While infrastructure provides necessary public services and is vital for the socio-economic development of a nation, public funds alone cannot finance all infrastructure needs in society, especially after the COVID-19 pandemic, where many countries are facing budget deficits. Although private financing schemes, such as public-private partnerships (PPPs) and land value capture, have been considered intensively, they have yet to produce adequate private capital flows to infrastructure projects due to a lack of incentives for private investors. Against the background, this paper proposes a new financing mechanism in which governments might divert some of the increased tax revenue from the spillover effects of newly constructed infrastructures to fund the private sector through grants or subsidies. The empirical work in Vietnam shows a significant increase in tax revenues after completing two expressways, supporting our idea about spillover effects, which includes small- and medium-sized enterprise (SME) development. This study’s results suggest that spillover effects can bring new opportunities for governments and multilateral development banks (MDBs) to implement infrastructure projects with greater private sector involvement in the region. It also proposes some financial schemes, such as land capture and financing for business startups, including SMEs, to enhance the spillover effects of infrastructure.

With the implementation of China’s national strategy of “Culture Going-out”, it is important to translate Qingdao folk culture well in order to promote the effective communication of Qingdao folk culture worldwide. However, the uniqueness of folk culture poses certain difficulties for translation. Skopos theory can effectively guide the translation of Qingdao folk culture. From the perspective of this theory, the author analyzes the principles and strategies of English translation of Qingdao folk culture and proposes four translation methods, such as literal translation with notes, equivalent translation, phonetic translation with notes and free translation. Translators can choose the appropriate translation methods according to specific translation purposes.

This study analyzes the perception of university students regarding the use of virtual reality (VR) in higher education, focusing on their level of knowledge, usage, perceived advantages and disadvantages, as well as their willingness to use this technology in the future. Using a mixed-methods approach that combines questionnaires and semi-structured interviews, both quantitative and qualitative data were collected to provide a comprehensive view of the subject. The results indicate that while students have a basic understanding of VR, its use in the educational context is limited. A considerable number of students recognize VR’s potential to enhance the learning experience, particularly in terms of immersion and engagement. However, significant barriers to adoption were identified, such as technical issues, the high cost of equipment, and inadequate access to technological infrastructure. Additionally, there is a need for broader training for both students and faculty to ensure the effective use of this technology in academic environments. The semi-structured interviews confirmed that perceptions of VR vary depending on prior exposure to the technology and access to resources. Despite the challenges, most students appreciate VR’s potential to enrich learning, although its effective adoption will depend on overcoming the identified barriers. The study concludes that strategies must be implemented to facilitate the integration of VR into higher education, thus optimizing its impact on the teaching-learning process.

The policy to accelerate the design of the Detailed Spatial Plan regulation document (RDTR) is a strategic step to enhance ease of doing business and promote sustainable development in Indonesia. Targeting 2036 RDTR sites nationwide, the initiative relies on various policy interventions and technical approaches. However, as of 8 January 2024, only 399 RDTRs (19.59%) were enacted after four years of implementation. This underperformance suggests the need to examine factors influencing the process, including issues at each stage of the RDTR design business process. While often overlooked due to its perceived irrelevance to the core substance of planning, analyzing the process is crucial to addressing operational and procedural challenges. This research identifies critical issues arising from the preparation to the enactment stage of RDTR regulations and proposes necessary policy changes. Using an explanatory approach, the study employs methods such as Analytic Hierarchy Process (AHP), post-review analysis, stakeholder analysis, business process evaluation, and scenario planning. Results show several impediments, including challenges related to commitment, technical and substantive issues, managerial coordination, policy frameworks, ICT support, and data availability. These findings serve as inputs for the development of business process improvement scenarios and reengineering schemes based on Business Process Management principles.

Cross-border infrastructure projects offer significant economic and social benefits for the Asia-Pacific region. If the required investment of $8 trillion in pan-Asian connectivity was made in the region’s infrastructure during 2010–2020, the total net income gains for developing Asia could reach about $12.98 trillion (in 2008 US dollars) during 2010–2020 and beyond, of which more than $4.43 trillion would be gained during 2010–2020 and nearly $8.55 trillion after 2020. Indeed, infrastructure connectivity helps improve regional productivity and competitiveness by facilitating the movement of goods, services and human resources, producing economies of scale, promoting trade and foreign direct investments, creating new business opportunities, stimulating inclusive industrialization and narrowing development gaps between communities, countries or sub-regions. Unfortunately, due to limited financing, progress in the development of cross-border infrastructure in the region is low.

This paper examines the key challenges faced in financing cross-border projects and discusses the roles that different stakeholders—national governments, state-owned enterprises, private sector, regional entities, development financing institutions (DFIs), affected people and civil society organizations—can play in facilitating the development of cross-border infrastructure in the region. In particular, this paper highlights the major risks that deter private sector investments and FDIs and provides recommendations to address these risks.

Public-Private Partnerships (PPPs) can be an effective way of delivering infrastructure. However, achieving value for money can be difficult if government agencies are not equipped to manage them effectively. Experience from OECD countries shows that the availability of finance is not the main obstacle in delivering infrastructure. Governance—effective decision-making—is the most influential aspect on the quality of an investment, including PPP investments. In 2012, the OECD together with its member countries developed principles to ensure that PPPs deliver value for money transparently and prudently, supported by the right institutional capacities and processes to harness the upside of PPPs without jeopardizing fiscal sustainability. Survey results from OECD countries show that some dimensions of the recommended practices are well applied and past and ongoing reforms show progress. However, other principles have not been well implemented, reflecting the continuing need for improving public governance of PPPs across countries.