11 bp De Wederloop fase 1 (6 regels bijlage 1 Structuurvisie Buitengebied)

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN

MDQXDUL

+DUWYHURYHUHQGH+HHUO\FNKHLW



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN

,QRSGUDFKWYDQ *HPHHQWH+LOYDUHQEHHN

'RRU 3RXGHUR\HQ&RPSDJQRQV 3URMHFWQXPPHU 1LMPHJHQMDQXDUL





6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

,1+28'  ,1/(,',1*    



 -RQJHRQWJLQQLQJVODQGVFKDS







 %RVHQQDWXXUJHELHGHQ





 9$%·VELQQHQEHERXZLQJVFRQFHQWUDWLHVHQ



$DQOHLGLQJ 



 :HWWHOLMNNDGHU:HWUXLPWHOLMNHRUGHQLQJ



 6DPHQKDQJPHWEHVWDDQGEHOHLGHQ



5XLPWHYRRU5XLPWH

 &RQFOXVLH

 8LWJDQJVSXQWHQ





 2S]HW



  217:,..(/,1*602*(/,-.+('(1(1 





EHVWHPPLQJVSODQ



  7(*(135(67$7,(6   *(%,('6%(6&+5,-9,1*



 $DUGHQRPYDQJUXLPWHOLMNHRQWZLNNHOLQJHQ



 %HHNGDOHQ



 9HUWDOLQJQDDWFDWHJRULHsQRQWZLNNHOLQJHQ



 .DPSHQHQ+RHYHQODQGVFKDS



 %HSDOHQEHVWHPPLQJVZLQVW



 2XGHRQWJLQQLQJVODQGVFKDS



 %HSDOHQWHJHQSUHVWDWLH



 -RQJHRQWJLQQLQJVODQGVFKDS



 %RVHQQDWXXUJHELHGHQ



  8,792(5,1*63$5$*5$$)



 %LM]RQGHUHJHELHGHQ



 5ROYDQGHJHPHHQWH



 5XLPWHOLMNHRQWZLNNHOLQJHQ

  9,6,(



 3ODWWHODQGVHFRQRPLHHQIXQFWLHNDGHU



 /DQGVFKDS



 %HHNGDOHQ



 .DPSHQHQ+RHYHQODQGVFKDS



 2XGHRQWJLQQLQJVODQGVFKDS









 .ZDOLWHLWVYHUEHWHULQJYDQKHWEXLWHQJHELHG

 



/XFKWIRWRJHPHHQWH+LOYDUHQEHHN



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 ,1/(,',1*

 $DQOHLGLQJ

'DDUZDDUNDQVHQHQYRRUZDDUGHQYROGRHQGHREMHFWLYHHUEDDU

+LOYDUHQEHHNNHQWQDDVWGHKRRIGNHUQHQGHNOHLQHUHNHUQHQ

]LMQYDVWWHOHJJHQLQEHVWHPPLQJVSODQUHJHOVLVGLWJHGDDQ

HHQ JURRW ODQGHOLMN JHELHG ZDDULQ YHHO RQWZLNNHOLQJHQ

LQGHYRUPYDQELQQHQSODQVHDIZLMNLQJVRIZLM]LJLQJVUHJHOV

JDDQGH ]LMQ 'H IXQFWLHYHUDQGHULQJHQ HQ G\QDPLHN LQ GH

'DDUELMZRUGWXLWJHJDDQYDQKHWSURSRUWLRQDOLWHLWVSULQFLSH

DJUDULVFKHHQUHFUHDWLHYHVHFWRUQDWXXURQWZLNNHOLQJHQGH

GH RPYDQJ YDQ GH YRRUZDDUGHQ HQ EDVLVLQVSDQQLQJ

ZHQVRPGHODQGVFKDSSHOLMNHZDDUGHQWHEHKRXGHQYUDDJW

KHW LQLWLDWLHI HQ GH LPSDFW RS  GH RPJHYLQJ VWDDQ LQ

RPHHQVDPHQKDQJHQGHYLVLHRSUXLPWHOLMNHRQWZLNNHOLQJHQ

YHUKRXGLQJWRWHONDDU9RRUGHPHHUJURRWVFKDOLJHHQZHLQLJ

HQUXLPWHOLMNHNZDOLWHLWYDQKHWEXLWHQJHELHG

YRRUNRPHQGHRQWZLNNHOLQJHQLVPDDWZHUNQRGLJ'LWLVQLHW LQ DOJHPHQH SODQUHJHOV WH YDWWHQ HQ ]DO GDDURP EOLMYHQG

'H JHPHHQWH +LOYDUHQEHHN ]DO YRRU  MXOL  KDDU EHVWHPPLQJVSODQ

EXLWHQJHELHG

DFWXDOLVHUHQ

EXLWHQSODQVPRJHOLMNJHPDDNWZRUGHQ

'H]H

DFWXDOLVDWLH LV WZHHOHGLJ FRQWLQXHUHQ YDQ EHVWDDQGH

:HOYUDDJWGHSURYLQFLHDDQJHPHHQWHQRPGHNDQVHQYRRU

SODQRORJLVFKH UHFKWHQ EHOHLGVQHXWUDDO DFWXDOLVHUHQ  HQ

RQWZLNNHOLQJLQKHWEXLWHQJHELHGWHEDVHUHQRSHHQYLVLHRS

EHOHLGVDDQSDVVLQJZDDUGDWPRJHOLMNRIYHUHLVWLVRSEDVLV

GHRQWZLNNHOLQJYDQGHSODWWHODQGVHFRQRPLHLQGHJHPHHQWH

YDQ PDDWVFKDSSHOLMNH YUDJHQ ZHQVHQ HQ QRRG]DNHOLMNH

HQ RS GH ZLM]H ZDDURS GH UXLPWHOLMNH NZDOLWHLW YDQ KHW

G\QDPLHN HQ YDQZHJH GH GRRUZHUNLQJ YDQ GH SURYLQFLDOH

ODQGHOLMNJHELHGNDQZRUGHQYHUVWHUNW2SEDVLVYDQGHYLVLH

9HURUGHQLQJ 5XLPWH 95  'LW OHLGW HUWRH GDW GH JHPHHQWH

NDQGHJHPHHQWHDDQLQGLYLGXHQRQWZLNNHOLQJVPRJHOLMNKHGHQ

GHSODQV\VWHPDWLHNWRWRS]HNHUHKRRJWHKHHIWDDQJHSDVW

ELHGHQ]RODQJGLHPDDUYHUJH]HOGJDDQYDQYHUVWHUNLQJYDQ

GDDU ZDDU KHW RXGH EHVWHPPLQJVSODQ YRRUDO XLWJLQJ YDQ

GHSODWWHODQGVHFRQRPLHHQRIGHUXLPWHOLMNHNZDOLWHLW

¶JHELHGHQ HQ YHUELHGHQ· ELHGW QLHXZH EHVWHPPLQJVSODQ NDQVHQPDDUGDQZHOJHNRSSHOGDDQYRRUZDDUGHQ



=RZHO GH LQGLYLGXHOH RQWZLNNHOLQJVPRJHOLMNKHGHQ DOV GH

 :HWWHOLMNNDGHU

ELMEHKRUHQGHWHJHQSUHVWDWLHVPRHWHQQDDUDDUGHQRPYDQJ

  :HWUXLPWHOLMNHRUGHQLQJ

REMHFWLYHHUEDDUHQDIGZLQJEDDU]LMQ

'H EHODQJULMNVWH DDQOHLGLQJ YRRU KHW RSVWHOOHQ YDQ GH]H

'LWDOOHVLVYDVWJHOHJGLQYRRUOLJJHQGH6WUXFWXXUYLVLH

VWUXFWXXUYLVLHLVGHZHWVZLM]LJLQJLQ'H:HWUXLPWHOLMNH RUGHQLQJ NHQW DDQ GH VWUXFWXXUYLVLH HHQ ZHWWHOLMN ELQGHQG

'HGRHOVWHOOLQJYDQGHSURYLQFLHLVGDWUHJLRQDDODIVSUDNHQ

NDGHUWRHYRRUUHJXOHULQJYDQUXLPWHOLMNHRQWZLNNHOLQJHQ'H

ZRUGHQ JHPDDNW RYHU GH WRHSDVVLQJ YDQ GH ]RUJSOLFKW HQ

VWUXFWXXUYLVLHLVYRUPYULMGHLQYXOOLQJLVDDQGHJHPHHQWH

GHLQ]HWYDQGHODQGVFKDSVLQYHVWHULQJVUHJHOLQJ,QGHUHJLR +DUW YDQ %UDEDQW ZDDU +LOYDUHQEHHN WRH EHKRRUW ZRUGW

(HQVWUXFWXXUYLVLHNDQVHFWRUDDOYDQDDUG]LMQHQELMYRRUEHHOG

JHZHUNWDDQKHWPDNHQYDQUHJLRQDOHDIVSUDNHQ9DQZHJHGH

DOOHHQ GH JHZHQVWH UXLPWHOLMNH RQWZLNNHOLQJHQ YRRU HHQ

EHVWXXUOLMNYDVWJHOHJGHGRRUORRSWLMGYDQKHWJHPHHQWHOLMNH

EHSDDOGH SHULRGH ELMYRRUEHHOG GH NRPHQGH  j  MDDU 

EHVWHPPLQJVSODQ PHW DOV EHODQJULMN XLWJDQJVSXQW GH

EHVFKULMYHQ 2RN LV KHW PRJHOLMN LQ HHQ VWUXFWXXUYLVLH HHQ

ZHWWHOLMNH YHUSOLFKWLQJ WRW DFWXDOLVDWLH HQ GH XLWHUVWH

UHODWLH WH OHJJHQ WXVVHQ GH RQWZLNNHOLQJVPRJHOLMNKHGHQ

YDVWVWHOOLQJVGDWXPYDQMXOLLVKHWQLHWPRJHOLMNRPWH

SDUWLFXOLHUH LQLWLDWLHYHQ RS EDVLV YDQ KHW JHPHHQWHOLMNH

ZDFKWHQRSGHUHJLRQDOHDIVSUDNHQ'HJHPHHQWHEHVFKLNW

EHOHLGYRRUKHWEXLWHQJHELHG HQGHYRRUJHQRPHQUXLPWHOLMNH

PHW YRRUOLJJHQGH VWUXFWXXUYLVLH WLMGLJ RYHU GH YLVLH HQ KHW

YHUEHWHULQJVSURMHFWHQ LQ GLW JHYDO GH SURMHFWHQ XLW RD

ELMEHKRUHQGH LQVWUXPHQWDULXP GDW JHOLMNWLMGLJ PHW KHW

KHW 6WLND UHFRQVWUXFWLHSURMHFWHQ HQ GH UHVWRSJDYH (+6 

EHVWHPPLQJVSODQZRUGWYDVWJHVWHOG(HQHQDQGHUUHHGV]R

0HW GH]H VWUXFWXXUYLVLH NDQ GH JHPHHQWH +LOYDUHQEHHN

YHHODOVPRJHOLMNLQOLMQPHWKHWUHJLREHOHLGGDWLQPHL

SODQRORJLVFKHUXLPWHELHGHQDDQUXLPWHOLMNHRQWZLNNHOLQJHQ

LVYDVWJHVWHOGGRRUKHW552

HQ WHJHOLMN HHQ NZDOLWHLWVLPSXOV DDQ KHW EXLWHQJHELHG JHYHQ'HJHGDFKWHGDDUDFKWHULVGDWDDQHHQLQGLYLGXPHHU



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

PRJHOLMNKHGHQ ZRUGHQ JHERGHQ ZDDU WHJHQRYHU VWDDW GDW KLM GDQ RRN HYHQUHGLJ ELMGUDDJW DDQ GH PDDWVFKDSSHOLMNH ZHQVRPGHUXLPWHOLMNHNZDOLWHLWWHYHUVWHUNHQ

'HYRRUOLJJHQGHVWUXFWXXUYLVLHYRRUKHWODQGHOLMNJHELHGNHQW GDDUGRRUHHQVHFWRUDOHLQVWHHNGLHHHQPHHUJHGHWDLOOHHUGH

VWUXFWXXUYLVLH %HVWHPPLQJVSODQ EXLWHQJHELHG

6WLNDUHVWRSJDYH (+6

8LWYRHULQJ UHFRQVWUXFWLH

RQWZLNNHOLQJHQUXLPWHOLMNHNZDOLWHLW

XLWZHUNLQJEHYDWYRRUKHWEHOHLGYRRUKHWODQGHOLMNJHELHG GDQ GH JHPHHQWHOLMNH VWUXFWXXUYLVLH YDVWJHVWHOG GRRU GH

 6DPHQKDQJPHWEHVWDDQGEHOHLGHQ

JHPHHQWHUDDGIHEUXDULYRRUDOJHULFKWRSKHWVWHGHOLMN

  EHVWHPPLQJVSODQ

JHELHG  'H VWUXFWXXUYLVLH YRUPW GDDUELM KHW ¶ELQGHQGH

'HJHPHHQWHKHHIWLQKHWYHUOHGHQDOYHUVFKHLGHQHSODQQHQ

NDGHU·ZDDUPHHRQWZLNNHOLQJHQXLWKHWEHVWHPPLQJVSODQHQ

HQ YLVLHV RSJHVWHOG YRRU ODQGVFKDSSHOLMNH HQ NOHLQVFKDOLJH

VHFWRUDDOEHOHLGZRUGHQJHNRSSHOGDDQYHUEHWHULQJVRSJDYHQ

IXQFWLRQHOHRQWZLNNHOLQJHQLQKHWEXLWHQJHELHG]RDOVYRRU

LQGHYRUPYDQODQGVFKDSSHOLMNHNZDOLWHLW'HVWUXFWXXUYLVLH

GH ]XLGUDQG +LOYDUHQEHHN HQ GH ZHVWUDQG YDQ 'LHVVHQ

LV GDDUWRH HHQ QRRG]DNHOLMN LQVWUXPHQW HQ LV ELQGHQG YRRU

'DDUQDDVW LV EHOHLG RSJHVWHOG KHW UHFRQVWUXFWLHSODQ GH

GHRYHUKHLGHQYRRURQWZLNNHOHQGHSDUWLMHQ+HWYROJHQGH

UHJHOLQJ JURHQEODXZH GLHQVWHQ 6WLND  HQ GH JHPHHQWH

VFKHPD JHHIW GH VDPHQKDQJ ZHHU WXVVHQ GH VWUXFWXXUYLVLH

LV LQ  JHVWDUW PHW GH LQWHJUDOH KHU]LHQLQJ YDQ KHW

DOV ]LMQGH LQVWUXPHQW GDW GH VHFWRUDOH EHOHLGVVWXNNHQ

EHVWHPPLQJVSODQ EXLWHQJHELHG +HW GRHO YDQ YRRUOLJJHQGH

VDPHQKDQJ JHHIW OHLGHQG WRW RQWZLNNHOLQJHQ LQ KHW

6WUXFWXXUYLVLH LV RP GH VHFWRUDOH YLVLHV PHW HONDDU WH

EXLWHQJHELHGGLHJHSDDUGJDDQPHWNZDOLWHLWVYHUEHWHULQJ

YHUELQGHQHQRP]HLQRQGHUOLQJHVDPHQKDQJWRWXLWYRHULQJWH EUHQJHQ'HDFKWHUOLJJHQGHJHGDFKWHELMGH]H6WUXFWXXUYLVLH LV GDW ELM QLHXZH RQWZLNNHOLQJHQ LQ KHW EXLWHQJHELHG GH

9HURUGHQLQJ5XLPWH 'H9HURUGHQLQJ5XLPWH1RRUG%UDEDQWLVRSPHLGRRU3URYLQFLDOH6WDWHQYDQ1RRUG%UDEDQWYDVWJHVWHOGHQRSMXQLLQZHUNLQJ JHWUHGHQ,QGH]HSODQRORJLVFKHYHURUGHQLQJ]LMQDOJHPHQHUHJHOVRSJHQRPHQYRRUYHUVFKLOOHQGHUXLPWHOLMNHHQSODQRORJLVFKHRQGHUZHUSHQZDDUGH JHPHHQWHQUHNHQLQJPHHPRHWHQKRXGHQELMKHWRSVWHOOHQYDQEHVWHPPLQJVSODQQHQ &LWDDWXLWGHSURYLQFLDOHKDQGUHLNLQJ´'HNZDOLWHLWYDQKHWODQGHOLMNJHELHGLVEHODQJULMNYRRUHHQKRRJZDDUGLJOHHIHQYHVWLJLQJVNOLPDDWHQGUDDJW GDDUGRRUELMDDQGHHFRQRPLVFKHRQWZLNNHOLQJYDQ1RRUG%UDEDQW'RRUGHG\QDPLHNYDQRQWZLNNHOLQJHQRQWVWDDWKHWJHYDDUGDWGHYHUVFKLOOHQWXVVHQ VWDGHQODQGHQGHGLYHUVLWHLWYDQQDWXXUHQODQGVFKDSYHUORUHQJDDQ2PGHNZDOLWHLWYDQKHWODQGVFKDSWHYHUVWHUNHQKHHIWGHSURYLQFLHLQKDDU 6WUXFWXXUYLVLHUXLPWHOLMNHRUGHQLQJHQGH9HURUGHQLQJUXLPWHKHWSULQFLSHYDQ¶NZDOLWHLWVYHUEHWHULQJYDQKHWODQGVFKDS·JHwQWURGXFHHUGµ %HYRUGHULQJUXLPWHOLMNHNZDOLWHLW 'HSURYLQFLHZLOGHUXLPWHOLMNHNZDOLWHLWYDQ%UDEDQWEHYRUGHUHQ+HWJDDWKLHUELMRPDDQGDFKWYRRUGHNZDOLWHLWYDQHHQQLHXZHLQJUHHSHQDDQGDFKW YRRUGHRQWZLNNHOLQJYDQGHORFDWLH,QKDDUVWUXFWXXUYLVLHKHHIWGHSURYLQFLHKHWSURYLQFLDDOEHODQJPHWEHWUHNNLQJWRWUXLPWHOLMNHNZDOLWHLWRSKHW

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ÀQLHHUGDOVGHNZDOLWHLWYDQHHQJHELHGGLHEHSDDOGZRUGWGRRU GHPDWHZDDULQVSUDNHLVYDQJHEUXLNVZDDUGHEHOHYLQJVZDDUGHHQWRHNRPVWZDDUGH+LHUYRRULVLQGH9HURUGHQLQJHHQWZHHWDOVSHFLÀHNHDUWLNHOHQ RSJHQRPHQDUWLNHO¶]RUJSOLFKWYRRUUXLPWHOLMNHNZDOLWHLW·DOVPHGHDUWLNHO¶NZDOLWHLWVYHUEHWHULQJYDQKHWODQGVFKDS· 2S EDVLV YDQ GH ]RUJSOLFKW GLHQW LHGHU SODQ GDW YRRU]LHW LQ HHQ UXLPWHOLMNH RQWZLNNHOLQJ EXLWHQ EHVWDDQG VWHGHOLMN JHELHG YHUJH]HOG WH JDDQ YDQ

HHQYHUDQWZRRUGLQJRSZHONHZLM]HZRUGWELMJHGUDJHQDDQGH]RUJYRRUKHWEHKRXGHQGHEHYRUGHULQJYDQGHUXLPWHOLMNHNZDOLWHLWYDQKHWGDDUELM EHWURNNHQJHELHGHQGHQDDVWHRPJHYLQJLQKHWELM]RQGHUDDQKHWSULQFLSHYDQ]RUJYXOGLJUXLPWHJHEUXLN,QKHWSODQGLHQWYHUDQWZRRUGWHZRUGHQRS ZHONHZLM]HGHYHUHLVWHNZDOLWHLWVYHUEHWHULQJZRUGWYHU]HNHUG9RRUGHEHYRUGHULQJYDQGHUXLPWHOLMNHNZDOLWHLWGLHQWGHYRRUJHQRPHQUXLPWHOLMNH RQWZLNNHOLQJLQKHWEXLWHQJHELHGWHZRUGHQJHNRSSHOGDDQHHQFRQFUHWHWHJHQSUHVWDWLHJHULFKWRSHHQYHUEHWHULQJYDQGHNZDOLWHLWYDQKHWODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

]RUJSOLFKWYDQWRHSDVVLQJLVHQVRPVRRNHHQELMGUDJHPRHW

5XLPWHYRRUUXLPWHHQIXQFWLHYHUDQGHULQJ

ZRUGHQ JHOHYHUG DDQ GH UHDOLVDWLH YDQ ODQGVFKDSSHOLMNH

'H ERXZ YDQ QLHXZH ZRQLQJHQ LV VOHFKWV WRHJHVWDDQ DOV

NZDOLWHLW]RDOVLVYDVWJHOHJGLQDUWLNHOYDQGHSURYLQFLDOH

UXLPWHYRRUUXLPWHZRQLQJ +LHUELM PRHW YROGDDQ ZRUGHQ

9HURUGHQLQJ5XLPWH 95 

DDQGH%HOHLGVUHJHO5XLPWHYRRUUXLPWH'LWKRXGWLQ GDW HHQ UXLPWHYRRUUXLPWHWLWHO PRHW ZRUGHQ DDQJHNRFKW

&RQIRUP GH XLWZHUNLQJ RS KRRIGOLMQHQ YDQ GLW EHOHLG RS

ELMGHSURYLQFLHRIGDWHUYROGRHQGHVDQHULQJYDQLQWHQVLHYH

UHJLRQDDO QLYHDX 552 +DUW YDQ %UDEDQW  KDQWHHUW GH

YHHKRXGHULM HQ SODDWVYLQGW'HJHPHHQWHKHHIWLQGHYRUP

JHPHHQWH +LOYDUHQEHHN KHW YROJHQGH XLWJDQJVSXQW 'H

YDQGHERXZVWHHQ´9LVLH5XLPWHYRRU5XLPWHµ RNWREHU

ELMGUDJH DDQ GH ODQGVFKDSSHOLMNH LQSDVVLQJ ]RUJSOLFKW

3RXGHUR\HQ &RPSDJQRQV  GH SURYLQFLDOH ULFKWOLMQ YHUWDDOG

YROJHQVDUWLNHO95 ZRUGWLQJHYXOGRSKHW]HOIGHSHUFHHO

QDDUUXLPWHOLMNEHOHLGRSJHPHHQWHOLMNQLYHDX'LWEHOHLGLV

DOVZDDUHHQUXLPWHOLMNHRQWZLNNHOLQJZRUGWEHRRJGGDQZHO

RSJHQRPHQLQYRRUOLJJHQGHVWUXFWXXUYLVLH

GLUHFW DDQJUHQ]HQG 3DV ZDQQHHU GLW QLHW RI RQYROGRHQGH PRJHOLMN LV ]DO HHQ GHHO YDQ  GH NZDOLWHLWVYHUEHWHULQJ

2RN ELHGW GH 95 PRJHOLMNKHGHQ YRRU IXQFWLHYHU

EHVWDDQ XLW KHW UHDOLVHUHQ YDQ GH GRHOVWHOOLQJHQ XLW KHW

DQGHULQJ RQWZLNNHOLQJ YDQ UHHGV EHVWDDQGH EHGULMYHQ

6WLND GH UHVWRSJDYH (+6 GH XLWYRHULQJ YDQ UHFRQVWUXF

HWF 'H]H PRJHOLMNKHGHQ ]LMQ GRRU GH JHPHHQWH YHUWDDOG

WLHSURMHFWHQ HQ GH EHYRUGHULQJ YDQ VORRS YDQ RYHUWROOLJH

LQ KHW EHVWHPPLQJVSODQ EXLWHQJHELHG 9RRU ]RYHU GH]H

EHERXZLQJ LQ KHW EXLWHQJHELHG YDQ GH JHPHHQWH 2S GDW

PRJHOLMNKHGHQ RQYROGRHQGH RI QLHW ELQQHQSODQV PRJHOLMN

PRPHQWLVERYHQRSGH]RUJSOLFKWDUWLNHOYDQGH95YDQ

JHPDDNW NXQQHQ ZRUGHQ GLHQHQ KLHUYRRU VHSDUDDW

WRHSDVVLQJNZDOLWHLWVYHUEHWHULQJ

SODQSURFHGXUHVGRRUORSHQWHZRUGHQZDDUELMKHWLQLWLDWLHI HQ GH WHJHQSUHVWDWLH DOV PDDWZHUNRSORVVLQJ DDQ HONDDU ZRUGHQJHNRSSHOG



8LWJDQJVSXQWHQ

]RDOV QDWXXU ZDWHUEHUJLQJ UHFUHDWLHPRJHOLMNKHGHQ HQ

'HVWUXFWXXUYLVLHKHHIWEHWUHNNLQJRSKHWEXLWHQJHELHGYDQ

ODQGVFKDSVEHOHYLQJPDDUWHYHQVLQGHYUDDJQDDURQWZLNNH

GH JHPHHQWH +LOYDUHQEHHN  YRRU ]RYHU JHOHJHQ EXLWHQ GH

OLQJVPRJHOLMNKHGHQ YRRU DJUDULsUV HQ EXUJHUV LQ KHW

EHJUHQ]LQJ YDQ VWHGHOLMN JHELHG FRQIRUP GH SURYLQFLDOH

EXLWHQJHELHG

9HURUGHQLQJ 5XLPWH  HQ EHYDW HHQ WRHWVLQJVNDGHU YRRU JHZHQVWH  RQWZLNNHOLQJHQ 'H VWUXFWXXUYLVLH EHYDW JHHQ

+HW JHPHHQWHOLMN GRHO LV RP PHW GH]H 6WUXFWXXUYLVLH WH

QLHXZ EHOHLG PDDU ZHO HHQ DDQWDO EHQRGLJGH DDQYXOOLQJHQ

EHVFKLNNHQ RYHU HHQ HHQGXLGLJ NDGHU YRRU RQWZLNNHOLQJHQ

RSRIGHWDLOOHULQJHQYDQKHWEHVWDDQGHEHOHLG

HQ WHJHQSUHVWDWLHV ]RDOV GLH LQ KHW EHVWHPPLQJVSODQ EXLWHQJHELHG ]LMQ YHUWDDOG LQ RQWZLNNHOLQJVPRJHOLMNKHGHQ

(HQEHODQJULMNHEDVLVYRRUGHVWUXFWXXUYLVLHZRUGWJHYRUPG

%LM GH WRHSDVVLQJ YDQ HHQ ELQQHQSODQVH ZLM]LJLQJ RI

GRRUGHYROJHQGHEHOHLGVNDGHUV

RQWKHIÀQJGLHQWGDQQLHWELMLHGHULQLWLDWLHIRSQLHXZEHSDDOG

‡ 1RWDYDQXLWJDQJVSXQWHQ%HVWHPPLQJVSODQEXLWHQJHELHG

WH ZRUGHQ KRH DDQ GH ]RUJSOLFKW HQ NZDOLWHLWVYHUEHWHULQJ

‡ *HPHHQWHOLMNHVWUXFWXXUYLVLHIHEUXDUL

ZRUGWYROGDDQGH6WUXFWXXUYLVLHYRRU]LHWLQHHQREMHFWLHYH

‡ 8LWZHUNLQJNZDOLWHLWVEHOHLGUHJLR+DUWYDQ%UDEDQW

HQGRRUGHSURYLQFLHUHHGVJHWRHWVWHEHOHLGVOLMQ'DDUQDDVW

‡ 5HFRQVWUXFWLHSODQ

NDQGH6WUXFWXXUYLVLHDOVWRHWVLQVWUXPHQWZRUGHQLQJH]HWELM

‡ 6WLPXOHULQJVNDGHU 6WLND JURHQEODXZHGLHQVWHQ

EXLWHQSODQVH RQWZLNNHOLQJHQ GLH RRN GDQ REMHFWLYHHUEDDU

‡ 5HVWRSJDYH(+6HFRORJLVFKHYHUELQGLQJV]RQHVHQ

ZRUGHQ JHWRHWVW RS GH LQYXOOLQJ YDQ GH ]RUJSOLFKW HQ



UXLPWHOLMNHNZDOLWHLWVYHUEHWHULQJ

EHHNKHUVWHO WRHWHYRHJHQNZDOLWHLW 

0HWGH]HEHOHLGVVWXNNHQHQGHHOYLVLHVZRUGWYRRU]LHQLQGH PDDWVFKDSSHOLMNH EHKRHIWH DDQ YHUVWHUNLQJ YDQ IXQFWLHV



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

2S]HW 'HVWUXFWXXUYLVLHEHYDWJHHQQLHXZEHOHLGPDDUYRUPWDOV

 'HELQQHQGH]HYLVLHGHQNEDUHRQWZLNNHOLQJVPR

KHWZDUHHHQSDUDSOXZDDUPHHEHVWDDQGHEHOHLGVVWXNNHQHQ



JHOLMNKHGHQ]LMQGDDUQDEHVFKUHYHQYHUGHHOGRYHU

LQVWUXPHQWHQDDQHONDDUZRUGHQJHNRSSHOGFTLQRQGHUOLQJH



FDWHJRULHsQ0HWGHFDWHJRULHLQGHOLQJJHHIWGH

UHODWLH ZRUGHQ JHEUDFKW 'H HVVHQWLsOH RQGHUGHOHQ XLW GH



JHPHHQWHGXLGHOLMNDDQRIHHQRQWZLNNHOLQJPRJHOLMNLV

EHVWDDQGH SODQVWXNNHQ ]LMQ YHUZHUNW LQ GH VWUXFWXXUYLVLH



]RQGHUWHJHQSUHVWDWLHPHWHHQWHJHQSUHVWDWLHRSHLJHQ

'H SURYLQFLDOH YUDDJ QDDU HHQ YLVLH HQ GH JHPHHQWHOLMNH



HUIRIPHWWHJHQSUHVWDWLHRSHQEXLWHQHLJHQHUI

XLWZHUNLQJ]LMQLQYRRUOLJJHQGHYLVLHDOVYROJWXLWJHZHUNW

 ,QKHWVORWKRRIGVWXNLVDDQJHJHYHQKRHGHJHPHHQWH

 ,QGLWLQOHLGHQGHKRRIGVWXN]LMQGHJHPHHQWHOLMNHGRHOHQ





HQGHUDQGYRRUZDDUGHQEHVFKUHYHQYRRUGHVWUXFWXXUYLVLH



HQGHRS]HWYDQKHWLQVWUXPHQW

XLWYRHULQJJHHIWDDQLQLWLDWLHYHQ

 +LHUQDLVHHQDQDO\VHRSJHQRPHQYDQGHODQGVFKDSSHOLMNH 

RSERXZYDQGHJHPHHQWHUHVXOWHUHQGLQHHQUXLPWHOLMNH



]RQHULQJYDQODQGVFKDSVVWUXFWXUHQ]RDOVEHHNGDOHQ



MRQJHRQWJLQQLQJHQFRQFHQWUDWLHVHWF

 'HDQDO\VHLVYHUWDDOGQDDUHHQUXLPWHOLMNHHQIXQFWLRQHOH 

YLVLHZDDUPHHLQYXOOLQJZRUGWJHJHYHQDDQHQHU]LMGV



HHQYLVLHRSGHUXLPWHOLMNHNZDOLWHLWYDQKHWODQGHOLMN



JHELHGHQDQGHU]LMGVRSGHRQWZLNNHOLQJYDQGH



SODWWHODQGVHFRQRPLH PHW QDPH ELQQHQ FRQFHQWUDWLHV



XLWJHOLFKWLQGHELMODJHELMGH]HVWUXFWXXUYLVLH 



/DQGVFKDSVW\SHQJHPHHQWH+LOYDUHQEHHN



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 *(%,('6206&+5,-9,1*

'HJHPHHQWH+LOYDUHQEHHNLVJHOHJHQLQKHW]DQGODQGVFKDS YDQ 1RRUG%UDEDQW 'LW EHWHNHQW GDW GH RQGHUJURQG EHVWDDWXLWGHN]DQGGDWKLHUOHWWHUOLMNLVDDQNRPHQZDDLHQ JHGXUHQGHGHODDWVWHLMVWLMG9HUYROJHQV]LMQGHWHPSHUDWXUHQ JHVWHJHQ HYHQDOV GH ZDWHUKRRJWHV 0HW GH NRPVW YDQ GH PHQVKHHIWGLWHUWRHJHOHLGGDWHULQGLWJHELHGHHQYLHUWDO ODQGVFKDSVW\SHV ]LMQ RQWVWDDQ QDPHOLMN KHW EHHNGDO KHW NDPSHQ HQ KRHYHQODQGVFKDS GH RXGH ]DQGRQWJLQQLQJ HQ GHMRQJH]DQGRQWJLQQLQJ



%HHNGDOHQ



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 %HHNGDOHQ +HW

SODQJHELHG

YRRUQDPHOLMN UXQGYHHEHGULMYHQ 'H VWDOOHQ HQ RYHULJH RQGHUGHHO

YDQ

HHQ

XLWJHVWUHNW

EHGULMIVJHERXZHQ EHSDOHQ KHW EHHOG YDQ GH ERXZEORNNHQ

GHN]DQGJHELHG ZRUGW GRRUVQHGHQ GRRU HQNHOH EHHNGDOHQ

9HHODOLVGHHUIEHSODQWLQJURQGGHERHUGHULMHQPDDURRNGH

'H EHJUHQ]LQJ YDQ GH]H EHHNGDOHQ ZRUGW JHYRUPG GRRU

SHUFHHOVUDQGEHJURHLLQJYHUGZHQHQ

ÁDQNHUHQGHZHJHQRSGHRYHUJDQJQDDUGHKRJHUJHOHJHQ JURQGHQGLH]LFKVRPVKHEEHQRQWZLNNHOGWRWXLWJHVWUHNWH DNNHUFRPSOH[HQ +HW EHHNGDO NHQW YDQ RRUVSURQJ HHQ RSVWUHNNHQGH YHUNDYHOLQJ KDDNV RS GH EHHNORRS .OHLQH ODQGVFKDSVHOHPHQWHQ ]RDOV KRXWZDOOHQ KRXWVLQJHOV HQ VORWHQ DFFHQWXHUHQ GH SHUFHHOVJUHQ]HQ ,Q VDPHQKDQJ PHW NOHLQH ERVSHUFHOHQ LV HHQ ODQGVFKDSVEHHOG PHW HHQ NOHLQVFKDOLJNDUDNWHURQWVWDDQ

'H EHERXZLQJ LV YRRUDO ODQJV GH EHHNGDOUDQG ODQJV GH ZHJ JHOHJHQ +LHU VWDDQ QRJ YDDN GH RXGHUH ERHUGHULMHQ 'H ERHUHQHUYHQ KHEEHQ YDQRXGV HHQ RSVWUHNNHQGH YRUP ZDDUPHH ]H ]LFK LQ KHW DDQZH]LJH YHUNDYHOLQJVSDWURRQ YRHJHQ5RQGKHWZRRQKXLVJHGHHOWHLVHHQVLHUWXLQDDQZH]LJ RP]RRPG PHW KDJHQ 9HUGHU LV KHW HUI YRRUDO IXQFWLRQHHO LQJHULFKWPHWHOHPHQWHQDOVHHQPRHVWXLQERRPJDDUGHWF ,QPLGGHOV KHHIW KLHU VFKDDOYHUJURWLQJ SODDWVJHYRQGHQ PHW

+LVWRULVFKHNDDUWEHHNGDO5HXVHO



.DPSHQHQ+RHYHQODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 .DPSHQHQ+RHYHQODQGVFKDS

+HW HUI LQ GLW ODQGVFKDSVW\SH NDQ QLHW ORV JH]LHQ ZRUGHQ

+HW ODQGVFKDSSHOLMN NDUDNWHU ZRUGW KLHU GRRUJDDQV

YDQ GH DO DDQZH]LJH EHSODQWLQJ RS RI ODQJV GH GLUHFW

JHNHQPHUNW GRRU HHQ RUJDQLVFK JHYRUPG SDWURRQ YDQ

DDQJUHQ]HQGH SHUFHOHQ 'DW EHWHNHQW RRN GDW KHW

ZHJHQ HQ LQGLHQ DDQZH]LJ  ZDWHUORSHQ 'H YHUNDYHOLQJ

RQUHJHOPDWLJHYHUNDYHOLQJVSDWURRQKHUNHQEDDULVLQGHYRUP

YHUWRRQW HYHQHHQV HHQ DIZLVVHOHQG HQ YDDN RQUHJHOPDWLJ

HQKHWUXLPWHOLMNEHHOGYDQGHHUYHQ

EHHOG ZDDUELM ODQGERXZJURQGHQ KRXWZDOOHQ HQ ERVMHV YHHOYXOGLJYRRUNRPHQ+HWODQGVFKDSVEHHOGLVKLHUGRRUVWHUN DIZLVVHOHQGHQYHHODONOHLQVFKDOLJYDQNDUDNWHU

'H QHGHU]HWWLQJVVWUXFWXXU YHUWRRQW YDQRXGV HHQ VWHUN YHUVSUHLG EHERXZLQJVEHHOG GH DI]RQGHUOLMNH KRHYHQ ODJHQ WHPLGGHQYDQHHQHLJHQNDPSMHRI´HHQPDQVHVMHµ'RRU SODDWVHOLMNHYHUGLFKWLQJYDQEHERXZLQJKHHIWGLWEHHOG]LFK KLHUHQGDDURQWZLNNHOGWRWWUDQVSDUDQWHEHERXZLQJVOLQWHQ +RHZHO GH EHERXZLQJ JURWHQGHHOV ODQJV GH ZHJHQ LV JHVLWXHHUG NRPW KHW RRN YRRU GDW GH RXGHUH ERHUGHULMHQ HHQ YULMH OLJJLQJ NHQQHQ HQ YLD LQVWHHNZHJMHV EHUHLNEDDU ]LMQ

+LVWRULVFKHNDDUWNDPSHQODQGVFKDS+LOYDUHQEHHN



2XGHRQWJLQQLQJVODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 2XGH]DQGRQWJLQQLQJVODQGVFKDS

2SRXGHOXFKWIRWR·V]LMQGHWUDGLWLRQHOHLQULFKWLQJHQYDQKHW

'H JURWH RSHQ DNNHUFRPSOH[HQ EHKRUHQ WRW GH RXGHUH

HUIJRHGWH]LHQ+HWHUILVDDQGH]LMGHYDQKHWYRRUKXLVKHW

RQWJLQQLQJHQLQRQVODQG'HYHHODOEROOHDNNHUVOLJJHQYDQ

ZRRQJHGHHOWHLQJHULFKWDOVVLHUWXLQRP]RRPGGRRUKDJHQ

RRUVSURQJ RS GH RYHUJDQJ YDQ GH KRJHUH JURQGHQ QDDU GH

9HUGHULVKHWHUIYRRUDOIXQFWLRQHHOLQJHULFKWPHWHOHPHQWHQ

ODJHUJHOHJHQEHHNGDOHQ

DOV HHQ PRHVWXLQ ERRPJDDUG VFKDSHQZHLWMH HWF

'H UDQGHQ ZRUGHQ YHHODO EHSDDOG GRRU HHQ VOLQJHUHQGH

2SYDOOHQG LV GH LQIRUPHOH VHWWLQJ YDQ GH NOHLQH JHERXZHQ

ZHJHQSDWURRQ ZDDUODQJV NOHLQVFKDOLJH OLQWEHERXZLQJ LV

ELQQHQKHWHUI

JHYHVWLJG 'H SHUFHOHQ KHEEHQ HHQ RQUHJHOPDWLJ SDWURRQ

,QPLGGHOVKHHIWHHQ]HNHUHVFKDDOYHUJURWLQJSODDWVJHYRQGHQ

$DQ GH UDQGHQ NRPW EHSODQWLQJ YRRU LQ GH YRUP YDQ

'H LQIRUPHOH VHWWLQJ GLUHFW DDQ GH ZHJ LV QRJ VWHHGV

ERVHOHPHQWHQ ZHJ HQ HUIEHSODQWLQJ 3ODDWVHOLMN NDQ GH

KHUNHQEDDU PDDU QX DIJHZLVVHOG PHW GLHSHUH HUYHQ PHW

JUHQV YDQ KHW DNNHUFRPSOH[ VDPHQYDOOHQ PHW GH UDQG YDQ

JURWHUH JHERXZHQ HQ PHHU YHUKDUG RSSHUYODN 9RRUDO

HHQEHHNGDO

GH YHUWLFDOH HOHPHQWHQ ]RDOV YRHGHUVLOR·V ]LMQ VWHUN EHHOGEHSDOHQG

'H ERHUGHULMHQ YRUPHQ HHQ WUDQVSDUDQW OLQW ODQJV GH UDQG YDQGHDNNHUKLHUYLQGHQZHGHYHHODORXGHUHERHUGHULMHQ W\SH ODQJJHYHOERHUGHULM  PHW ELMEHKRUHQGH NOHLQH HUYHQ 9RRUDO GH]H ODQJJHYHOERHUGHULMHQ YRUPHQ GDDU ZDDU GH]H LQHHQKRJHUHGLFKWKHLGYRRUNRPHQHHQVWHUNHEHJUHQ]LQJ YDQ GH DNNHU 6RPV LV YLD GRRUNLMNMHV KHW DFKWHUOLJJHQGH DNNHUFRPSOH[]LFKWEDDU



-RQJHRQWJLQQLQJVODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 -RQJHRQWJLQQLQJVODQGVFKDS

ZHLGHERXZDNNHUERXZ DOVQLHWJURQGJHERQGHQ LQWHQVLHYH

'LW ODQGVFKDSVW\SH LV RQWVWDDQ GRRUGDW HLQG H  EHJLQ

YHHKRXGHULM  ZDDUGRRU GH HUÀQULFKWLQJ HQ ²XLWVWUDOLQJ

HHHXZPHWQLHXZHWHFKQLHNHQHQLQ]LFKWHQGHVFKUDOH

GLYHUVPDDUDOWLMGUHODWLHIJURRWVFKDOLJLV

KHLGHYHOGHQLQFXOWXXUNRQGHQZRUGHQJHEUDFKW'H]HMRQJH RQWJLQQLQJHQRRNZHODDQJHGXLGDOVPDFKLQHODQGVFKDSSHQ

 %RVHQQDWXXUJHELHGHQ

ZRUGHQ JHNHQPHUNW GRRU GH UDWLRQHOH RSERXZ HQ HHQ

2SGHKRJHUJHOHJHQGHN]DQGUXJJHQHQGHN]DQGYODNWHQYDQ

UHJHOPDWLJH RS JHPHFKDQLVHHUGH ODQGERXZ DIJHVWHPGH

GH JHPHHQWH NRPHQ JURWH EHVORWHQ ERVFRPSOH[HQ YRRU

UHODWLHI JURRWVFKDOLJH YHUNDYHOLQJ +HW SDWURRQ YDQ ZHJHQ

'LW EHWUHIW YRRUDO GH YRRUPDOLJH  SURGXFWLHERVSHUFHOHQ

HQ ZDWHUORSHQ LV UHJHOPDWLJ YDQ YRUP HQ V\VWHPDWLVFK

PHW QDDOGKRXW GLH JHGHHOWHOLMN RRN WRW RXGHUH ODQGJRHG

RSJH]HW 'H ERHUGHULMHQ ]LMQ VROLWDLU JHVLWXHHUG HQ DOWLMG

HHQKHGHQEHKRUHQ%LQQHQGHODQGJRHGHUHQHQRSGHQDWWHUH

JHNRSSHOGDDQKHWZHJHQSDWURRQGDWZRUGWEHJHOHLGGRRU

JURQGHQNRPHQRRNORRIKRXWSHUFHOHQYRRUPHWEHODQJULMNH

UDQNH WUDQVSDUDQWH ODDQEHSODQWLQJ'LWYHUVWHUNWKHWEHHOG

ZDDUGHQ YRRU GH QDWXXU 'H]H QDWXXUZDDUGHQ ZRUGHQ

YDQKHWRSHQHQJURRWVFKDOLJHODQGVFKDS

YRRUDO LQJHJHYHQ GRRU GH DDQZH]LJKHLG YDQ DIZLVVHOHQGH YHJHWDWLH LQ GH YRUP YDQ QDDOG HQ ORRIKRXW HQ UHVWDQWHQ

'H HUYHQ ]LMQ VREHU HQ SXXU IXQFWLRQHHO LQJHULFKW$DQ GH

YDQKHLGHHQYHQQHQ1DDVWQDWXXUHQHFRORJLVFKHZDDUGHQ

YRRU]LMGH VWDDW KHW KRRIGJHERXZ ZRRQKXLV  ZDDUDFKWHU

YHUWHJHQZRRUGLJHQ GH ERVVHQ PHW RXGH KHLGHJHELHGHQ HQ

]LFK GH JURWH EHGULMIVJHERXZHQ EHYLQGHQ 'H DUFKLWHFWXXU

YHQQHQHYHQHHQVHHQEHODQJULMNHIXQFWLHDOVLQÀOWUDWLHHQ

HQ KHW PDWHULDDOJHEUXLN VWUDOHQ VREHUH IXQFWLRQDOLWHLW HQ

JURQGZDWHUZLQQLQJVJHELHGHQKHEEHQGH]HHHQEHODQJULMNH

HHQYRXG XLW 'RRU GH EHSHUNW DDQZH]LJH HUIEHSODQWLQJ

UHFUHDWLHYHEHWHNHQLV

EHSDOHQ YRRUDO GH JURRWVFKDOLJH EHGULMIVJHERXZHQ KHW ODQGVFKDSVEHHOG 'H EHGULMYHQ ]LMQ ]RZHO JURQGJHERQGHQ



 %LM]RQGHUHJHELHGHQ %LQQHQ GH YLHU ODQGVFKDSVW\SHQ EHYLQGHQ ]LFK LQ KHW EXLWHQJHELHG YDQ +LOYDUHQEHHN RRN HQNHOH ELM]RQGHUH JHELHGHQ PHW HHQ YDQ KHW ODQGVFKDSVW\SH DIZLMNHQG UXLPWHOLMNEHHOGHQJHGHHOWHOLMNDQGHUHIXQFWLH'LWEHWUHIIHQ GHYROJHQGHHOHPHQWHQ

/DQGJRHGGH8WUHFKW /DQGJRHG GH 8WUHFKW LV HHQ  KHFWDUH JURRW ODQGJRHG

$NNHUQDELMODQGJRHG'H8WUHFKW

WHQ ]XLGHQ YDQ (VEHHN +HW ODQGJRHG GDQNW KDDU QDDP DDQ GH OHYHQVYHU]HNHULQJVPDDWVFKDSSLM 'H 8WUHFKW +HW

ERVVHQFXOWXXUJURQGHQKHLGHHQYHQQHQ'RRUKHWJHELHG

EHGULMI RQWJRQ LQ  RS JURWH VFKDDO GH XLWJHVWUHNWH

VWURRPWGHQRJYRORSPHDQGHUHQGH5RYHUWVH/HLMHQHQNHOH

KHLGHYHOGHQ GRRU PLGGHO YDQ DIEUDQGHQ HQ DDQSODQW +HW

DIJHVQHGHQRXGHPHDQGHUV

ODQGJRHGLVQXHHQJHYDULHHUGQDWXXUODQGVFKDS+LHUYDQLV KHFWDUHERVKHFWDUHODQGHQERXZJURQGHQ 

7HQ ZHVWHQ YDQ (VEHHN OLJW GH 5RYHUWVFKH +HLGH PHW ERV

KHFWDUHQDWXXUWHUUHLQ'HLQJHERXZGHEUDQGWRUHQPHW

HQ KHLGH YDQ ELMQD  KHFWDUH (HQ GHHO YDQ KHW JHELHG

KRXWYHVWHUVZRQLQJLVELM]RQGHU

VWDDW EHNHQG DOV$DOVWKHLGH 7HJHQ GH %HOJLVFKH JUHQV OLJW HHQ YHQ KHW 3DSVFKRW ,Q KHW QRRUGHQ YDQ KHW JHELHG OLJW

/DQGJRHG*RUSHQ5RRYHUW

KHWGDOYDQGH5RYHUWVH/HLMPHWYRFKWLJORRIERV

/DQGJRHG *RUS HQ 5RRYHUW LV HHQ XLWJHVWUHNW ODQGJRHG YDQ  KHFWDUH PHW RXGH ORRI QDDOG HQ JHPHQJGH



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

HQNHOH EHHPGJHELHGHQ GLH WRW GH]HOIGH EHKHHUVHHQKHLG KRUHQ 'H]H EHHPGJHELHGHQ ]LMQ GH YRFKWLJH ZHLODQGHQ ODQJVGH5HXVHOGH5RRGORRSHQKHW6SUXLWHQVWURRPSMH

'LHVVHQV%URHN 7HQ RRVWHQ YDQ KHW ODQGJRHG $QQDQLQD·V 5XVW OLJW KHW QDWXXUJHELHG'LHVVHQV%URHN+HWJHELHGLVJHOHJHQODQJVKHW GDOYDQGH5HXVHOWHQQRRUGHQYDQ'LHVVHQ'HNDQDOLVDWLH +HW3DSVFKRW

YDQGH5HXVHOZRUGWLQPLGGHOVRQJHGDDQJHPDDNW]RGDWGH EHHNZHHUHHQPHHUKLVWRULVFKEHSDDOGYHUORRSNULMJW

$QQDQLQD·V5XVW $QQDQLQD·V5XVWLVHHQQDWXXUJHELHGPHWODQGJRHGYDQFLUFD KHFWDUHJURRWHQOLJWWXVVHQ+LOYDUHQEHHNHQ'LHVVHQ+HW JHELHGEHVWDDWXLWHHQRXGODQGJRHGPHWORRIHQQDDOGERV +HW ]XLGZHVWHOLMN GHHO YDQ KHW ODQGJRHG LV DDQJHOHJG LQ (QJHOVHODQGVFKDSVVWLMO(HQGHHOYDQKHWODQGJRHGEHVWDDWXLW PRQXPHQWDOH HLNHQ HQ EHXNHQ HQ UKRGRGHQGURQDDQSODQW +HW RYHULJH GHHO EHVWDDW YRRUQDPHOLMN XLW QDDOGERPHQ HQ ZHUGRRNYRRUGHKRXWSURGXFWLHJHEUXLNW

7HQQRRUGHQHQWHQRRVWHQYDQKHWODQGJRHGEHYLQGHQ]LFK

'H5HXVHO



/DQGVFKDSVW\SHQJHPHHQWH+LOYDUHQEHHN



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

9,6,(

'H]H YLVLH EHYDW GH NDGHUV YRRU GXXU]DPH NZDOLWHLWVYHU

ODQGVFKDSSHOLMNH ZDDUGHQ LQFOXVLHI FXOWXXUKLVWRULH  HQ

EHWHULQJ LQ KHW EXLWHQJHELHG YDQ +LOYDUHQEHHN JHEDVHHUG

QDWXXUZDDUGHQ VSHOHQ KLHUELM HHQ EHODQJULMNH URO 9HUGHU

RS HHUGHU JHIRUPXOHHUG VHFWRUDDO EHOHLG 'LW EHVWDDQGH

ZRUGW HU UHNHQLQJ JHKRXGHQ PHW UXLPWHOLMN UHOHYDQWH

EHOHLGZRUGWRSKRRIGOLMQHQZHHUJHJHYHQ9HUYROJHQVZRUGW

ZDWHU HQ PLOLHXDVSHFWHQ 'DDUQDDVW ZRUGW HU LQ GH YLVLH

DDQGDFKW EHVWHHG DDQ GH LQKRXGHOLMNH YLVLH WHQ DDQ]LHQ

LQJHJDDQ RS GH RYHULJH IXQFWLHV LQ KHW SODQJHELHG 9HHODO

YDQ ODQGVFKDS HQ EHERXZLQJ LQ KHW EXLWHQJHELHG YDQ GH

LV KHW SODQRORJLVFK EHOHLG YRRU GH]H RYHULJH IXQFWLHV

JHPHHQWH+LOYDUHQEHHNHQGHIXQFWLRQHOHRQWZLNNHOLQJVPR

RQGHUJHVFKLNW DDQ GH KRRIGIXQFWLHV ODQGERXZ QDWXXU HQ

JHOLMNKHGHQLQKHWNDGHUYDQGHSODWWHODQGVHFRQRPLH

WRHULVPHUHFUHDWLHYDQKHWEXLWHQJHELHG

 3ODWWHODQGVHFRQRPLHHQIXQFWLHNDGHU

'H JHPHHQWH KHHIW LQ GH QRWD EHOHLGVXLWJDQJVSXQWHQ

'HYLVLHEXLWHQJHELHG+LOYDUHQEHHNULFKW]LFKRSKHWEHKRXG

EHVWHPPLQJVSODQ EXLWHQJHELHG GH EHVWXXUOLMNH DPELWLH

HQ ZDDU PRJHOLMN GH YHUVWHUNLQJ YDQ GH UXLPWHOLMNH HQ

YDVWJHOHJGRPLQEHJLQVHORYHUDOLQKHWEXLWHQJHELHGGH]HOIGH

IXQFWLRQHOH NZDOLWHLW YDQ KHW SODQJHELHG +HW JDDW KLHUELM

IXQFWLRQHOH RQWZLNNHOLQJHQ WRH WH ODWHQ 'LW EHWHNHQW GDW

PHWQDPHRPNZDOLWHLWYRRUDDQKHWEXLWHQJHELHGJHERQGHQ

YRRU IXQFWLHYHUDQGHULQJHQ XLWEUHLGLQJ YDQ EHVWDDQGH

IXQFWLHV ZDWHUODQGERXZUHFUHDWLHQDWXXUODQGVFKDS HQ

IXQFWLHVHWFRYHUDOGH]HOIGHNZDQWLWDWLHYHHLVHQJHOGHQ

YRRU GH HYHQHHQV YHHOYXOGLJ YRRUNRPHQGH QLHWDJUDULVFKH IXQFWLHVHQZRQHQ

'H UXLPWHOLMNH NZDOLWHLW ZRUGW FRQIRUP GH SURYLQFLDOH EHQDGHULQJ 

EHSDDOG

GRRU

GH

JHEUXLNVZDDUGH

EHOHYLQJVZDDUGH HQ WRHNRPVWZDDUGH 'H DDQZH]LJH



'H DDQOHLGLQJ YRRU GH]H LQVWHHN LV GDW KHW EXLWHQJHELHG

GLH YDQ KHW RPOLJJHQGH ODQGVFKDS RS VWUXFWXXUQLYHDX ]LMQ

YDQGHJHPHHQWH+LOYDUHQEHHNYRRUKHWRYHUJURWHGHHOXLW

ULFKWLQJJHYHQGYRRUHHQJRHGHUXLPWHOLMNHLQSDVVLQJ

JHELHGHQEHVWDDWZDDUDOVSUDNHLVYDQIXQFWLHPHQJLQJHQ ZDDU RRN HHQ EOLMYHQGH YUDDJ HQ QRRG]DDN EHVWDDW YRRU

5HVXPHUHQGEHWHNHQWGLWGDWGHLQYRRUOLJJHQGH6WUXFWXXUYLVLH

IXQFWLRQHOH G\QDPLHN 'DDUQDDVW EHVWDDW HHQ DDQ]LHQOLMN

XLWJHZHUNWH RQWZLNNHOLQJVPRJHOLMNKHGHQ XLWJDDQ YDQ KHW

GHHOYDQKHWEXLWHQJHELHGXLWERVQDWXXUHQODQGJRHGHUHQ

YROJHQGHVWDQGSXQW

ZDDU HYHQHHQV DDQOHLGLQJ LV YRRU KHW ELHGHQ YDQ UXLPWH

‡ 2YHUDOJHOLMNHRQWZLNNHOLQJVPRJHOLMNKHGHQPHW

DDQ IXQFWLHV 'H JHPHHQWH NHQW QDXZHOLMNV JURRWVFKDOLJH



DJUDULVFKH JHELHGHQ ZDDU HHQ VWHUN SULPDDW JHOGW YRRU

‡ 2YHUDONZDQWLWDWLHIJHOLMNHWHJHQSUHVWDWLHVELMHHQ

DJUDULVFKHRQWZLNNHOLQJEHKRXGHQVJHQRHPG/2*



XLW]RQGHULQJYDQ/2*

RQWZLNNHOLQJ

‡ 3HUORFDWLHNZDOLWDWLHIYHUVFKLOOHQGHUDQGYRRUZDDUGHQ %LM ¶RYHUDO JHOLMNH RQWZLNNHOLQJVPRJHOLMNKHGHQ· KRRUW



DIKDQNHOLMNYDQGHDDUGHQRPYDQJYDQKHWLQLWLDWLHIHQ

WHYHQV KHW XLWJDQJVSXQW GDW GH WHJHQSUHVWDWLH ]RUJSOLFKW



GHUXLPWHOLMNHNHQPHUNHQYDQGHRPJHYLQJ

HQ UXLPWHOLMNH NZDOLWHLW  RYHUDO JHOLMN LV YRRU ]RYHU KHW

‡ 5Y5RQWZLNNHOLQJLVDOVXLW]RQGHULQJQLHWRYHUDOPRJHOLMN

NZDQWLWDWLHYH HLVHQ EHWUHIW :HO LV KHW YDQ EHODQJ RP



PDDU DOOHHQ LQ GH EHERXZLQJVFRQFHQWUDWLHV ]RDOV

NZDOLWDWLHIYHUVFKLOOHQGHHLVHQWHVWHOOHQDDQRQWZLNNHOLQJHQ



XLWJHZHUNWLQGHELMODJHYDQGH]HVWUXFWXXUYLVLH

RPGDW GH DDUG YDQ HHQ JRHGH UXLPWHOLMNH LQSDVVLQJ



ZRUGW EHSDDOG GRRU GH YRUP HQ RS]HW YDQ GH EHWUHIIHQGH

7HQVORWWH ZRUGW RSJHPHUNW GDW GH JHPHHQWH LQ KHW NDGHU

ORFDWLH ZDDURS GH RQWZLNNHOLQJ GLHQW SODDWV WH YLQGHQ HQ

YDQ 67,.$ UHHGV EHSDDOG KHHIW ZDDU ODQGVFKDSVLQYHV

GH NHQPHUNHQ YDQ KHW ODQGVFKDS URQG GH SODQORFDWLH 'H

WHULQJHQ ELM YRRUNHXU ZRUGHQ JHUHDOLVHHUG 'LW OHLGW HUWRH

VSHFLÀHNH NHQPHUNHQ YDQ GH ORFDWLH RS SHUFHHOVQLYHDX HQ

GDW LQ GLH JHELHGHQ ]RDOV EHHNGDOHQ  GH NZDOLWHLWVYHU

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

EHWHULQJ KHW SULPDDW KHHIW ERYHQ DQGHUH JHELHGHQ ]RDOV



PRJHOLMNKHGHQYRRUUHFUHDWLHHQUHFUHDWLHI PHGH

MRQJHRQWJLQQLQJHQ 



JHEUXLNPHGHLQUHODWLHWRWGHDDQZH]LJHWRHULVWLVFK



UHFUHDWLHYHLQIUDVWUXFWXXU SDGHQURXWHVERVVHQ 

'HGRHOHQ]RDOVEHVFKUHYHQLQGH1RWDYDQ8LWJDQJVSXQWHQ

‡ :RQHQEHKRXGEHVWDDQGHZRQLQJHQUXLPWHELHGHQ

YRRUKHWEHVWHPPLQJVSODQEXLWHQJHELHGGLHYRRUKHWJHKHOH



DDQQLHXZHZRQLQJHQWHUEHKRXGYDQZDDUGHYROOH

ODQGHOLMNJHELHGJHOGHQ]LMQ



SDQGHQ 9$%EHOHLGELQQHQSODQV HQWRHYRHJLQJYDQ

‡ /DQGVFKDSEHKRXGHQZDDUPRJHOLMNYHUVWHUNLQJYDQ



QLHXZHZRQLQJHQLQKHWNDGHUYDQ5XLPWHYRRU5XLPWH



GHODQGVFKDSSHOLMNHLGHQWLWHLWHQYHUVFKHLGHQKHLG]RZHO



EXLWHQSODQV 



YLVXHHOUXLPWHOLMNDOVFXOWXXUKLVWRULVFKJH]LHQ

‡ 1LHWDJUDULVFKHIXQFWLHVEHKRXGEHVWDDQGHIXQFWLHVHQ

‡ %RV1DWXXUEHKRXGHQZDDUPRJHOLMNYHUVWHUNLQJYDQGH



EHSHUNWHRQWZLNNHOLQJVPRJHOLMNKHGHQYRRUQLHXZH





IXQFWLHVRSEHVWDDQGHORFDWLHV 9$%EHOHLGELQQHQSODQV 

‡ $UFKHRORJLH&XOWXXUKLVWRULHEHKRXGYDQDUFKHRORJLVFKH



HQEHSHUNWHJURHLHQRQWZLNNHOPRJHOLMNKHGHQYRRUGH]H



JHELHGHQHQFXOWXXUKLVWRULVFKHVWUXFWXUHQFOXVWHUVHQ



IXQFWLHV



OLQWHQZDDUELMRRNKHUVWHOGRRURQWZLNNHOLQJSODDWVPRHW



NXQQHQYLQGHQ

HFRORJLVFKHYHUVFKHLGHQKHLG

 /DQGVFKDS

‡ :DWHUEHKRXGKHUVWHOHQRQWZLNNHOLQJYDQKHW

$OJHPHHQ



EHVWDDQGHZDWHUV\VWHHPPHGHLQUHODWLHWRWKHW

+HW ODQGVFKDS YDQ GH JHPHHQWH +LOYDUHQEHHN KHHIW



YDVWKRXGHQHQEHUJHQYDQJHELHGVHLJHQZDWHU

HHQ ULMNH DIZLVVHOLQJ WH ELHGHQ YDQ QDWXXU FXOWXXU HQ

‡ /DQGERXZEHKRXGHQZDDUPRJHOLMNYHUVWHUNLQJYDQGH

DJUDULVFKH ODQGVFKDSSHQ 0HW QDPH GH FRPELQDWLH YDQ GH



ERV HQ QDWXXUJHELHGHQ LQ KHW ZHVWHQ HQ KHW ZDDUGHYROOH

DJUDULVFKHEHGULMYLJKHLG

‡ 5HFUHDWLHEHKRXGHQZDDUPRJHOLMNYHUVWHUNLQJYDQGH

RSHQ ODQGVFKDS URQGRP GH NHUQHQ DDQ GH RRVW]LMGH YDQ





GH JHPHHQWH ]RUJHQ YRRU HHQ DIZLVVHOHQG HQ LQWHUHVVDQW



EHVWDDQGHODQGVFKDSVHOHPHQWHQEHKHHUVVXEVLGLHZRUGHQ

ODQGVFKDS'LWYRUPWHHQJRHGHEDVLVYRRUGHRQWZLNNHOLQJ



DDQJHYUDDJG

YDQUHFUHDWLHHQQDWXXU

‡ )LMQHGRRUDGHULQJ+HWUHDOLVHUHQYDQQLHXZHODQGVFKDSV

3ULPDLUGRHOLVKHWEHKRXGHQZDDUPRJHOLMNYHUVWHUNLQJYDQ



HOHPHQWHQKHHIWYRRUGH*HPHHQWH+LOYDUHQEHHNHHQ

GH ODQGVFKDSSHOLMNH LGHQWLWHLW HQ YHUVFKHLGHQKHLG ]RZHO



KRJHSULRULWHLW'HJHPHHQWHZLOKDDUWRWDOHEXLWHQJHELHG

YLVXHHOUXLPWHOLMNDOVFXOWXXUKLVWRULVFKJH]LHQ+LHUQDZRUGW



YRRU]RYHUGHVXEVLGLHUHJHOLQJGLWWRHODDWRSHQVWHOOHQ

EHVFKUHYHQZDWGLWSHUGHHOJHELHGRSKRRIGOLMQHQEHWHNHQW



YRRUKHWUHDOLVHUHQYDQQLHXZHODQGVFKDSVHOHPHQWHQ

YRRU ]RZHO GH PHHU GXXU]DPH ODQGVFKDSSHOLMNUXLPWHOLMNH



7HQDDQ]LHQYDQGHSULRULWHULQJVOXLWGHJHPHHQWH]LFK

ZDDUGHQDOVGHPHHUG\QDPLVFKHIXQFWLRQHOHLQYXOOLQJ9RRU



DDQELMKHWVWDQGSXQWYDQGHRYHULJHJHPHHQWHV

HHQPHHUJHGHWDLOOHHUGHXLWZHUNLQJYDQGHODQGVFKDSSHOLMNH



QDPHOLMNSULRULWHLWYRRUGH51/(JHELHGHQHQGH

YHUVWHUNLQJSHU]RQHHQIXQFWLHRQWZLNNHOLQJSHU]RQHZRUGW



EHHNGDOHQ,QGH]HJHELHGHQZLOGHJHPHHQWHFLUFD

YHUZH]HQ QDDU UHVSHFWLHYHOLMN KHW 6WLND JURHQEODXZH



QLHXZHQDWXXUUHDOLVHUHQZDDUYDQHHQGHHOPHWÀMQH

GLHQVWHQ HQ GH 1RWD YDQ 8LWJDQJVSXQWHQ EHVWHPPLQJVSODQ



GRRUDGHULQJHQHHQGHHOPLGGHOVKRRIGDGHUV9RRU

EXLWHQJHELHGHQGHXLWZHUNLQJLQQDYROJHQGKRRIGVWXN



SULRULWHLW,,JHELHGHQJHOGWGDWHUQLHXZHQDWXXUZRUGW

6SHFLÀHNHRQWZLNNHOLQJHQ EURQ*83SDUDJUDDI



QDJHVWUHHIG'H]HDPELWLHORRSWRYHUMDDU

*HPHHQWH+LOYDUHQEHHN

‡ +RRIGDGHUV*HPHHQWH+LOYDUHQEHHNNHQWQDWWHHQ

‡ %HVWDDQGHQDWXXU*HPHHQWH+LOYDUHQEHHNKHHIWGH



GURJHHFRORJLVFKHYHUELQGLQJV]RQHV QDWNUDOHQVQRHU



DPELWLHGDWDOOHDDQZH]LJHODQGVFKDSVHOHPHQWHQGLHLQ



HQGURRJNUDOHQVQRHU 'HDPELWLHYDQGHJHPHHQWHLV



SDUWLFXOLHUHLJHQGRP]LMQ FDKD LQMDDUPLGGHOVKHW



RP]RYHHOPRJHOLMNYDQGHKRRIGDGHUVWHUHDOLVHUHQ



6WLPXOHULQJVNDGHULQEHKHHUWHKHEEHQ,QDOOHJHELHGHQ



PLGGHOVDDQNRRS'DDUQDDVWKHHIWGHJHPHHQWHGH



GLH]LMQRSHQJHVWHOGYRRUKHW6WLPXOHULQJVNDGHUNDQYRRU



DPELWLHRPRSGHODQJHUHWHUPLMQHHQNOHLQGHHO  WH

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL



UHDOLVHUHQPLGGHOVKHW6WLPXOHULQJVNDGHU

‡ 5HFUHDWLHIPHGHJHEUXLN'HDPELWLHYDQGHJHPHHQWH 

LVRPELQQHQMDDUFLUFDNPUHFUHDWLHISDGRYHU



SDUWLFXOLHUHJURQGWHUHDOLVHUHQ

9RRU ]RYHU GH LQ KHW NDGHU YDQ KHW EHOHLG 5XLPWH YRRU 5XLPWH EHJUHQVGH EHERXZLQJVFRQFHQWUDWLHV

OLQWHQ HQ

FOXVWHUV  RQGHUGHHO XLWPDNHQ YDQ GH KLHUQD EHVFKUHYHQ ODQGVFKDSSHOLMNH ]RQHV ]LMQ GH GDDUELQQHQ YRRUNRPHQGH ODQGVFKDSVZDDUGHQFRQFUHHWRSNDDUWZHHUJHJHYHQ+LHUELM ZRUGWLQDDQYXOOLQJRSGHKLHUQDYROJHQGHEHVFKULMYLQJYDQ GH UXLPWHOLMNH KRRIGVWUXFWXUHQ YHUZH]HQ QDDU GH ´9LVLH 5XLPWHYRRU5XLPWHµ ]LHELMODJH 



%HHNGDOHQ



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 %HHNGDOHQ

1DWWHEURHNERVMHVEHVWDDQGHXLWVLQJHOVYDQHO]HQHQEHUNHQ

:DDUPRJHOLMNZRUGWKHWRRUVSURQNHOLMNHEHHNGDOODQGVFKDS

HQNXQQHQKHUHQGHULQGHWRHNRPVWZHHUZRUGHQDDQJHOHJG

KHUVWHOG'LWKRXGWQDWXXUKHUVWHOLQHQZDDUPRJHOLMNKHUVWHO

2RN NXQQHQ UHVWDQWHQ YDQ GH RRUVSURQNHOLMNH OLMQYRUPLJH

YDQHHQPHDQGHUHQGHORRSYDQGHEHHNPHWHHQRHYHU]RQH

EHSODQWLQJZHHUZRUGHQDDQJHYXOG

JHYROJG GRRU HHQ PR]DwHN YDQ YRFKWLJH  JUDVODQGHQ HQ HHQEHJUHQ]LQJGRRUGHKRJHUHWHUUHLQGHOHQ2SGHKRJHUH WHUUHLQGHOHQ NRPHQ YDQ RRUVSURQJ YHHODO KRXWZDOOHQ HQ KRXWVLQJHOVYRRUGLHGZDUVRSGHEHHNVWDDQRIMXLVWSDUDOOHO DDQGHEHHNORSHQ

+HUVWHOYDQHHQEHHNGDO

%HHNGDO +HWEHHNGDOGHODDJWHVEHVWDDQXLW YRFKWLJ JUDVODQGPHW PRJHOLMNNOHLQHERVMHV EURHNERV HQOLMQYRUPLJHEHSODQWLQJ %URHNERV



%HHOGNZDOLWHLW

,QULFKWLQJHUI

,QGLHQ]LFKWHUSODDWVHYDQHHQHUIRQWZLNNHOLQJHQYRRUGRHQ

‡ 'H ZRQLQJHQZRRQJHGHHOWHQ ]LMQ SULPDLU RS GH ZHJ

NXQQHQ



ELQQHQ GH NDGHUV YDQ YHUJXQQLQJYHUOHQLQJ

JHULFKW

SODQKHU]LHQLQJ RI RQWKHIÀQJHQ  QDGHUH HLVHQ ZRUGHQ

‡ %HGULMIVJHERXZHQ OLJJHQ LQ SULQFLSH DFKWHU KHW

JHVWHOGDDQGHLQSDVVLQJHQLQULFKWLQJYDQKHWHUI



KRRIGJHERXZFTDFKWHUGHDFKWHUJHYHOURRLOLMQ

‡ 'HRYHUKHHUVHQGHQRNULFKWLQJYDQPHWQDPHGHJURWHUH +LHUQDYROJWHHQEHVFKULMYLQJYDQGHWHKDQWHUHQEHHOGNZD



OLWHLWHLVHQ+HWJDDWKLHUELMDOWLMGRPDOJHPHQHSULQFLSHRS

‡ %XLWHQRSVODJ ELM YRRUNHXU RS HHQ RQRSYDOOHQGH

ORVVLQJHQGLHXLWHUDDUGQDDUGHVSHFLÀHNHVLWXDWLHGLHQHQWH



WHUXJOLJJHQGH SOHN RS KHW HUI HQ ]R PRJHOLMN LQSDVVHQ

ZRUGHQGRRUYHUWDDOG



PHWEHSODQWLQJ

ERXZYROXPHV VFKXUHQHQVWDOOHQ LVKDDNVRSGHZHJ

‡ 9RHGHUVLOR·V]RYHHOPRJHOLMNYHUGHNWRSVWHOOHQEYDFKWHU 1HGHU]HWWLQJVYRUP



‡ 'H EHERXZLQJ RS HHQ LQIRUPHOH ZLM]H URRLOLMQ  ODQJV

‡ 6OHXIVLOR·V ]RYHHO PRJHOLMN XLWZHQGLJ DDQDDUGHQ HQ



GH ZHJ JHVLWXHHUG YRUPW HHQ ´RSHQµ OLQW PHW UXLPH





GRRU]LFKWHQ QDDU GH DFKWHUOLJJHQGH DNNHU DDQ GH HQH



]LMGH HQ KHW EHHNGDO DDQ GH DQGHUH ]LMGH 2RN NRPW

%HERXZLQJ



VROLWDLUHEHERXZLQJYRRU

:RRQKXLV

GHJHERXZHQHQ]RPLQPRJHOLMNLQ]LFKWYDQDIGHZHJ

LQ]DDLHQPHWHHQNUXLGHQULMNHYHJHWDWLH

‡ 4XDSRVLWLRQHULQJHQXLWVWUDOLQJKHWKRRIGJHERXZYDQKHW



9RUPHUI



‡ 'HERXZEORNNHQDDQGHEHHNGDO]LMGH]LMQVPDOHQGLHS

‡ %HERXZLQJVKRRJWH RYHUZHJHQG LQ ppQ ERXZODDJ PHW





DDQGHDQGHUH]LMGHYHHODOEUHGHUHQPLQGHUGLHS

ERXZEORN

NDS

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

‡ (HQGXLGLJHKHOGHUHERXZYRUPPHW

‡ ,QSULQFLSHWRHSDVVLQJYDQ]DGHOGDNPHWÁDXZHGDNKHOOLQJ

‡ 7RHSDVVLQJYDQ]DGHOGDN RIYDULDQWHQPHWZROIVHLQGHQ





‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ

VFKLOGNDSHG 

‡ 7UDGLWLRQHOH ERXZWUDQW LQ DDQVOXLWLQJ RS KLVWRULVFK 

HQODJHJRRW

‡ 6LOR·V]RYHHOPRJHOLMNJURHSVJHZLMVEXQGHOHQ

ODQGVFKDSSHOLMN PLOLHX

‡ 7RHSDVVLQJ YDQ WUDGLWLRQHOH ERXZPDWHULDOHQ ]RDOV

(UIEHSODQWLQJ



‡ =LMHUIJUHQ]HQ ZRUGHQ YROOHGLJ LQJHSODQW PHW HHQ

EDNVWHHQKRXWNHUDPLVFKHSDQHG

‡ *HEUXLN YDQ JHGHNWH NOHXUHQ RS JURWHUH RSSHUYODNNHQ



KRXWVLQJHORIERPHQULM



PHWOLFKWHDFFHQWHQ NR]LMQHQGDNOLMVWHQERHLERRUGHQ

‡ $OVFXOWXXUYRUPNRPHQLQKHWEHHNGDOSRSXOLHUHQDNNHUV



HWF 



YRRUGHNORPSHQLQGXVWULH HQNQRWERPHQYRRU

‡ 'H DFKWHUHUIJUHQV EOLMIW GHHOV RSHQ IXQFWLRQHOH UHODWLH %HGULMIVEHERXZLQJ



PHWDJUDULVFKHJURQGHQ HQZRUGWGHHOVLQJHSODQW

‡ (HQGXLGLJHKHOGHUHERXZYRUP

8LWJDQJVSXQW

(YHQWXHOHXLWEUHLGLQJ



‡ 'H YRRUHUIJUHQV EOLMIW HYHQHHQV GHHOV RSHQ ZDDUGRRU

%RGHPW\SH



*URQGZDWHUWUDSSHQRYHUZHJHQGOOO *+**/*

]LFKWRSKHWZRRQKXLVEHKRXGHQEOLMIW

/DJHHQNHHUGJURQGHQOHPLJÀMQ]DQG

‡ 1DDVW IXQFWLRQHOH YHUKDUGH GHOHQ ZRUGHQ DDQ GH 

ZHJ]LMGH RRN EORNKDJHQ HQ JUDVYODNNHQ LQJH]HW RP KHW

3ODQWVRUWLPHQW



DOJHKHOHEHHOGWHYHU]DFKWHQ

%RRPODDJ

=ZDUWHHOV 



$OQXVJOXWLQRVD

‡ %RRPJURHSHQ RI VROLWDLUHQ DDQJHSODQW RS VWUDWHJLVFKH









6FKLHWZLOJ 



6DOL[DOED



SOHNNHQYHU]DFKWHQKHWEHHOGYDQEHGULMIVJHERXZHQHQ









*HZRQHHV 



)UD[LQXVH[FHOVLRU



VLOR·V









&DQDGHVHSRSXOLHU 3RSXOXVFDQDGHQVLV









=DFKWHEHUN

‡ %LM GH HUIEHSODQWLQJ WRHSDVVLQJ YDQ ODQGVFKDSSHOLMNH 



%HWXODSXEHVFHQV

EHSODQWLQJVHOHPHQWHQHQVWUHHNHLJHQVRRUWHQ

‡ 5RQG GH ZRQLQJ LV LQ GH VLHUWXLQ WRHSDVVLQJ YDQ H[RWHQ

6WUXLNODDJ 0HLGRRUQ





&UDWDHJXVPRQRJ\QD



PRJHOLMN 'H VLHUWXLQ YRUPW ELQQHQ KHW ERXZEORN HHQ









/LJXVWHU 





/LJXVWUXPYXOJDUH



]HOIVWDQGLJHOHPHQWHQZRUGWELMYRRUNHXURP]RRPGPHW









*HZRQHYRJHONHUV 3UXQXVSDGXV



KDJHQ









*HZRQHYOLHU 

6DPEXFXVQLJUD

‡ %LMODQJJHYHOERHUGHULMHQGLHYHHODOGLFKWRSGHZHJVWDDQ 

EHKRXGW GH VPDOOH YRRUWXLQ ELM YRRUNHXU HHQ RSHQ



NDUDNWHUPHWHHQHHQYRXGLJEORNKDDJMHDOVRPOLMVWLQJ

‡ %RGHPW\SH HQ GDDUELMEHKRUHQGH JHELHGVHLJHQ ERRP 

HQVWUXLNYRUPHQ]LMQRQGHUDQGHUH





6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL



.DPSHQHQ+RHYHQODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 .DPSHQHQ+RHYHQODQGVFKDS

XLWJDQJVSXQW 'DW EHWHNHQW RRN GDW KHW RQUHJHOPDWLJH

'LW ODQGVFKDS NHQPHUNW ]LFK GRRU HHQ JULOOLJ SDWURRQ

YHUNDYHOLQJVSDWURRQ KHUNHQEDDU EOLMIW GDQ ZHO YHUVWHUNW

YDQ ZHJHQ HQ ZDWHUORSHQ 'LW EHWUHIW HHQ WH EHKRXGHQ

ZRUGWELMRQWZLNNHOLQJHQRSGHVFKDDOYDQHHQLQGLYLGXHHO

VWUXFWXXUNHQPHUNGDWGRRUUXLPWHOLMNHRQWZLNNHOLQJHQNDQ

HUI 'DDUQDDVW NDQ GH VWUXFWXXU YHUVWHYLJG ZRUGHQ GRRU

ZRUGHQ YHUVWHUNW 'H YHUNDYHOLQJ LV HYHQHHQV DIZLVVHOHQG HQ LV RQUHJHOPDWLJ YDQ YRUP +HW ODQGVFKDSVEHHOG LV LQ SULQFLSHVWHUNZLVVHOHQGHQDOWLMGNOHLQVFKDOLJYDQNDUDNWHU RQWZLNNHOLQJHQPRHWHQ]LFKGDDUELQQHQYRHJHQ

+HLVWUDDW

.DPSHQODQGVFKDS +HWGRHOLVRPGHZDDUGHYROOHVWUXFWXXUYDQKHWODQGVFKDS KHUNHQEDDU WH KRXGHQ +LHUELM LV EHKRXGHQ HQ YHUVWHUNHQ YDQ GH DIZLVVHOLQJ LQ RSHQKHLG HQ EHVORWHQKHLG KHW +HWNDPSHQODQGVFKDSQDELM'LHVVHQ



GH DDQSODQW YDQ ODQGVFKDSVHOHPHQWHQ KRXWZDOOHQ HQ

1HGHU]HWWLQJVYRUP

ZHJEHSODQWLQJ YRRUDO RRN EXLWHQ GH HUYHQ 2RN LV HHQ

‡ 'HEHERXZLQJLVRSLQIRUPHOHZLM]H URRLOLMQ HQYHHODO

JRHGH HUIEHSODQWLQJ EHODQJULMN YRRU GH ODQGVFKDSSHOLMNH



VWUXFWXXU HQ VDPHQKDQJ WXVVHQ GH HUYHQ HQ RPOLJJHQGH

‡ 2RNNRPWVROLWDLUHEHERXZLQJYRRUGLHYHHODOGLUHFWDDQ

ODQGERXZJURQGHQ



GHZHJRILQFLGHQWHHOLQKHWYULMHYHOGDDQHHQ



LQVWHHNZHJMHOLJW

YHUVSUHLGODQJVGHZHJJHVLWXHHUG

%HHOGNZDOLWHLW ,QGLHQ]LFKWHUSODDWVHYDQHHQHUIRQWZLNNHOLQJHQYRRUGRHQ

9RUPHUI

NXQQHQ

‡ 'HERXZEORNNHQ]LMQYDDNRQUHJHOPDWLJJHYRUPGHQ

ELQQHQ GH NDGHUV YDQ YHUJXQQLQJYHUOHQLQJ

SODQKHU]LHQLQJ RI RQWKHIÀQJHQ  QDGHUH HLVHQ ZRUGHQ



YRHJHQ]LFKQDDUGHVLWXDWLH+LHUELMZRUGWLQJHVSHHOGRS

JHVWHOGDDQGHLQSDVVLQJHQLQULFKWLQJYDQKHWHUI



EHVWDDQGHODQGVFKDSVHOHPHQWHQLQGHGLUHFWHRPJHYLQJ

+LHUQDYROJWHHQEHVFKULMYLQJYDQGHWHKDQWHUHQEHHOGNZD

,QULFKWLQJHUI

OLWHLWHLVHQ+HWJDDWKLHUELMDOWLMGRPDOJHPHQHSULQFLSHRS

‡ 'HZRQLQJHQZRRQJHGHHOWHQ]LMQSULPDLURSGHZHJ RI

ORVVLQJHQGLHXLWHUDDUGQDDUGHVSHFLÀHNHVLWXDWLHGLHQHQWH



ZRUGHQGRRUYHUWDDOG

‡ %HGULMIVJHERXZHQOLJJHQLQSULQFLSHLQGHWZHHGHOLMQ 

LQGHULFKWLQJYDQGHZHJ JHULFKW

DFKWHUGHDFKWHUJHYHOURRLOLMQ

‡ (HQRYHUKHHUVHQGHQRNULFKWLQJLVQLHWDDQGHRUGH 

PHWGHSODDWVLQJYDQ RRNGHJURWHUH ERXZYROXPHV



ZRUGWLQJHVSHHOGRSGHVSHFLÀHNHVLWXDWLH

‡ %XLWHQRSVODJELMYRRUNHXURSHHQRQRSYDOOHQGH



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL



WHUXJOLJJHQGHSOHNRSKHWHUIHQ]RPRJHOLMNLQSDVVHQ

‡ 7UDGLWLRQHOHERXZWUDQWLQDDQVOXLWLQJRSKLVWRULVFK



PHWEHSODQWLQJ



ODQGVFKDSSHOLMN PLOLHX

‡ 9RHGHUVLOR·V]RYHHOPRJHOLMNYHUGHNWRSVWHOOHQEYWXVVHQ

‡ 7RHSDVVLQJYDQWUDGLWLRQHOHERXZPDWHULDOHQ]RDOV





GHJHERXZHQHQ]RPLQPRJHOLMNLQ]LFKWYDQDIGHZHJ

EDNVWHHQKRXWNHUDPLVFKHSDQHYW GHHO ULHWHG

‡ 6OHXIVLOR·V]RYHHOPRJHOLMNXLWZHQGLJDDQDDUGHQHQ

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ





PHWOLFKWHDFFHQWHQ NR]LMQHQGDNOLMVWHQERHLERRUGHQ



HWF 

LQ]DDLHQPHWHHQNUXLGHQULMNHYHJHWDWLH

%HERXZLQJ :RRQKXLV

%HGULMIVEHERXZLQJ

‡ %HERXZLQJVKRRJWHRYHUZHJHQGLQHHQERXZODDJPHW

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ ,QSULQFLSHWRHSDVVLQJYDQ]DGHOGDNPHWÁDXZHGDNKHOOLQJ

NDS

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ 7RHSDVVLQJYDQ]DGHOGDN RIYDULDQWHQPHWZROIVHLQGHQ

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ



‡ 6LOR·V]RYHHOPRJHOLMNJURHSVJHZLMVEXQGHOHQ

VFKLOGNDSHG 

8LWJDQJVSXQW

HQODJHJRRW

(YHQWXHOHXLWEUHLGLQJ



(UIEHSODQWLQJ



EHKRXGWGHVPDOOHYRRUWXLQELMYRRUNHXUHHQRSHQ

‡ (UIJUHQ]HQZRUGHQYROOHGLJLQJHSODQWPHWHHQKRXWVLQJHO



NDUDNWHUPHWHHQHHQYRXGLJEORNKDDJMHDOVRPOLMVWLQJ



‡ ,QGLHQVSUDNHLVYDQHHQLQVWHHNZHJMHZRUGWRRNGLW

RIERPHQULM

‡ $IKDQNHOLMNYDQGHEHGULMIVRS]HWEOLMIWHHQRQGHUJHVFKLNW



LQJHSODQWPHWHHQHQNHOPDDUELMYRRUNHXUGXEEHO]LMGLJH



GHHOYDQHHQYDQGHHUIJUHQ]HQRQEHSODQWWEYGH



ODDQEHSODQWLQJ



WRHJDQJWRWGHDJUDULVFKHSHUFHOHQ

‡ %RGHPW\SH HQ GDDUELMEHKRUHQGH JHELHGVHLJHQ ERRP

‡ 1DDVWIXQFWLRQHOHYHUKDUGHGHOHQZRUGHQRRNEORNKDJHQ 

JUDVYODNNHQHQYUXFKWERPHQLQJH]HWRPKHWDOJHKHOH



EHHOGWHYHU]DFKWHQ



HQVWUXLNYRUPHQ]LMQRQGHUDQGHUH

%RGHPW\SH





9HOGSRG]ROJURQGHQOHPLJÀMQ]DQG

‡ .OHLQHERVSHUFHOHQ]LMQWRHSDVEDDURSRQUHQGDEHOH

*URQGZDWHUWUDSSHQ 99O9OO *+*!





KRHNHQHQGUDJHQELMDDQGHUXLPWHOLMNHDIZLVVHOLQJ













*/*!

‡ %RRPJURHSHQRIVROLWDLUHQDDQJHSODQWRSVWUDWHJLVFKH 

SOHNNHQYHU]DFKWHQKHWEHHOGYDQEHGULMIVJHERXZHQHQ

3ODQWVRUWLPHQW



VLOR·V

%RRPODDJ

=RPHUHLN



4XHUFXVUREXU

‡ %LMGHHUIEHSODQWLQJWRHSDVVLQJYDQODQGVFKDSSHOLMNH









6FKHUSHEHUN 

%HWXODSHQGXOD



EHSODQWLQJVHOHPHQWHQHQVWUHHNHLJHQVRRUWHQ









+DDJEHXN



&DUSLQXVEHWXOXV

‡ 5RQGGHZRQLQJLVLQGHVLHUWXLQYDQ]HOIVSUHNHQG









(XURSHVHOLQGH 

7LOLDHXURSDHXV



WRHSDVVLQJYDQH[RWHQPRJHOLMN'HVLHUWXLQYRUPWELQQHQ









%HXN 







)DJXVV\OYDWLFD



KHWERXZEORNHHQ]HOIVWDQGLJHOHPHQWHQZRUGWELM









(OV







$OQXVLQFDQD



YRRUNHXURP]RRPGPHWKDJHQ









3DDUGHQNDVWDQMH $HVFXOXVKLSSRFDVWDQXP







‡ %LMODQJJHYHOERHUGHULMHQGLHYHHODOGLFKWRSGHZHJVWDDQ



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

6WUXLNODDJ .UHQW





$PHODQFKLHUODPDUFNLL









%HUJYOLHU



6DPEXFXVUDFHPRVD









.RUQRHOMH



&RUQXVPDV









6OHHGRRUQ 

3UXQXVVSLQRVD









+D]HODDU

&RU\OXVDYHOODQD









=RHWHNULHN 



3UXQXVDYLXP



2XGH]DQGRQWJLQQLQJVODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 2XGH]DQGRQWJLQQLQJVODQGVFKDS 'H NOHLQVFKDOLJH ]DQGODQGVFKDSSHQ ]LMQ JHYDULHHUG LQ KHW

GHRSHQUXLPWHVWXVVHQHQQDDVWGLHOLQWHQ

JHEUXLNHQVWUXFWXXU/DQJVGHPHWERPHQEHSODQWHZHJHQ

'HNHQPHUNHQGHNOHLQVFKDOLJKHLGGLHQWLQVWDQGWHZRUGHQ

VWDDQ ERHUGHULMHQ DI HQ WRH HHQ EXUJHUZRQLQJHQ RI HHQ

JHKRXGHQ 'H]H ZRUGW EHSDDOG GRRU NOHLQH SHUFHOHQ

NZHNHULM %LMJHERXZHQ VWDDQ JH]LHQ YDQDI GH GRRUJDDQGH

JHERJHQ YRUPHQ HQ HHQ YHHOKHLG DDQ JURHQH HOHPHQWHQ

ZHJHQ QHW DFKWHU GH ZRRQKXL]HQ 9DQDI GH ZHJ ]LMQ KHW

VLQJHOV KRXWZDOOHQ ZHJEHSODQWLQJHQ HQ NOHLQVFKDOLJH

YRRUDO GH ZRQLQJHQ WXLQHQ HQ ODQGERXZSHUFHOHQ GLH KHW

ERVMHV 

EHHOG EHSDOHQ 5HJHOPDWLJ LV WXVVHQ GH EHERXZLQJ UXLP

'HEROOHDNNHUVPRHWHQLQGHWRHNRPVWRSHQEOLMYHQ/DQJVGH

]LFKWPRJHOLMNRSKHWDFKWHUOLJJHQGHDNNHUFRPSOH[

ZHJHQRYHUHHQHVPRHWJHHQEHSODQWLQJZRUGHQDDQJHOHJG RP GH RSHQKHLG WH EHKRXGHQ (QNHOH VROLWDLUH ERPHQ RI ERRPJURHSHQ RS HHQ EROOH DNNHU ]LMQ ZHO PRJHOLMN PDDU GLHQHQGHUXLPWHOLMNHRSHQKHLGQLHWDDQWHWDVWHQ

2XGH]DQGRQWJLQQLQJHQ +LHU GRPLQHUHQ JUDVODQG HQ DNNHUV DIJHZLVVHOG PHW ERRPNZHNHULMHQLQYROOHJURQG%RPHQODQJVZHJHQRSGH HUYHQ KDJHQ HQ HHQ HQNHOH KRXWZDO JHYHQ GH EHERXZGH OLQWHQHHQEHVORWHQHQJURHQNDUDNWHUZDWFRQWUDVWHHUWPHW

(VEHHN



%HHOGNZDOLWHLW



RSEHVWDDQGHODQGVFKDSVHOHPHQWHQLQGHGLUHFWH

,QGLHQ]LFKWHUSODDWVHYDQHHQHUIRQWZLNNHOLQJHQYRRUGRHQ



RPJHYLQJ5HODWLHIYDNHUJHVWUHNWHUIODQJVGHZHJ

NXQQHQ



ELQQHQ GH NDGHUV YDQ YHUJXQQLQJYHUOHQLQJ

SODQKHU]LHQLQJ RI RQWKHIÀQJHQ  QDGHUH HLVHQ ZRUGHQ

,QULFKWLQJHUI

JHVWHOGDDQGHLQSDVVLQJHQLQULFKWLQJYDQKHWHUI

‡ 'HZRQLQJHQZRRQJHGHHOWHQ]LMQSULPDLURSGHZHJ RI

+LHUQDYROJWHHQEHVFKULMYLQJYDQGHWHKDQWHUHQEHHOGNZD



OLWHLWHLVHQ+HWJDDWKLHUELMDOWLMGRPDOJHPHQHSULQFLSHRS

‡ %HGULMIVJHERXZHQOLJJHQLQSULQFLSHLQGHWZHHGHOLMQ

ORVVLQJHQGLHXLWHUDDUGQDDUGHVSHFLÀHNHVLWXDWLHGLHQHQWH



ZRUGHQGRRUYHUWDDOG

‡ (HQRYHUKHHUVHQGHQRNULFKWLQJLVQLHWDDQGHRUGH

LQGHULFKWLQJYDQGHZHJ JHULFKW

DFKWHUGHDFKWHUJHYHOURRLOLMQ



PHWGHSODDWVLQJYDQ RRNGHJURWHUH ERXZYROXPHV

1HGHU]HWWLQJVYRUP



ZRUGWLQJHVSHHOGRSGHVSHFLÀHNHVLWXDWLH,QGLHQKHW

‡ 'HEHERXZLQJLVRSLQIRUPHOHZLM]H URRLOLMQ HQYHHODO



KRRIGJHERXZHHQODQJJHYHOERHUGHULMLVGDQOLJJHQGH



YHUVSUHLGODQJVGHZHJJHVLWXHHUG9HHODOGLFKWELMGH



ERXZYROXPHVYHHODOSDUDOOHODDQGHZHJ



ZHJ

‡ %XLWHQRSVODJELMYRRUNHXURSHHQRQRSYDOOHQGH

‡ 2RNNRPWVROLWDLUHEHERXZLQJYRRUGLHYHHODOGLUHFWDDQ



WHUXJOLJJHQGHSOHNRSKHWHUIHQ]RPRJHOLMNLQSDVVHQ



GHZHJRILQFLGHQWHHOLQKHWYULMHYHOGDDQHHQ



PHWEHSODQWLQJ



LQVWHHNZHJMHOLJW

‡ 9RHGHUVLOR·V]RYHHOPRJHOLMNYHUGHNWRSVWHOOHQEYWXVVHQ 

GHJHERXZHQHQ]RPLQPRJHOLMNLQ]LFKWYDQDIGHZHJHQ

9RUPHUI



RSHQDNNHU

‡ 'HERXZEORNNHQ]LMQYDDNRQUHJHOPDWLJJHYRUPGHQ

‡ 6OHXIVLOR·V]RYHHOPRJHOLMNXLWZHQGLJDDQDDUGHQHQ





YRHJHQ]LFKQDDUGHVLWXDWLH+LHUELMZRUGWLQJHVSHHOG

LQ]DDLHQPHWHHQNUXLGHQULMNHYHJHWDWLH

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL



HWF 

%HERXZLQJ :RRQKXLV

%HGULMIVEHERXZLQJ

‡ %HERXZLQJVKRRJWHRYHUZHJHQGLQHHQERXZODDJPHW

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ ,QSULQFLSHWRHSDVVLQJYDQ]DGHOGDNPHWÁDXZHGDNKHOOLQJ

NDS

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ 7RHSDVVLQJYDQ]DGHOGDN RIYDULDQWHQPHWZROIVHLQGHQ

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ



‡ 6LOR·V]RYHHOPRJHOLMNJURHSVJHZLMVEXQGHOHQ

VFKLOGNDSHG 

HQODJHJRRW

‡ 7UDGLWLRQHOHERXZWUDQWLQDDQVOXLWLQJRSKLVWRULVFK 

ODQGVFKDSSHOLMN PLOLHX

‡ 7RHSDVVLQJYDQWUDGLWLRQHOHERXZPDWHULDOHQ]RDOV 

EDNVWHHQKRXWNHUDPLVFKHSDQHYW GHHOV ULHWHG

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ 

PHWOLFKWHDFFHQWHQ NR]LMQHQGDNOLMVWHQERHLERRUGHQ

8LWJDQJVSXQW

(YHQWXHOHXLWEUHLGLQJ



(UIEHSODQWLQJ

‡ ,QGLHQVSUDNHLVYDQHHQLQVWHHNZHJMHZRUGWRRNGLW

‡ =LMGHOLQJVHHUIJUHQ]HQZRUGHQYROOHGLJLQJHSODQWPHW



LQJHSODQWPHWHHQHQNHOPDDUELMYRRUNHXUGXEEHO]LMGLJH





ODDQEHSODQWLQJ

HHQKRXWVLQJHORIERPHQULM

‡ $IKDQNHOLMNYDQGHEHGULMIVRS]HWEOLMIWHHQRQGHUJHVFKLNW

‡ %RGHPW\SH HQ GDDUELMEHKRUHQGH JHELHGVHLJHQ ERRP



GHHOYDQGHHUIJUHQ]HQRQEHSODQWWEYGHWRHJDQJWRW





GHDJUDULVFKHSHUFHOHQ

HQVWUXLNYRUPHQ]LMQRQGHUDQGHUH

‡ 1DDVWIXQFWLRQHOHYHUKDUGHGHOHQZRUGHQGLUHFWURQGGH

%RGHPW\SH





+RJH]ZDUWHHQNHHUGJURQGHQOHPLJ



ZRQLQJRRNEORNKDJHQJUDVYODNNHQHQYUXFKWERPHQ







ÀMQ]DQG



LQJH]HWRPKHWDOJHKHOHEHHOGWHYHU]DFKWHQ

*URQGZDWHUWUDSSHQ 9O9OO *+*!*/*!









‡ %RRPJURHSHQRIVROLWDLUHQDDQJHSODQWRSVWUDWHJLVFKH 

SOHNNHQYHU]DFKWHQKHWEHHOGYDQEHGULMIVJHERXZHQHQ

3ODQWVRUWLPHQW



VLOR·VRSRYHUKRHNHQ

%RRPODDJ

=RPHUHLN



4XHUFXVUREXU

‡ %LMGHHUIEHSODQWLQJWRHSDVVLQJYDQODQGVFKDSSHOLMNH









6FKHUSHEHUN 

%HWXODSHQGXOD











+DDJEHXN



&DUSLQXVEHWXOXV

‡ 5RQGGHZRQLQJLVLQGHVLHUWXLQWRHSDVVLQJYDQH[RWHQ









(XURSHVHOLQGH 

7LOLDHXURSDHXV



PRJHOLMN'HVLHUWXLQYRUPWELQQHQKHWERXZEORNHHQ









%HXN 







)DJXVV\OYDWLFD



]HOIVWDQGLJHOHPHQWHQZRUGWELMYRRUNHXURP]RRPGPHW









(OV







$OQXVLQFDQD



KDJHQDDQGHZRQLQJ]LMGHYDQGHERHUGHULM









3DDUGHQNDVWDQMH $HVFXOXVKLSSRFDVWDQXP

EHSODQWLQJVHOHPHQWHQHQVWUHHNHLJHQVRRUWHQ







‡ %LMODQJJHYHOERHUGHULMHQGLHYHHODOGLFKWRSGHZHJVWDDQ





EHKRXGWGHVPDOOHYRRUWXLQELMYRRUNHXUHHQRSHQ



NDUDNWHUPHWHHQHHQYRXGLJEORNKDDJMHDOVRPOLMVWLQJ

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

6WUXLNODDJ .UHQW





$PHODQFKLHUODPDUFNLL









%HUJYOLHU



6DPEXFXVUDFHPRVD









.RUQRHOMH



&RUQXVPDV









6OHHGRRUQ 

3UXQXVVSLQRVD









+D]HODDU

&RU\OXVDYHOODQD









=RHWHNULHN 



3UXQXVDYLXP



-RQJH]DQGRQWJLQQLQJVODQGVFKDS



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 -RQJH]DQGRQWJLQQLQJVODQGVFKDS ,QGHJURRWVFKDOLJHRQWJLQQLQJHQEOLMIWODQGERXZGHGUDJHU YDQ KHW ODQGVFKDS 'H NHQPHUNHQGH RSHQKHLG ]DO KLHU EHKRXGHQEOLMYHQ'HWRHYRHJLQJYDQJHwVROHHUGHEHSODQWLQJ UXLJWHVWURNHQ HQ VWHYLJH HUIEHSODQWLQJ ]RUJHQ YRRU GH JHZHQVWHPDDUQRJDOWLMGDDQGHRSHQKHLGRQGHUJHVFKLNWH DIZLVVHOLQJELQQHQGHRSHQKHLG

2SHQKHLG

-RQJHRQWJLQQLQJHQ +RHZHO GH QDGUXN LQ GH]H JHELHGHQ RS GH DJUDULVFKH RQWZLNNHOLQJ OLJW ]LMQ KLHU RRN NDQVHQ YRRU QDWXXU 'H RSHQ ZHLODQGHQ ]LMQ QDPHOLMN JHVFKLNWH EURHGSODDWVHQ YRRU ZHLGHYRJHOV ,Q HHQ DDQWDO JHELHGHQ ZRUGHQ GDDURP LQULFKWLQJVPDDWUHJHOHQ YRRU ZHLGHYRJHOV JHQRPHQ ]RDOV KHWDDQOHJJHQYDQSRHOHQHQ¶YOXFKWVWURNHQ·

3RHO



%HHOGNZDOLWHLW

,QULFKWLQJHUI

,QGLHQ]LFKWHUSODDWVHYDQHHQHUIRQWZLNNHOLQJHQYRRUGRHQ

‡ 'HZRQLQJHQZRRQJHGHHOWHQ]LMQSULPDLURSGHZHJ

NXQQHQ

ELQQHQ GH NDGHUV YDQ YHUJXQQLQJYHUOHQLQJ



RILQGHULFKWLQJYDQGHZHJ JHULFKWHQOLJJHQYHHODO

SODQKHU]LHQLQJ RI RQWKHIÀQJHQ  QDGHUH HLVHQ ZRUGHQ



RSHQLJHDIVWDQGYDQGHZHJ

JHVWHOGDDQGHLQSDVVLQJHQLQULFKWLQJYDQKHWHUI

‡ %HGULMIVJHERXZHQOLJJHQLQSULQFLSHLQGHWZHHGHOLMQ

+LHUQDYROJWHHQEHVFKULMYLQJYDQGHWHKDQWHUHQEHHOGNZD



OLWHLWHLVHQ+HWJDDWKLHUELMDOWLMGRPDOJHPHQHSULQFLSHRS

‡ 'HRYHUKHHUVHQGHQRNULFKWLQJYDQPHWQDPHGH

ORVVLQJHQGLHXLWHUDDUGQDDUGHVSHFLÀHNHVLWXDWLHGLHQHQWH



JURWHUHERXZYROXPHV VFKXUHQHQVWDOOHQ LVKDDNVRS

ZRUGHQGRRUYHUWDDOG



GHZHJGDDUQDDVWLVRRNHHQSDUDOOHOOHRSVWHOOLQJ



WRYGHZHJPRJHOLMN(ULVLQLHGHUJHYDOVSUDNHYDQ

1HGHU]HWWLQJVYRUP



HHQHHQGXLGLJHQRNULFKWLQJSHUHUI

‡ 'HEHERXZLQJLVRSORJLVFKHZLM]H URRLOLMQ HQYHHODO

‡ %XLWHQRSVODJELMYRRUNHXURSHHQRQRSYDOOHQGH



YHUVSUHLGODQJVGHZHJJHVLWXHHUGRSJURWHUHHUYHQ



WHUXJOLJJHQGHSOHNRSKHWHUIHQ]RPRJHOLMNLQSDVVHQ



LYPPDFKLQDOHLQULFKWLQJ



PHWEHSODQWLQJ

DFKWHUGHDFKWHUJHYHOURRLOLMQ

‡ 9RHGHUVLOR·V]RYHHOPRJHOLMNYHUGHNWRSVWHOOHQEY



9RUPHUI



DFKWHUGHJHERXZHQHQ]RPLQPRJHOLMNLQ]LFKWYDQDI

‡ 'HERXZEORNNHQ]LMQLQGHUHJHOUHJHOPDWLJJHYRUPG



GHZHJYROJHQVEHERXZLQJVSDWURRQ



HQYHUWRQHQHHQUDWLRQHOHNDUDNWHULVWLHN/HQJWHHQ

‡ 6OHXIVLOR·V]RYHHOPRJHOLMNXLWZHQGLJDDQDDUGHQHQ



EUHHGWH]LMQLQSULQFLSHYDQJHOLMNHRUGHHQYHUOHQHQ





KHWERXZEORNJHHQVSHFLÀHNHULFKWLQJ

LQ]DDLHQPHWHHQNUXLGHQULMNHYHJHWDWLH

6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

%HERXZLQJ :RRQKXLV

%HGULMIVEHERXZLQJ

‡ %HERXZLQJVKRRJWHRYHUZHJHQGLQHHQERXZODDJPHW

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ ,QSULQFLSHWRHSDVVLQJYDQ]DGHOGDNPHWÁDXZH

ULM]LJHNDS

‡ (HQGXLGLJHKHOGHUHERXZYRUP



‡ 7RHSDVVLQJYDQ]DGHOGDN RIYDULDQWHQPHWZROIVHLQGHQ

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ



‡ 6LOR·V]RYHHOPRJHOLMNJURHSVJHZLMVEXQGHOHQ

VFKLOGNDSHG PDQVDUGHRIVDPHQJHVWHOGHNDS

GDNKHOOLQJHQODJHJRRW

‡ 0RGHUQHRIHLJHQWLMGVHERXZWUDQWLQDDQVOXLWLQJRS 

KHW]DNHOLMNUDWLRQHOHPLOLHX

‡ 1DDVWWUDGLWLRQHOHLVRRNWRHSDVVLQJYDQHLJHQWLMGVH 

ERXZPDWHULDOHQ]RDOVEHWRQVWDDOJODVHQ



SODDWPDWHULDDOGHQNEDDU

‡ *HEUXLNYDQJHGHNWHNOHXUHQRSJURWHUHRSSHUYODNNHQ 

PHWOLFKWHDFFHQWHQ NR]LMQHQGDNOLMVWHQERHLERRUGHQ



HWF 

8LWJDQJVSXQW

(YHQWXHOHXLWEUHLGLQJ



(UIEHSODQWLQJ



‡ 'HLQULFKWLQJYDQKHWYRRUHUIKHHIWYRRUQDPHOLMNHHQ



EORNKDJHQHQJUDVYODNNHQLQJH]HWRPKHWDOJHKHOH





EHHOGWHYHU]DFKWHQ'LWDDQVOXLWHQGELMGHPDDWHQ

‡ %LMGHODQGVFKDSSHOLMNHLQSDVVLQJLVKHWIRUPHOH



VFKDDOYDQKHWHUILQJURWHUREXXVWHHHQKHGHQ



‡ %LMGHHUIEHSODQWLQJWRHSDVVLQJYDQODQGVFKDSSHOLMNH

IXQFWLRQHHOPDDURRNJURHQNDUDNWHU

UHFKWOLMQLJHNDUDNWHUYDQKHWODQGVFKDSXLWJDQJVSXQW

‡ (UIEHSODQWLQJLQGHYRUPYDQHHQHQNHOHULMERPHQRI





‡ 'HVLHUWXLQEHYLQGW]LFKURQGGHZRQLQJHQYRUPW

EHSODQWLQJVVLQJHOVODQJVGH]LMGHOLQJVHSHUFHHOVJUHQ]HQ

EHSODQWLQJVHOHPHQWHQHQVWUHHNHLJHQVRRUWHQ

‡ .OHLQHERVRSVWDQGHQ SRSXOLHUHQDNNHUV ]LMQRRN



ELQQHQKHWERXZEORNHHQ]HOIVWDQGLJHOHPHQWHQZRUGW



WRHSDVEDDUWEYGHODQGVFKDSSHOLMNHLQSDVVLQJ



ELMYRRUNHXURP]RRPGPHWKDJHQ2RNKLHUELM



ZDDUGRRUGHERXZEORNNHQWRW´JURHQHHLODQGHQµLQGH



YRRUNHXUJURWHUHHHQKHGHQHHQYRXGLJHRS]HW



JURRWVFKDOLJHRSHQKHLGZRUGHQ

‡ %RGHPW\SH HQ GDDUELMEHKRUHQGH JHELHGVHLJHQ ERRP

‡ 'H]HKRXWRSVWDQGHQNXQQHQDOVUHVHUYHULQJYRRU



HQVWUXLNYRUPHQ]LMQRQGHUDQGHUH



WRHNRPVWLJHXLWEUHLGLQJJHOGHQZDDUELMRYHULJHQV



DOWLMGHHQVWHYLJHUDQGEHSODQWLQJGLHQWWHZRUGHQ

%RGHPW\SH





JHKDQGKDDIG



 











9HOGSRG]ROJURQGHQOHHPDUPHQ]ZDN OHPLJÀMQ]DQG

‡ (UIJUHQ]HQZRUGHQEOLMYHQYROOHGLJLQJHSODQWPHWHHQ

*URQGZDWHUWUDSSHQ OOO *+**/* HQ9O *+*





KRXWVLQJHORIERPHQULM













*/*!

‡ $IKDQNHOLMNYDQGHEHGULMIVRS]HWEOLMIWHHQ 

RQGHUJHVFKLNWGHHOYDQHHQYDQGHHUIJUHQ]HQ



RQEHSODQWWEYGHWRHJDQJWRWGHDJUDULVFKHSHUFHOHQ

‡ 1DDVWIXQFWLRQHOHYHUKDUGHGHOHQZRUGHQRRN



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

3ODQWVRUWLPHQW %RRPODDJ







=RPHUHLN



4XHUFXVUREXU















6FKHUSHEHUN

%HWXODSHQGXOD















+ROODQGVHLHS

8OPXVKROODQGLFD















*HZRQHHV 

)UD[LQXVH[FHOVLRU

YRFKWLJHUJURQGHQ

=DFKWHEHUN

%HWXODSXEHVFHQV 















=ZDUWHHOV 

$OQXVJOXWLQRVD















&DQDGHVHSRSXOLHU





















3RSXOXVFDQDGHQVLV

6WUXLNODDJ 





0HLGRRUQ



&UDWDHJXVPRQRJ\QD















6OHHGRRUQ 

3UXQXVVSLQRVD















.RUQRHOMH

&RUQXVPDV















*HOGHUVHURRV

9LEXUQXPRSXOXV















*HZRQHYOLHU

6DPEXFXVQLJUD















*HZRQHOLJXVWHU /,JXVWUXPYXOJDUH









%RVHQQDWXXUJHELHGHQ



6WUXFWXXUYLVLH%XLWHQJHELHG+LOYDUHQEHHN*HPHHQWH+LOYDUHQEHHNMDQXDUL

 %RVHQQDWXXUJHELHGHQ 'H DPELWLH YRRU GH ERV HQ QDWXXUJHELHGHQ LV JHULFKW RS EHKRXG HQ ZDDU PRJHOLMN YHUVWHUNLQJ YDQ GH UXLPWHOLMNH YHUVFKHLGHQKHLG

1DWXXUZDDUGHQ

ODQGVFKDSVZDDUGHQ

HQ FXOWXXUKLVWRULVFKH ZDDUGHQ ZRUGHQ ]R YHHO PRJHOLMN JHPD[LPDOLVHHUG HQ YRUPHQ HHQ LQVSLUDWLHEURQ HQ DDQNQRSLQJVSXQW YRRU UXLPWHOLMNH RQWZLNNHOLQJHQ +LHU HQ GDDU NDQ QLHXZH SDVVHQGH EHERXZLQJ LQ GH ODQGJRHGHUHQ GH JUDQGHXU YDQ ODQGJRHGHUHQ YHUVWHUNHQ HQ ]RUJHQ

9HQRSODQGJRHG'H8WUHFKW

YRRU HHQ GXXU]DPH HFRQRPLVFKH GUDJHU YRRU EHKHHU HQ RQGHUKRXG &XOWXXUKLVWRULVFKH VWUXFWXUHQ HQ HOHPHQWHQ ZRUGHQ EHKRXGHQ HQ GDDU ZDDU PRJHOLMN EHWHU ]LFKWEDDU HQ EHOHHIEDDU JHPDDNW 'LW EHWUHIW LQ DOOH JHYDOOHQ PDDWZHUNZDDUYRRUJHHQPHHWEDUHHQXQLIRUPHVSHOUHJHOV RSWRHJHSDVWNXQQHQZRUGHQ'DDUQDDVWLVGH]H]RQHYRRU KHWJURRWVWHGHHORQGHUGHHOYDQGHSURYLQFLDOHJURHQEODXZH NHUQHQPDQWHOKLHULQZRUGWWHUXJKRXGHQGRPJHJDDQPHW IXQFWLHRQWZLNNHOLQJ,QEHVWDDQGHQDWXXUJHELHGHQZRUGHQ EHKHHUVPDDWUHJHOHQ XLWJHYRHUG JHULFKW RS KHW YHUJURWHQ YDQGHELRGLYHUVLWHLW'HOHQYDQGH(+6GLHPRPHQWHHOQRJ LQDJUDULVFKJHEUXLN]LMQZRUGHQRQWZLNNHOG

%ORHPULMNJUDVODQGQDELM+DJKRUVW



 9$%·VELQQHQEHERXZLQJVFRQFHQWUDWLHV

,QKHWYHUZHYLQJVJHELHGJHOGWGDWDOOHHQLQGHEHERXZLQJV