Liang, X; Gidado, K and Painting, N (2004) The identification of key obstacles that hinder foreign private finance investments in highway projects in China. In: Khosrowshahi, F (ed.) Proceedings of 20th Annual ARCOM Conference, 1-3 September 2004, Edinburgh, UK.
Abstract
The use of Private Finance Initiative (PFI) as a way for Governments to deliver high quality and cost effective public services is developing rapidly throughout the world. However, there are still many issues and problems that need to be addressed when implementing such projects, which may vary from one economy to another and within various project-types. The Institute of International Finance data suggests that China leads other emerging markets in foreign direct investments or private participation in funding infrastructure projects (over 350 billion US dollars). However, most of the private investment is in the form of Net Equity Investments, but with continuous progress in legal reforms, other forms are increasing rapidly. The research reported in this paper identifies the nature and extent of the obstacles that may hinder the successful implementation of PFI model for highway projects in China. The study has identified critical issues hindering the participation of foreign investors in such PFI schemes at the institutional, transactional and implementation levels. It is anticipated that having identified the issues and risks the research will provide advice and recommendations and develop a specific PFI implementation model that can be used by Government organisations and international practitioners interested in participating in PFI projects in China.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | PPP; PFI; risk management; highway and China |
| Index terms: | highway construction, practitioner, international finance, risk management, foreign direct investment, infrastructure project, investor, public services, critical issue, private finance initiative, private finance, implementation, emerging market, private investment, China, funding |
| Subjects: | infrastructure and transport systems, economic analysis, administrative law, financial management, risk assessment, sociology, civil engineering, Geography, practitioner, contractual arrangements |
| Topics: | Roles and Professions, Legal Issues, Stakeholder Management, Engineering Principles, International Construction, Procurement, Business Strategy, Geographical Context, Risk Management, Cost Management |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here