Singapore, 21 March 2018 – Building quality infrastructure for Asean’s interconnectivity is necessary within the 10-nation bloc is necessary, quoted Japanese Foreign Minister as he spoke at his first ministerial conference, Inclusive Asean, held under the Organisation for Economic Cooperation and Development’s South-east Asia regional programme.
South-east Asia requires US$210 billion (S$276 billion) of infrastructure investment annually from 2016 to 2030 – or 5.7% of the region’s economy, and only a quarter of this demand is being met, data of the Asian Development Bank stated.
These investments must adhere to such principles as economic efficiency, job creation and transfer of technology, an assessment of the social and environment impact, and openness and transparency in procurement, development and operation.
It is important to keep Asean resilient to challenges such as terrorism, cyber threats and natural disasters, and by promoting and upholding a rules-based regional order for its growing global geopolitical landscape complexity – Digital Technology.
Among Singapore’s areas of focus are advancing trade rules in e-commerce, improving digital connectivity and developing a network of smart cities across the region. Asean’s digital economy is projected to grow 500% to US$200 billion in 2025.
