Thạc Sĩ Risk mitigation in project financing in vietnam: From lenders’ perspectives in the private sector

Table of Contents

Chapter Title Page

Acknowledgement i
Abstract ii
Table of Contents iii
List of Tables v
List of Figures vi
1. Introduction 1
1.1 Rationale 1
1.2 Statement of Problem 2
1.3 Objectives 2
1.4 Scope 2
1.5 Organization of the Research 2
2. Literature Review 4
2.1 Concept of Project Financing 4
2.2 Parties Involved in Project Financing 5
2.3 Project Financing Structures 7
2.4 Risks Involved in Project Financing 7
2.5 Managing Project Risks 9
3. Methodology 14
3.1 Analytical Model 14
3.2 Data 16
4. Country Environment 17
4.1 Political Environment 17
4.2 Macroeconomic Environment 18
4.3 Infrastructure 19
4.4 Market Opportunities 19
5. Key Parties in Project Financing in the Context of Vietnam 21
5.1 Government 21
5.2 State Owned Enterprises (SOEs) 21
5.3 Private Businesses 22
5.4 Foreign Direct Invested (FDI) Companies 22
5.5 Banks in Vietnam 23
5.6 International Finance Corporation (IFC) in Vietnam 25
6. Case CSM: Description 28
6.1 Profile of CSM Project 28
6.2 Financing Structure 29
6.3 Special Agreements 31
7. Case CSM: Risk Analysis 33
7.1 Risk Identifications in CSM Project 33
7.2 Protection of Project Cash Flow 38
7.3 Loan Security Package 44
7.4 Major Difficulties for Lenders in the CSM Project 46
7.5 Comments on Project Financing in the case of CSM 49
8. Conclusions and Recommendations 51
8.1 Limitation 51
8.2 Major Findings about Country Environment and Key Parties in the Context of Vietnam 51
8.3 Major Findings Related to the CSM Case 52
8.4 Recommendations 54
8.5 Recommendations for Further Studies 55

Abbreviation 56
Reference 57
Appendix 57