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Public-Private Infrastructure Investment in East Asia

Public-Private Infrastructure Investment in East Asia. Rafaelita M. Aldaba Philippine Institute for Development Studies NEAT Working Group Meeting on Investment 10 May 2008 Beijing, China. Agenda. Modalities for public-private partnerships in infrastructure

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Public-Private Infrastructure Investment in East Asia

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  1. Public-Private Infrastructure Investment in East Asia Rafaelita M. Aldaba Philippine Institute for Development Studies NEAT Working Group Meeting on Investment 10 May 2008 Beijing, China

  2. Agenda • Modalities for public-private partnerships in infrastructure • Trends in private participation in infrastructure investment • Infrastructure challenge in East Asia

  3. Models for private participation in infrastructure • Management & lease contracts: private entity takes over management for a fixed period but ownership & investment decisions remains with the state • Concessions: private entity takes over management for a given period & assumes significant investment risk - Rehabilitate, operate & transfer (ROT) - Rehabilitate, lease/rent & transfer (BLT) - Build, rehabilitate, operate & transfer (BROT)

  4. Models for private participation in infrastructure (cont’d) • Greenfield projects: a private entity or public-private joint venture builds or operates a new facility for a period specified in contract; facility may return to the state at end of concession period [East Asia] - Build, lease, & transfer (BLT) - Build, operate, & transfer (BOT) - Build, own, & operate (BOO) • Divestitures: buy equity stake through asset sale, public offering, or mass privatization program [Latin America]

  5. Private sector infrastructure investment in East Asia US$ billions Latin America & the Caribbean Europe & Central Asia East Asia & Pacific South Asia East Asia has attracted significant levels of private sector investment in infrastructure

  6. Canceled or distressed PPI projects in developing countries: 1990-2006 Source: World Bank and PPIAF, PPI Project Database.

  7. Investment commitments to PPI projects in developing countries Total: US$509 billion (2006 US$) Total: US$782 billion (2006 US$) 2001-06 1990-2000 Source: World Bank and PPIAF, PPI Project Database,

  8. Private Investment type 2006 US$ billions 2006 US$ billions

  9. ASEAN 4 + China: a closer look US$ million

  10. ASEAN 4 + China (cont’d)

  11. Infrastructure Performance ADB, JBIC, & World Bank (2005), Connecting East Asia

  12. Infrastructure Performance (cont’d) ADB, JBIC, & World Bank (2005), Connecting East Asia

  13. Infrastructure challenge in East Asia Investment & Maintenance Needs in East Asia, 2006-2010, US$ & % GDP ADB, JBIC, & World Bank (2005), Connecting East Asia

  14. Infrastructure challenge in East Asia(cont’d) Investment & Maintenance Needs in China, 2006-2010, US$ & % GDP ADB, JBIC, & World Bank (2005), Connecting East Asia

  15. Sourcing funding requirements to address infrastructure challenge • economic crisis is now over, private sector returning only very cautiously: can we still rely on private sector investment in infrastructure? • perception survey (ADB-JBIC-WB) : majority of the investors keen to invest in East Asia if correct policies evolve • investors will come back ….more predictable policies, better regulation, more competitive markets

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