OECD principles for private sector participation in infrastructure [electronic resource] PDF
Preview OECD principles for private sector participation in infrastructure [electronic resource]
OECD Principles for Private Sector Participation in Infrastructure «• OECD Copyrightedi OECD Principles for Private Sector Participation in Infrastructure m OECD ORGANISATIONFORECONOMICCO-OPERATIONANDDEVELOPMENT Copyrightedi ORGANISATIONFORECONOMICCO-OPERATION ANDDEVELOPMENT TheOECDisauniqueforumwherethegovernmentsof30democracieswork togethertoaddresstheeconomic,socialandenvironmentalchallengesofglobalisation. TheOECDisalsoattheforefrontofeffortstounderstandandtohelpgovernments respondtonewdevelopmentsandconcerns,suchascorporategovernance,the informationeconomyandthechallengesofanageingpopulation.TheOrganisation providesasettingwheregovernmentscancomparepolicyexperiences,seekanswersto commonproblems,identifygoodpracticeandworktoco-ordinatedomesticand internationalpolicies. TheOECDmembercountriesare:Australia,Austria,Belgium,Canada,the CzechRepublic,Denmark,Finland,France,Germany,Greece,Flungary,Iceland, Ireland,Italy,Japan,Korea,Luxembourg,Mexico,theNetherlands,NewZealand, Norway,Poland,Portugal,theSlovakRepublic,Spain,Sweden,Switzerland,Tbrkey, theUnitedKingdomandtheUnitedStates.TheCommissionoftheEuropean CommunitiestakespartintheworkoftheOECD. OECDPublishingdisseminateswidelytheresultsoftheOrganisation’sstatistics gatheringandresearchoneconomic,socialandenvironmentalissues,aswellasthe conventions,guidelinesandstandardsagreedbyitsmembers. TheOECDPrinciplesforPrivateSectorParticipationinInfrastructurewere adoptedbytheOECDCouncilon20March2007. AlsoavailableinFrenchunderthetitle: Principesdel’OCDEpourlaparticipationdusecteurpriveauxinfrastructures OECD2007 Noreproduction,copy,transmissionortranslationofthispublicationmaybemadewithoutwrittenpermission. ApplicationsshouldbesenttoOECDPublishingrights@oecd.orgorbyfax33145249930.Permissiontophotocopya portionofthisworkshouldbeaddressedtotheCentrefrangaisd’exploitationdudroitdecopie(CFC),20,ruedes GCreanntdesr-(ACuCgCu)s,t2i2n2s,Ro7s50e0w6ooPadriDsr,iFvreaDnacnev,efrasx,3M3A1406193243,67US1A9,,[email protected],mionrfo(@fcoorpUyrSigohntl.yc)omt.oCopyrightClearance . Foreword On20March2007,theOECDCouncilapprovedtheOECDPrinciples forPrivateSectorParticipationinInfrastructuretohelpgovernmentswork withprivatesectorpartnerstofinanceandbringtofruitionprojectsinareas ofvitaleconomicimportance,suchastransport,waterandpowersupplyand telecommunications “Helpingcountriesfindnewwaysoffinancinginvestmentinareaslike watersupply and sanitation is one ofthe OECD’spriorities,” OECD Secretary-GeneralAngelGurriacommented.“ThesePrincipleswillhelp bothdevelopedanddevelopingcountriesmoveforwardwithinfrastructure projectstoboosteconomicgrowthandimprovethelivesoftheircitizens.” UndertheaegisoftheInvestmentCommittee,thePrincipleswere developedinco-operationwithotherOECDbodiesandthroughaprocessof consultationwithabroadgroupofpublicandprivatesectorexpertsfrom OECD and non-OECD countries, as well as from non-governmental organisations. Theyareintendedtobeusedforgovernmentassessment,actionplans andreporting,internationalco-operationandpublic-privatedialogue,in conjunctionwithotherOECDinstruments,suchasthePolicyFramework forInvestmentandtheOECDGuidelinesforMultinationalEnterprises. AttheOECDSecretariat,documentationsupportingthePrincipleswas preparedbyHansChristiansenoftheInvestmentDivision,headedbyPierre Poret,intheDirectorateforFinancialandEnterpriseAffairs.TheDivision’s communicationofficerisPamelaDuffm. OECDPRINCIPLESFORPRIVATESECTORPARTICIPATIONININFRASTRUCTURE-ISBN978-92-64-03410-5-©OECD2007 3 Copyrightedmaterial 8 TableofContents RecommendationoftheCouncilonPrinciplesforPrivateSector ParticipationinInfrastructure 7 OECDPrinciplesforPrivateSectorParticipationinInfrastructure 9 Preamble 9 I. Decidingonpublicorprivateprovisionofinfrastructureservices 12 II. Enhancingtheenablinginstitutionalenvironment 15 III. Goals,strategiesandcapacitiesatalllevels 1 IV. Makingthepublic-privateco-operationwork 21 V. Encouragingresponsiblebusinessconduct 26 Furtherresources SO OECDPRINCIPLESFORPRIVATESECTORPARTICIPATIONININFRASTRUCTURE-ISBN978-92-64-03410-5-@OECD2007 5 Copyrightedmaterial RecommendationoftheCouncil onPrinciplesforPrivateSectorParticipation inInfrastructure,20March2007 THECOUNCIL, Having regard to articles 1(c), 2(d), 2(e) and 5(b) ofthe Convention on the OrganisationforEconomicCo-operationandDevelopmentof14December1996; Having regardto the Declaration on InternationalInvestmentandMultinational EnterprisesadoptedbytheGovernmentsofOECDMembercountriesin1976andlast reviewedin2000,andtothePolicyFrameworkforInvestmentadoptedbyCouncilin 2006; Concerned by the important needsfor new investment to develop and upgrade infrastructure services in both OECD andnon-Membereconomies in supportof economicgrowthandsustainabledevelopment; Recognisingtherolethattheprivatesector,includingmultinationalenterprises,can playinprovidingfinanceandexpertisetodeveloptheinfrastructureservicesofhost countries; a)INVITESgovernments,inassessingtheirpoliciestowardinfrastructureservicesand intheirdialoguewithinvestors,totakedueaccountofthePrinciplesforPrivateSector ParticipationinInfrastructure(hereafterthePrinciples)whicharesetoutintheAnnex tothisRecommendationandformanintegralpartthereof; b)RECOMMENDSthewidestpossibledisseminationofthePrincipleswiththesupport ofOECDinco-operationwithotherinternationalorganisations, aswellasactive engagementofbusiness,labourandothercivilsocietyorganisations; c)AGREESthatthePrinciplesshouldbereviewedbytheInvestmentCommitteeinlight ofexperiencegainedinusingthem,inco-operationwithnon-Memberpartners,other OECDbodiesandinternationalinstitutionsandinconsultationwithstakeholders,and toreporttotheCouncilasappropriate. OECDPRINCIPLESFORPRIVATESECTORPARTICIPATIONININFRASTRUCTURE-ISBN978-92-64-03410-5-©OECD2007 Copyrightedmaterial OECDPrinciplesforPrivateSector ParticipationinInfrastructure Preamble Theshortageofinfrastructureindevelopingcountriesisanimportant obstacletomeetingpopulations’needs,toenterprisedevelopmentandto achievingthegoalsoftheMillenniumDeclaration.WithintheOECDarea, manycountriesfacethedoublechallengeofgrowingdemandandageing physicalassetsinlargepartsoftheirinfrastructuresectors,whichcould become an obstacle to sustained growth. The needs forinfrastructure investmentworldwideinthecomingdecades-definedtoincludepublic utilitiessuchastelecommunication,power,transportationandwaterand sanitation-areestimatedatlevelsexceedingUS$1,800billionperyear.If suchamountsofmoneyaretoberaised,policymakersneedtomobiliseall the potential sources ofcapital and consider innovative schemes for infrastructurefinancing. Inmanycountriessuchlevelsofinvestmentcannotbefinancedbythe publicpursealone.Tomeettheneeds,encouragingprivateinvestmentin infrastructure is an option that governments cannot afford to ignore. Moreover, private sector participation can bring other benefits than additionalcapital.Theexamplesincludetheend-userbenefitsofamore competitiveenvironment,aswellasthemobilisationoftheprivatesector’s technologicalexpertiseandmanagerialcompetencesinthepublicinterest. InalargenumberofOECDandothercountriesprivateparticipationin infrastructurehasinrecentdecadeshelpedboostboththecoverageand efficiencyofinfrastructureservices. Yetatthesametimeanumberoffailedpublic-privatepartnershipsin theinfrastructuresectorsatteststothedifficultchallengesfacingpolicy makers. Infrastructure investment involves contracts which are more complexandoflongerdurationthaninmostotherpartsoftheeconomy, operatedunderthedoubleimperativeofensuringfinancialsustainabilityand meetinguserneedsandsocialobjectives.Thechallengesareevenmore OECDPRINCIPLESFORPRIVATESECTORPARTICIPATIONININFRASTRUCTURE-ISBN978-92-64-03410-5-©OECD2007 9
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