A construction site in Indonesia (Source: Financial Tribune) Hanoi (VNA) – There are stillbottlenecks in infrastructure investment in Southeast Asia that hamper regionaleconomic growth and connectivity, experts said in an annual conference on Asiancompetitiveness in Singapore on November 23-24.
Dr. Cledan Mandri Petrott from the WorldBank (WB) said ASEAN faces quite serious bottlenecks due to scatteredmanagement frameworks at both central and local levels.
He said most countries in the region lackinstitutional capacity and skills to support public-private partnership (PPP) projectsand environment appraisal, which hinders investment in infrastructure.
WB statistics showed that though regionalinfrastructure investment is almost double gross domestic product growth while privateinvolvement in the field remains limited, nearing 15 billion USD from2012-2016.
Indonesia recorded the largest privateinvestment in infrastructure over the past decade, mostly in energy projects(93 percent). The Philippines ranked second with seven projects worth 5.4billion USD. In Vietnam, PPP projects are predominantly in thermal power withtotal investment of 1.8 billion USD.
Petrott said the WB is committed to workingwith regional countries to improve local lives and promote infrastructureconnectivity in the region.
At the event, policymakers, experts andbusinesses discussed ways to achieve balanced, sustainable and equal growth viatackling bottlenecks in infrastructure investment and improving the role ofsmall and medium-sized enterprises in the process.-VNA
Dr. Cledan Mandri Petrott from the WorldBank (WB) said ASEAN faces quite serious bottlenecks due to scatteredmanagement frameworks at both central and local levels.
He said most countries in the region lackinstitutional capacity and skills to support public-private partnership (PPP) projectsand environment appraisal, which hinders investment in infrastructure.
WB statistics showed that though regionalinfrastructure investment is almost double gross domestic product growth while privateinvolvement in the field remains limited, nearing 15 billion USD from2012-2016.
Indonesia recorded the largest privateinvestment in infrastructure over the past decade, mostly in energy projects(93 percent). The Philippines ranked second with seven projects worth 5.4billion USD. In Vietnam, PPP projects are predominantly in thermal power withtotal investment of 1.8 billion USD.
Petrott said the WB is committed to workingwith regional countries to improve local lives and promote infrastructureconnectivity in the region.
At the event, policymakers, experts andbusinesses discussed ways to achieve balanced, sustainable and equal growth viatackling bottlenecks in infrastructure investment and improving the role ofsmall and medium-sized enterprises in the process.-VNA
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