The IRU Secretary General outlined three key criteria that ensure the effectiveness of transport investments at the Summit on Global Investment and Financing in the Transport Sector, which took place today.
Transport is one of the most important areas for investments that contribute to economic and social prosperity. However, resources are limited. It is therefore crucial to strategically attract, assess, manage and measure financial investments in the sector.
What constitutes strategic transport investment? The IRU outlined the relevant parameters on the first day of the Global Transport Investment and Financing Summit, taking place in Beijing, China.
IRU Secretary General Humberto de Pretto, delivering a keynote address at the opening plenary session, said: “Effective transport investment is not limited to infrastructure. It also needs to consider how infrastructure is integrated into wider networks and, crucially, how people and businesses use it.”
Umberto de Pretto
“From an operational perspective, success in commercial road transport is determined by efficiency and sustainability. Both of these indicators clearly indicate the need for a comprehensive approach. Therefore, any investment in transport needs to consider both the physical infrastructure and the intangible aspects of connectivity,” he added.
Investment decisions in transport systems should:
Use international standards: Incorporating international standards into investment decisions from the outset is essential to ensure efficient and sustainable road transport. One of the most important is the standards governing transit transport, such as the TIR system used when crossing borders.
Ensure intermodality: All modes of transport should work together to provide flexible and cost-effective transport services. Road transport provides door-to-door delivery and connects other modes of transport. In many cases, it is the only way to organise the initial and final stages of transport.
Involve all parties: The public and private sectors have been jointly financing and implementing transport investment projects for many years. However, the assessment of such projects also needs to take into account the views of users, such as road transport operators, so that investments are relevant to the realities on the ground.
A prime example of a solution in the field of intangible connectivity is the TIR global transit system. China joined this system less than a decade ago, but has already demonstrated significant progress. sity in using TIR to speed up and improve the security of trade flows, especially along the western routes along the Belt and Road corridors to Central Asia and beyond to Europe. This integrated approach has allowed China to make the most of investments in physical infrastructure.
“For investments to bring real economic and social returns, they must foresee both physical infrastructure and intangible connectivity from the outset,” said Humberto de Pretto. “Successful investments are based on international standards, promote intermodality and involve transport operators in project development and decision-making.”
“Let us work together to ensure that investments in adequate transport infrastructure, connectivity and services benefit our economies and citizens,” he said.
The Global Transport Investment and Financing Summit is organized by the Ministry of Transport of China and IRU member, the Global Sustainable Transport Innovation and Knowledge Center (GSTIKC).