2009年-世界发展银行全球_Investment_Commitments_and_the_Number_of_New_Projects_Decline_in_East_Asia_and_Pacific_11页_805kb

2008 East Asia and Pacific PPI Data Summary

Core Content

In 2008, private participation in infrastructure (PPI) in the East Asia and Pacific region experienced a significant decline in both investment commitments and the number of new projects. This slowdown was observed throughout the year, with a notable drop in the second half. The total investment commitments for the region reached US$8.6 billion for projects that reached financial or contractual closure, and US$6.8 billion for previously implemented projects, resulting in a total of US$15.4 billion in 2008. This is a 33% decrease from 2007 and the lowest level since 2002.

Main Points

Investment and Projects Decline

• Total investment in 2008: US$15.4 billion, down 33% from 2007.
• Number of projects reaching closure: 78, a 38% drop from 2007.
• New projects: 78 in total, with 44 in the first half and 34 in the second half.
• Investment in new projects: US$3.3 billion in the first half, down 48% from 2007; US$5.2 billion in the second half, down 25% from 2007.
• Preliminary data for 2009: Suggest a recovery in the first half with investment reaching US$4.4 billion.

Sectoral Activity

• Energy: The largest sector, accounting for 50% of regional investment. Total investment: US$7.6 billion, up 19% from 2007.
• Telecommunications: Investment dropped to US$5.5 billion, with most going to network expansion by existing operators.
• Transport: Investment fell by 80% to US$1.3 billion, one of the lowest levels since 1990.
• Water and sewerage: Investment dropped to US$0.97 billion, mainly due to reduced activity in China.

Regional Trends

• China was the largest contributor to both new projects and investment, accounting for 59 of the 78 new projects and 12% of regional investment.
• Indonesia and the Philippines were the next largest contributors, with Indonesia attracting 37% of the investment and the Philippines 21%.
• New projects in 2008 were relatively small in size, with the median investment size in the region ranging from US$15 million to US$32 million, compared to US$24 million to US$97 million in all developing countries.

Key Projects

Energy

• China: Implemented 10 projects, including wind farms and power plants, with total investment of US$678 million.
• Indonesia: Implemented 4 new power plants, with the largest being the Tanjung Jati B Units 3 & 4 Coal-Fired Power Plant (US$2.2 billion).
• Philippines: Finalized 2 divestitures and implemented a new hydropower plant.
• Thailand: Secured financing for 2 new power plants.

Telecommunications

• Fiji: Digicel Fiji, a greenfield project (BOO), with investment of US$90.25 million.
• Democratic People’s Republic of Korea: CHEO Technology 3G, a greenfield project (BOO), with investment of US$400 million.
• Vanuatu: Vanuatu Digicel, a greenfield project (BOO), with investment of US$35 million.

Transport

• China: Implemented 3 new projects, including a bridge and seaport terminal.
• Malaysia: Signed a US$425 million BOT contract for the Johor Eastern Dispersal Link Expressway.
• Philippines: Implemented 2 ROT concessions for port facilities.
• Vietnam: Implemented 2 new BOT projects for seaport container terminals.

Water and Sewerage

• China: Implemented 46 new projects, including 44 treatment plants and 2 utilities, with total investment of US$974 million.
• Malaysia: Signed a 27-year concession for the Sungai Sireh potable water treatment plant.

Additional Information

• Potential projects: At least 15 infrastructure projects were awarded in 2008 but did not reach closure by year-end.
• Canceled and distressed projects: One project was canceled, and six became distressed, bringing the total number of such projects since 1990 to 80, which represents 6% of all infrastructure projects and 12.2% of investment commitments.
• Concessions: Investment in concessions dropped by 76% to US$435 million, with most of the decline in new projects.
• Divestitures: Investment in divestitures dropped by 43% to US$3.2 billion.
• No concluded projects: No infrastructure projects were concluded in the region in 2008.

Conclusion

The year 2008 marked a notable slowdown in private participation in infrastructure in the East Asia and Pacific region, with both investment commitments and the number of projects declining. While energy remained the largest sector, investment in other areas such as transport and water and sewerage saw significant drops. China played a central role in driving investment and project numbers, but even its contribution was affected by the overall regional trend. The region's investment in new projects was smaller than in other developing countries, indicating a shift in project size and structure.