中国企业以TOT模式投资越南基础设施的风险管理

【作者】 李业长；

【导师】 王松江；

【作者基本信息】 昆明理工大学 ， 技术经济与管理， 2006， 硕士

【摘要】 伴随着中国“走出去”发展战略的实施以及中国—东盟自由贸易区建设进程的不断推进,中国与越南经贸合作也在不断深入发展。中国企业对越南直接投资具有多方面的意义,以TOT模式投资越南基础设施更是一种全新的尝试,机遇与风险并存。TOT作为一种新型的项目融资模式,主要应用于基础设施等领域的建设。因为TOT融资模式能有效盘活基础设施存量资产,解决政府建设和维护基础设施资金不足的问题,故在发展中国家有着广泛的应用前景。但是,TOT项目的投资者也面临着复杂的风险情况。中国企业投资越南基础设施TOT项目,必须全盘考虑项目中的风险问题,实施科学的风险管理,才能保证项目实施的成功。 本文首先分析中国企业投资越南的背景和机遇,适时提出TOT投融资模式,并充分论证越南实施TOT项目的必要性、可行性以及中国企业投资越南基础设施TOT项目对于自身发展的重要意义。接着,论文运用项目融资、项目风险管理以及技术经济学等学科的理论与方法,对中国企业以TOT模式投资越南基础设施的风险管理框架体系进行研究并予以规划。最后,结合越南的投资环境与项目风险形势,有针对性地为中国投资者在越南投资TOT项目提供全面的风险管理策略与相关建议。 本文重点在于研究论证中国企业以TOT模式投资越南基础设施的可行性、分析越南的投资环境及风险形势,为中国投资者提供一整套的风险管理办法和对策措施。更多还原

【Abstract】 Along with the implementation of China’s "Walking Out" Development Strategy and the advancing of the construction of China—ASEAN Free Trade Area, the cooperation of economy and trade between China and Vietnam is also continuously expanding. China’s direct investment in Vietnam has great significance in many aspects. Meanwhile, it is a kind of brand-new attempt for China’s enterprises to invest in Vietnamese infrastructure projects by TOT mode, in which opportunities and risks coexist. As a kind of new-type project financing mode, TOT mode is mainly applied in the construction fields of the infrastructure and etc. Because TOT project financing mode can effectively vitalize the existing assets of infrastructure and solve the problem that governments lack funds in building and maintaining infrastructure projects, it has extensive application prospects, especially in developing countries. On the other hand, however, investors of TOT project face complicated risk situation. When Chinese enterprises invest in TOT projects of Vietnamese infrastructure, they must take overall consideration on the risk question in the project and scientifically manage the risks, through which they could guarantee the success of project implementation.This thesis at first analyses the background and opportunities that Chinese enterprises invest in Vietnam, timely proposes TOT mode of investing and financing. Then, the thesis fully demonstrates the necessity, feasibility of the implementation of TOT projects in Vietnam and the importance for Chinese enterprises when investing in TOT projects of Vietnamese infrastructure. After that, based on the theory and method in such subjects as Project Financing, Project Risk Management and Technological Economics, and etc, the thesis researches and plans the risk management framework system for Chinese enterprises investing Vietnamese infrastructure projects by TOT mode. Finally, combined the investment environment and risk situation of Vietnam projects, the thesis offers overall risk management tactics as well as concerned advises for those Chinese investors who will invest in Vietnam by TOT mode.The focal points of this thesis lie in studying and proving feasibility that Chinese enterprises invest in Vietnamese infrastructure projects by TOT mode, analyzing the investment environment and risk situation of Vietnamese, offering a whole set of risk management methods and countermeasures for Chinese investors.更多还原