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Oleh Admin   
Senin, 24 Oktober 2011 03:28
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Roads and Bridges Left in Damaged Condition

A number of roads and bridges in some areas in Central java's north coast (pantura) route, such as Pemalang, Pekalongan, Kendal, Semarang, adn Demak, are damaged and up to now thhey not been repaired. Constraints to budgetary funds for regency and city infrastructure development have led to intermittent repair works on those roads and bridges...ERIA.PDF

 

* Finance Aspects of PPP

Synopsis

Dr.-Ing. Andreas Wibowo, VDI

Infrastructure investment projects, especially green-field capital projects, are typically characterized by high start-up capital requirements, a slow rate of recovery, a long investment horizon spanning for decades, sunk cost and a high degree of asset specificity. They also constitute a plethora of project risks whose profiles often undergo substantial changes with the project life cycle. Under a public-private-partnership (PPP) arrangement, project risks are shared between the host government and the project sponsor. Acknowledging the specific nature of PPP investment projects, it is thus imperative for both host government and project sponsor to incorporate risk analysis into PPP project appraisals. The issues of scrutinizing financial viability, estimating project-specific minimum attractive rate of return, defining critical risks that may jeopardize the project financial sustainability, and mitigating the risks to reduce the impacts are accordingly relevant. Risk-return tradeoff turns out to be the heart of financial decision-making processes. On another front, addressing the issues can be quite challenging for project sponsors and especially government officials. It requires both parties to develop skills and capabilities in the areas to allow them to stand on equal footing in managing a PPP infrastructure project and to gain optimal value for money for all stakeholders.

* Legal and Institutional Aspects of PPP

Synopsis

Iming M. Tesalonika SH. MM. MCL

PPP in infrastructure development is a new concept in Indonesia. Currently the government is introducing and keeps updating various laws and regulations related to infrastructure development in various sectors which will enable PPP concepts to be recognized and implemented under Indonesian laws. Public private partnership (PPP) will in the near future become the main instrument in which parties will embark on contracts and transactions.

There are various types of cooperation contract in PPP. Basically the types of cooperation will dictate to what extent the private will have role under the contracts. Commonly when a proposed PPP project is quite sophisticated, the private will have more role and authority in managing the PPP project starting from the role of designing, the role of financing, the role of constructing, the role of operating and maintaining. The more role the private has, the private will have more risks to manage, and simultaneously a government agency acting as the party to the cooperation contract will have less role to play in managing risks. Thus, under any PPP cooperation contract, a government agency will need to set up the model of cooperation, identify various risks and its allocation to be properly allocated to the private, and risk management scheme.

Finally, when talking about institutional aspects, we are talking about various institutions set up under the laws and regulations, which will be important parts to ensure the success of PPP infrastructure development in Indonesia.

* Indonesia Infrastructure Development

Synopsis

Prof. Suyono Dikun

Infrastructure development, investment, and financing would be a big portfolio in Indonesia’s economy in the next couple decades to come and knowledge about the undertakings is somehow limited and country experience is somewhat scarce. If Indonesia can successfully maintain a macro economic stability along with clarity and certainty of legal and regulation frameworks and ease the burden of land acquisition to investors, then both foreign direct and domestic investments would increase significantly. One of the big investment portfolios is infrastructure development. Not only that construction industry and business would flourish, consulting industry related with large-scale, world class infrastructure transaction will also develop in a rapid fashion in line with the increasing public and private investment.

The development of Indonesia infrastructure in the coming years is a big undertaking, requiring a huge investment fund, both from public and private sectors. Public private partnership (PPP) will become the main instrument in which both parties will embark on contracts and transactions, most likely international transactions. The international best practices on legal and regulation, institution set up, financing, and pricing policy would be the rules of the game, as well as government risk sharing arrangement to reduce the project risks. All these knowledge on PPP undertakings is currently not widely acquired by Indonesia’s government officials, professionals and academy.

 

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