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Analysis of an eco-tourism PPP

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Stanley Boots

on 6 October 2017

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Transcript of Analysis of an eco-tourism PPP

Purpose of our analysis:

Examine potential usage of a streamlined toolkit for public projects (PPP, Socialization, Public Procurement)
Analyze potential projects for suitability as small scale PPPs
Apply toolkit approach to a potential project

Important notes:

This project is hypothetical but possible
This project is NOT about the Son Tra masterplan or allocation of land use rights
This project is analyzed from a private sector and PPP development perspective only
We assume the need and importance of conservation is already recognized

Every good PPP should address a public need and offer innovation and value for money


Why a tourism PPP?
Leverages private sector expertise, innovation and financing
Can clearly identify outputs that meet public needs
Brings together necessary skills
Financial viability
Potential revenue sharing with City
Addresses need for controlled tourism growth and conservation on Son Tra

Rapid Tourism Growth on Son Tra
Basic Project Concept
Develop environmental center and animal rescue center at edge of Son Tra Nature Reserve
Operate tours
Conservation and science
Educational opportunities
Generate revenue from tourism
Share excess revenues with City
PPP Structure
Public Sector Role
Grant long term concession
Support licensing and permits
Promote favorable policies
Monitor performance

Private Sector Role
Bring correct skills
Design, finance, build, operate Project
Deliver specified outputs
Return excess revenue back to City

Project Analysis & Findings
Legally compatible
with existing laws
Sized to fit into
Group C small scale PPP
~$2 million
investment cost
Investment recovered
in 3.5 years
45%IRR
Annual Revenue Potential
~50 BILLION VND
BY Y4
LEGAL ANALYSIS
PPP
Criteria
Master
Plans
PPP
Contract
BOT type
15+ years
Design, finance, build, operate assets
City provides or leases land to operator
User fees--entrance fees, tour fees and merchandise
Revenue sharing above target IRR
Transfer to City at end of term
Extendable term
Rebid project at end of term or extend if performance requirements are met
BOO Type
Needs longer period such as 30+ years
Design, finance, build, own, operate assets
City provides or leases land to operator
User fees--entrance fees, tour fees and merchandise
Revenue sharing above target IRR
No transfer
--City buys out at end of term
Extendable term--possible renegotiation of land lease
15+ years
Design, finance, build, operate assets
Lease fees paid to City for land use
User fees--entrance fees, tour fees and merchandise
Revenue sharing above target IRR
Transfer to City at end of term
Extendable term
Rebid project at end of term or extend if performance requirements are met
Lease Type
(BLT/BTL)
Social Economic Benefits
Improves City's tourism offerings
Estimate 200 jobs to be created
Manage tourist numbers on the peninsula
Better monitoring of poaching and illegal activities
Supports conservation activities off City's budget
Potential direct revenue for City
Ecotourism is proven to generate substantial socio-economic benefit
Protected Areas (with eco-tourism) generate...
$600 Billion
in socio-economic benefits annually
for a cost of $10 Billion
60X ROI
DEVELOPMENT PATHWAY
Today's workshop
City approval to
test as a pilot
Select modality
PPP v. Socialization
PPP
Selection of project
Prime Minister approval for this new sector
Publication
Project Proposal under D 15
Competitive Bidding
Contracting
Investment Procedures
Implementation and Monitoring
Socialization
Identification of project
Publication not required
Construction feasibility study
Investor selection/appointment
Contracting
Establish socialized enterprise (optional)
Project proposal or feasibility study
Investor
selection
Contract
Implementation
Son Tra Eco-tourism PPP

Preliminary Analysis
of a Proposed
Small Scale PPP
Project
2017
2030
x 100
x 100
PPP
Contract
Applying the Toolkit
TOOLKIT
Guidelines
Project Proposal
Template
Bidding Documents
Contract
Project Selection
Project Analysis
Investor Selection
Project Outputs
Q&A
Conservation Group
Technical know how
Science
Education
Environmental monitoring
Credibility
Tourism Company
Sector expertise
Business management
Business development
Logistics
Integration into greater tourism market
Impact Investment Fund
Green financing
Fiscal oversight
Financial expertise
Full transcript