During the planning and controlling of the construction process, most attention is focu sed on risk analysis, especially in the context of final costs and deadlines of the investment. In this analysis, the primary and most significant concern is the proper identification and quantification of events, which on a certain level of probability may affect the development process. This paper presents the result of a risk analysis for a particular building object, made after completion of the investment and accepting it for use. Knowledge of the planned values and the actual investment process allowed for the identification of the events and their effects that in this case have significantly disrupted the investment process. The limited total cost of the investment project in question had a considerable impact on the progress of the project execution. Despite three transitions of administrative procedures, the opening date of the shopping centre was delayed by only three weeks.
The idea of a Multilateral Investment Court seems to be one of the most prominent initiatives of the “multilateralization” of international investment law during this century. The creation of a new international, permanent court concentrated on settling investor – state disputes is an extraordinary challenge. Possible problems relate not only to the negotiations concerning the organizational and procedural aspects necessary to ensure the efficient operation of this type of body. It is also necessary to take into account the dynamics of the functioning of international adjudication as such, as well as the controversies surrounding the international legal protection of foreign investments.
This article explores investment protection under Chinese international investment agreements (IIAs), particularly under the China-Poland bilateral investment treaty (BIT). As a state that both imports and exports foreign direct investment, China currently promotes balanced and safeguarded BITs that protect its increasing overseas investments and preserves the necessary space to regulate in the public interest. The Chinese government remains reluctant to be directly involved in investment arbitration as a respondent, while Chinese investors are active in taking advantage of the IIAs’ regime. When compared to China’s recent treaty practice and new developments in global investment governance, the China-Poland BIT is relatively outdated in terms of investment protection, promotion, social clauses, and dispute settlement. In terms of the investment protection effects of BITs, China is seemingly in a more urgent position to update the China-Poland BIT. However, if we evaluate the overall effects of a modernized BIT on investment promotion, regulation, and dispute settlement, an updated China-Poland BIT will fit the interests of both the Polish and Chinese governments. Notwithstanding the on-going negotiation between the EU and China, this article aims, along with presenting the Chinese practice regarding BITs, to describe de lege lata the state of protection offered to Chinese and Polish investors under the China-Poland BIT.
This article presents the results of studies assesing the significance of the most important macro- and microeconomic factors affecting investors’ propensity to invest in mining. The Polish mining industry in recent years has seen intensive restructuring processes which have considerably affected the status of fixed assets required for the exploitation of useful minerals. In order to efectively manage technological progress in mining plants, it is necessary to understand the role of individual, variable factors influencing investors’ propensity tomake specific expenditures. In the analysis, mathematical statistics and econometric modelling methods were applied to determine the nature of correlations between the values studied and their significance. This examination applied statistical data accumulated by economic entities from 2000–2010. A linear econometric model waspresented illustrating the relationship between capital expenditure in mining and such indicators as fixed assetsvalue, GDP, real interest rate, consumption levels of fixed asset components in mining, and various other factors. Structural parameters of a function specifying the level of investment expenditure can be determined based on statistical data which has been appropriately processed so that the model constructed reflects the economic process studied in relevant way.
Such a model is not free of defects typical in statistical models; however, it simultaneously enables one toobtain valuable information concerning the impact of the factors studied on the value of such expenditure, and the theoretical possibilities to exchange the specific quantity of one factor for another factor. In the final version of the model, it is often sufficient to include only these independent variables which contribute the most essential information to the independent variable. This often simplifies the final form of the model without simultaneous limiting of its importance in explaining the economic phenomenon studied and the possibilities of its practical application. In the final selection of significant variables captured in the model, the method of information capacity indicators was used.
The article presents the role of the ceramic layered moulds used in the investment casting method with new (certified) and recycled material from ceramic moulds (CM) after casting process. The materials that were obtained are mainly aluminosilicates and SiO2. The investigation of changes in the quality of ceramic moulds (including the recycled ceramic material) includes the chemical composition of the ceramics as recovered ceramic material, changes in the particle size of the layered covering material, the gas permeability during the pouring of liquid metal, and the creation of the porosity are presented. Than the thermophysical parameters and dimensional accuracy of the casting manufactured in the new ceramic layered shell moulds were analysed. Additionally the global cost savings and improved ecological conditions in the foundry and its surroundings was estimated.
The fact that mines have to be established at the place where they are located without having a chance to choose a location brings out area usage conflicts with areas that need to be protected. In fact, forestlands are most common in these overlapping areas in Turkey. In order to perform mining activities in this overlapping forestlands, mining enterprises in Turkey receive forest land permit fees (FLPF), reforestation fees, rehabilitation fees + security deposit of conformity to the environment (SDCE), and other fees. In order to determine the share of these costs in mining investments and operating costs (OC) and to bring a solution proposal so that these costs do not pose a risk of loss of the investment in the mining enterprises, questions have been asked to mining enterprises within Turkey using the “Survey Monkey” program. The averages of all forest fees determined from the answers are proportioned to the mining investment amounts (MIA) and the annual average OC of each mining company responding to the Survey.
Thus, the distribution criteria of different forest fees that are required to be paid by the mining enterprises in order to carry out mining operations in the forestlands in Turkey and their distribution on the basis of mineral groups were analyzed. In this calculation, it was suggested that all the fees in Turkey should be reduced to a more reasonable degree by suggesting solutions regarding the calculation method envisaged by the FLPF, which has a very high share. Otherwise, the result of these rates shows that the costs of forest land-use for mining stipulated by the legislation in Turkey are quite high compared to other countries, and that the current mining investments can have difficulty in maintaining their economic operability in the presence of these required costs.
The successful design and implementation of hydroengineering projects crucially rests upon three collaborative pillars of research: field observations, physical models, and mathematical models.
The effect of cobalt aluminate inoculant addition and melt-pouring temperature on the structure and mechanical properties of Ni-based superalloy was studied. The first major move to control the quality of investment cast blades and vanes was the control of grain size. Cobalt aluminate (CoAl2O4) is the most frequently utilized inoculant in the lost-wax casting process of Ni-based superalloys. The inoculant in the prime coat of moulds and pouring temperature play a significant role in grain size control. The finest surface grains were obtained when the internal surface of shell mould was coated with cobalt aluminate and subsequently pouring was at 1480°C. The influence of selected casting parameters and inoculant addition on mechanical properties was investigated on the basis of tensile, creep and hardness testing. The effect of grain refinement on mechanical properties were consistent with established theories. Tests conducted at ambient temperature indicated a beneficial effect of grain refinement both on tensile strength and hardness. In contrast at elevated temperature during creep, the reverse trend was observed.
Foreign direct investment (FDI) and foreign portfolio investment (FPI) have been long considered as independent forms of international capital flows. This paper analyzes the mutual relationship between FDI and FPI and attempts to answer the question whether they complement or substitute for each other from a foreign investor’s point of view. The paper describes the main characteristics of FDI and FPI in terms of their volatility and profitability. We analyze the long-run and short-run relationships between FDI and FPI using vector error correction (VEC) regressions on data for Poland as it is the largest country in Central and Eastern Europe and receives the lion’s share of these two forms of capital in the region. Our investigation suggests that FDI and FPI may be regarded as substitutes. In economically stable periods FDI tends to dominate over FPI but during insecurity and economic distress FPI starts to gain importance.
The article reviews the integrated territorial investments carried out in the Opolskie Voivodeship in the financial perspective 2014-2020. The object of the analysis was the Opole Agglomeration as the only of five functional areas of the Opolskie Voivodeship, where beneficiaries of funds from European Funds are located within this investment policy development policy.
The aim of this article is to identify the role, that special residential law issued by the municipal executive authorities plays in the metropolises development. The article presents key urban and legal barriers related to the functioning of the spacial management system. The article ends with recommendations for further actions related to repair local spatial policy.
Today’s cities tend to “pour out” beyond their administrative boundaries. This phenomenon is related to the settlement of people “from the city” in neighboring municipalities, or taking up jobs in cities by people living in neighboring municipalities. This has been recognized in the European Union, which has introduced appropriate legal instruments for cohesion policy. Integrated Territorial Investments were introduced to the EU cohesion policy for the fi rst time in the 2014-2020 fi nancial perspective. Their goal was to intensify cooperation between cities and their functional areas. Unfortunately, the emerging information about diffi culties in implementing ITIs often become the basis for considering this idea ineff ective. The purpose of the work is qualitative and quantitative verifi cation of the operation of ITU based on selected data, so that it is possible to answer the question about the validity of the existence of this instrument.
The study presents the critical evaluation of existing drainage systems from legal, eco-nomical, environmental and technical viewpoints. Nearly 80% of agricultural land in Lithuania drained by underground drainage systems covers around 3 million hectares. The prevailing large scale drainage systems with a complex of engineering structures such as conducting ditches, drains and collectors, local roads, bridges or farm road-crossings, dikes, dams, water reservoirs, pumping stations for irrigation and for drainage need today an efficient management solution in a new economic situation. The detailed analysis of legal and economic instruments adopted in transferring the management responsibilities of drainage systems to users has been carried out. The study resulted in a number of practical contributions towards the amendments in the Law on Land Reclamation in Lithuania and the establishment of a system of indicators that would allow rationalisation of subsidy allocations for the maintenance and improvement of the drainage systems. These subsidies from the state budget make at the moment the largest share among the investment sources. The financial and in kind contribution of drainage users is permanently increasing as are the allocations of the structural funds for public projects. The EU pre-accession programme SAPARD started in 2000 has supported some investments in rural areas. Unfortunately, it did not support the drainage infrastructure properly. A critical review of previous measures allowed suggesting new actions within the framework of the actual support from EU structural funds.
In modern conditions of urban development, there is a need to improve the technology for determining the investment attractiveness of urban lands by developing a method and models for assessing its impact, which will be based on the construction of a two-level system of indicators, which will determine the integral investment criterion and develop guidelines for improving the investment attractiveness of urban lands. As a result of the research, the value of the integral indicator of urban land investment attractiveness was determined, which allowed to apply it in the system of normative monetary valuation of urban land and to develop methodological recommendations for improving the efficiency of its investment attractiveness assessment. A method for assessing the investment attractiveness of urban land, as the main element of technology, based on the determination of indicators for assessing the integral criterion for the development of guidelines for improving the urban land investment attractiveness is developed. By the value of the integral criterion, the integral indicators of the potential investment attractiveness of urban lands are determined, considering the changes in the normative monetary value of the lands of settlements and the level of investment attractiveness of the regional centers of Ukraine is determined.