Australia supports ASEAN’s infrastructure development
Recognising that better infrastructure is vital for ASEAN's future, Australia is today hosting a workshop in Singapore to support the development of ASEAN's infrastructure connectivity.
The workshop, a joint Australia-Singapore initiative, will take place at the Australian High Commission in Singapore and forms a key part of the celebration of the 40th anniversary of Australia – ASEAN relations. It has been designed to promote a hands-on, practical and commercial approach to infrastructure development.
The workshop is drawing on the resources of a range of Australian companies – Macquarie Group, ANZ, NAB – and Infrastructure Australia, reflecting the Australian Government's new economic diplomacy policy. Participants from governments around South East Asia will learn practical strategies from practitioners with experience in areas such as prioritising, developing and financing major infrastructure projects.
ASEAN has determined that it needs to invest $600 billion to build infrastructure in coming years, if it is to realise its full economic potential. Better infrastructure will help connect goods and services to markets and improve communities' access to social and health services across the region. A better-connected, open and prosperous South East Asia will support Australia's trade and investment in the region.
The workshop has been designed to complement Australia's ongoing investments in ASEAN's infrastructure needs, such as the design and construction of the Cao Lanh Bridge in southern Vietnam. Australia has invested $160 million investment in the project since it was launched last year.