤥ 㛵ࡍࡿୗㄳ㈇ዎ⣙࠾࠸࡚⠊ᅖࡢࢠࣕࢵࣉࡀ࡞࠸ࡇ ࢆ☜ㄆࡍࡿ • ᛶ⬟ᵝ / ᳨ᰝࡢၥ㢟 – ࡍ࡚ࡢୗㄳ㈇ே㛵㐃ࡍ ࡿᛶ⬟ཬࡧ᳨ᰝࡢᵝࢆ㡰Ᏺࡍࡿࡼ࠺⩏ົࡅࡿ 156 Time Ensure that provisions for time extensions flow-down • Force majeure • Changes to the work – flow-down all notice and entitlement provisions • Concurrent delay (apportionment) and schedule float ownership – Clarify at contracting stage/obtain required baseline schedules from subs • Review for inconsistency 157 㛫 ᮇ㛫ᘏ㛗㛵ࡍࡿ᮲㡯ࡀᘬࡁ⥅ࡀࢀ࡚࠸ࡿࡇࢆ☜ㄆ ࡍࡿ • ྍᢠຊ ࡍ ࡚ࡢ㏻▱ཬࡧᶒ㝈㛵ࡍࡿ᮲㡯ࡢ • ᵝኚ᭦ –ࡍ࡚ࡢ㏻▱ཬࡧᶒ㝈㛵ࡍࡿ᮲㡯ࡢ ᘬ⥅ࡂ • ྠ㐜ᘏ㸦ࡢ㈐௵ศᢸ㸧ཬࡧࢫࢣࢪࣗ ྠ㐜ᘏ㸦ࡢ㈐௵ศᢸ㸧ཬࡧࢫࢣࢪ࣮ࣗࣝኚື ࣝኚື ࡘ࠸࡚ࡢ┈ࡢᡤᅾ – ዎ⣙ẁ㝵࡛ࡢ᫂☜ / ୗㄳ㈇ேࡽᇶᮏⓗ࡞ ࢫࢣࢪ࣮ࣗࣝࢆྲྀᚓ • ୍㈏ᛶࡢ᳨ド ㈏ᛶࡢ᳨ド 158 Price Regardless of contract pricing format, e.g., stipulated sum, guaranteed maximum price, etc., ensure flowdown of • limits on price increases • opportunities for price increases – claims submission agreements/pass agreements/pass-throughs throughs 159 ౯᱁ ዎ⣙౯᱁㛵ࡍࡿࣇ࢛࣮࣐ࢵࢺ㸦㸸つᐃࡉࢀࡓྜ ィ㢠㸪ಖド࠶ࡿ᭱㢠➼㸧ࢃࡽࡎ௨ୗࡢᘬ⥅ ࡂࡘ࠸࡚☜ㄆࡍࡿ • ౯᱁ቑຍࡢ㝈⏺ • ౯᱁ቑຍࡢᶵ – ㄳồᥦฟዎ⣙ / ࣃࢫࢫࣝ ࣃࢫࢫ࣮ࣝ 160 Governing Law • Beware of inconsistencies in governing law of Concession Agreement, EPC contract, and statutory requirements re subcontracts 161 ‽ᣐἲ • ᶒ┈༠ᐃ㸪EPCዎ⣙㸪ୗㄳ㈇ዎ⣙㛵ࡍࡿἲつไ ࡘ࠸࡚‽ᣐἲࡢ▩┪ࡀ࡞࠸ὀពࡍࡿࡇ 162 Insurance and Indemnification • Unified scheme for entire project to avoid gaps – critical to conduct risk review prior to contracting – Beware of limits on indemnification in particular jurisdiction – Defense obligation separate from indemnification • control of litigation 163 ಖ㝤ཬࡧ⿵ൾ • ࢠࣕࢵࣉࢆᇙࡵࡿࡓࡵࡢࣉࣟࢪ࢙ࢡࢺయࡢ⤫୍ ࡉࢀࡓࢫ࣮࣒࢟ – ዎ⣙⥾⤖ࡢ๓ࣜࢫࢡࢆ☜ㄆࡍ ࡿࡓࡵ㔜せ – ≉ᐃࡢἲᇦ࡛ࡣ⿵ൾࡢไ㝈ࡀ࠶ࡿࡇὀព – ᘚㆤ⩏ົࡣ⿵ൾ༊ูࡉࢀࡿ • ッゴࡢࢥࣥࢺࣟ ッゴࡢࢥࣥࢺ࣮ࣟࣝ ࣝ 164 Warranties • Ensure subcontractor and material supplier warranties match obligations of contractor • Tiered warranties for more/less critical components Intellectual Property • Obtain warranties and indemnification from subs/suppliers as to any IP you must deliver Site conditions • Ensure differing site condition risk flows down 165 ಖド • ୗㄳ㈇ேཬࡧ㈨ᮦ౪⤥ᴗ⪅ࡢಖドࡀㄳ㈇ᴗ⪅ࡢ⩏ົ ୍⮴ࡍࡿࡇࢆ☜ㄆࡍࡿ • 㔜せᛶࡢ㧗పᛂࡌࡓ㒊ศࡈࡢẁ㝵ⓗಖド ▱ⓗ㈈⏘ • ㆡΏࡋ࡞ࡅࢀࡤ࡞ࡽ࡞࠸▱ⓗ㈈⏘㛵ࡋ࡚ୗㄳ㈇ே / ౪ ⤥ᴗ⪅ࡽಖドཬࡧ⿵ൾࢆᚓࡿ ❧ᆅ᮲௳ • ␗࡞ࡿ❧ᆅ᮲௳ࡢࣜࢫࢡࡀᘬࡁ⥅ࡀࢀࡿࡇࢆ☜ㄆࡍ ࡿ 166 Termination rights • Triggers • Automatic termination of subcontractor/supplier agreements on termination of main contract • Termination for convenience – Ensure that pricing scheme on convenience termination flows down 167 ゎ⣙ᶒ • ゎ⣙⏤ • ᮏዎ⣙ࡢ⤊క࠺ୗㄳዎ⣙ / ౪⤥ዎ⣙ࡢ⮬ືゎ⣙ • ௵ពゎ⣙ᶒ – ௵ពゎ⣙࠾ࡅࡿ౯᱁ࢫ࣮࣒࢟ࡢᘬ⥅ࡂࢆ☜ ௵ពゎ⣙ ࠾ ࡿ౯᱁ ࢟ ⥅ࡂࢆ☜ ㄆࡍࡿ 168 Liquidated Damages • Delay damages • Performance guarantee damages • Reasonable good faith estimate of damages/avoid penalty-unenforceability issue • Security for performance – Ensure that subs and suppliers post security for allocable share of risk 169 ᦆᐖ㈺ൾࡢணᐃ • 㐜ᘏᦆᐖ • ᒚ⾜ಖド㛵ࡍࡿᦆᐖ • ㄔᐇ࡛ྜ⌮ⓗ࡞ᦆᐖࡢぢ✚ࡶࡾ / 㐪⣙㔠ࡢᇳ⾜⬟ ᛶࡢၥ㢟ࡢᅇ㑊 • ᒚ⾜ࡢᢸಖ – 㓄ศࡉࢀࡿࣜࢫࢡ㛵ࡋ࡚ୗㄳ㈇ேཬࡧ౪⤥ ᴗ⪅ࡀᢸಖࢆᕪࡋධࢀࡿࡇࢆ☜ㄆࡍࡿ 170 Liability Caps • For key subcontractors and material suppliers, ensure that their liquidated damages obligations are sufficient to cover yours • Waiver of consequential damages – Flow-down – Lost p profits issue 171 ㈺ൾ㢠ࡢୖ㝈 • せ࡞ୗㄳ㈇ேཬࡧ㈨ᮦ౪⤥ᴗ⪅ࡀ㈇࠺ᦆᐖ㈺ൾࡢ ணᐃ㢠ࡀ⮬ࡽ㈇࠺ᦆᐖ㢠ࢆ࢝ࣂ࣮ࡍࡿࡢ༑ศ࡛࠶ ࡿࡇࢆ☜ㄆࡍࡿ • ὴ⏕ⓗᦆᐖࡢච㝖 – ࣇ࣮ࣟࢲ࢘ࣥ – 㐓ኻ┈ࡢၥ㢟 ኻ ၥ 172 Dispute Resolution • DRB/DAB • Mediation • Arbitration • Joinder Clause C – Executed by subs and their parents/guarantors/security providers • Obligation to continue working/provide materials in event of dispute (tied to security for performance) 173 ⣮தゎỴ • DRB / DAB • ㄪ • ௰ • ేྜ᮲㡯 – ୗㄳ㈇ேཬࡧࡑࡢぶ♫ / ಖドே / ᢸಖᥦ౪⪅ ࡼࡗ࡚⥾⤖ࡉࢀࡿ • ⣮தᕤࢆ⥆ࡅࡿ / ㈨ᮦࢆ౪⤥ࡍࡿ⩏ົ 㸦ᒚ⾜ ࡢಖド㛵ಀ㸧 174 Thank a you Questions? 175 ࡈΎ⫈࠶ࡾࡀ࠺ࡈࡊ࠸ࡲࡋࡓ ㉁ၥࡣࡈࡊ࠸ࡲࡍ? 176 Contact Phillip Georgiou Jones Day - Singapore [email protected] 65.6233.5992 Bill Napier Jones Day - Sydney [email protected] 61.2.8272.0730 Stephen V V. O'Neal O Neal Jones Day – San Francisco [email protected] 1.415.875.5780 Maria Tan Pedersen Jones Day – Hong Kong [email protected] 852 3189 7354 852.3189.7354 Disclaimer The views expressed by a speaker at the seminar or contained in this presentation material are those of such individual’s own, and do not reflect the views of the Firm. This presentation material is prepared for the sole purpose of explanation of the subject matters of this seminar, and is not intended to provide, and should not be deemed to constitute, legal advice on any specific facts or circumstances. This presentation material is protected by the copyright law, and may not duplicated, quoted, modified, translated or distributed without the prior consent of the Firm. ©2013 JONES DAY, All Rights Reserved 177 㐃⤡ඛ ࣇࣜ ࣉ ࢪ ࣝࢪ ࣇࣜࢵࣉ࣭ࢪࣙࣝࢪࣗ ࣅࣝ ࢿࣆ ࣅ࣭ࣝࢿࣆ ࢪ࣮ࣙࣥࢬ࣭ࢹ ࢩ࣏࣮ࣥ࢞ࣝ ࢪ࣮ࣙࣥࢬ࣭ࢹ ࢩࢻࢽ࣮ [email protected] pg g @j y 65.6233.5992 [email protected] 61.2.8272.0730 ࢫࢸ࣮ࣈ࣭࢜ࢽ࣮ࣝ ࣐࣭ࣜࣆࢲ࣮ࢭࣥ ࢪ࣮ࣙࣥࢬ࣭ࢹ ࢧࣥࣇࣛࣥࢩࢫࢥ [email protected] 1.415.875.5780 ࢪ࣮ࣙࣥࢬ࣭ࢹ 㤶 [email protected] 852.3189.7354 䛤ὀព ᮏ㈨ᩱ୰䠈ᮏ䝉䝭䝘䞊䛷䛾Ⓨゝ䛚䜘䜃ᮏ㈨ᩱ୰䛾ពぢ䛻䜟䛯䜛㒊ศ䛿䠈ㅮ₇⪅䛾ಶேⓗぢゎ䛷䛒䜚䠈ᙜົᡤ䛾ពぢ䜢௦⾲䛩䜛䜒 䛾䛷䛿䛒䜚䜎䛫䜣䚹 ᮏ㈨ᩱ䛿䠈ᮏ䝉䝭䝘䞊䛾䝔䞊䝬䛻䛴䛔䛶䛾ㄝ᫂⏝䛻సᡂ䛥䜜䛯䜒䛾䛷䛒䜚䠈≉ᐃ䛾ᐇ䜔䛻㛵䛩䜛ᘚㆤኈ 䛾ἲⓗ䛺䜰䝗䝞䜲䝇䛸䛿䛺䜚䜎䛫䜣䚹ᮏ㈨ᩱ䛿ⴭసᶒ䛻䜘䜛ಖㆤ䛾ᑐ㇟䛸䛺䜚䜎䛩䚹ᙜົᡤ䛾๓䛾チྍ䛺䛟䠈」〇䠈㌿㍕䠈ኚ᭦䠈 ⩻䠈⩻ヂ䠈㓄ᕸ➼䜢䛩䜛䛣䛸䛿䛷䛝䜎䛫䜣䛾䛷䠈䛤ὀព䛟䛰䛥䛔䚹 ©2013 JONES DAY, All Rights Reserved 178 ᮾி࢜ࣇࢫ㐃⤡ඛ 㕥ᮌ ṇල Ჴ⃝ 㧗ᚿ ࢪ࣮ࣙࣥࢬ࣭ࢹᮾி ࢪ࣮ࣙࣥࢬ࣭ࢹᮾி [email protected] 03.6800.1817 [email protected] 03.6744.1604 ©2013 JONES DAY, All Rights Reserved 179 እᅜἲඹྠᴗ ࢪ ࢪ࣮ࣙࣥࢬ࣭ࢹἲᚊົᡤ ࢬ ࢹ ἲᚊົᡤ ࠛ105-0001 ࠛ105 0001 ᮾி㒔 ༊ࣀ㛛4┠1␒17ྕ ⚄㇂⏫ࣉ࣒ࣛࣉࣞࢫ 03 3433 3939 03.3433.3939 www.jonesday.com ©2013 JONES DAY, All Rights Reserved 180
© Copyright 2024 Paperzz
