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Experts: Resilient infrastructure enhances economic growth

Well-designed, sustainable and resilient infrastructure will enhance economic growth, boost productivity and provide significant positive flow-on effectives, heard a meeting of the APEC Committee on Trade and Investment (CTI) in Ho Chi Minh City on August 19.
Experts: Resilient infrastructure enhances economic growth ảnh 1At the event (Source: VNA)
HCM City (VNA) – Well-designed, sustainable and resilient infrastructure will enhanceeconomic growth, boost productivity and provide significant positive flow-oneffectives, heard a meeting of the APEC Committee on Trade and Investment (CTI)in Ho Chi Minh City on August 19.

The CTI Expert Meetingon Quality Infrastructure Investment was held within the framework of the thirdAPEC Officials Meeting (SOM 3), where APEC member economies shared goodpractices and lessons learned in infrastructure projects.

The event aims toenhance understanding on quality infrastructure investment from bothinstitutional and technical perspectives among high-ranking officials in chargeof infrastructure.

Delegates shared theviews that quality infrastructure investment helps ensure the governance of theinfrastructure, reliable operation during the life span of a project, safetyand resilience against natural disasters, terrorism and cyber attack risks.

At the same time,quality infrastructure investment contributes to job creation for localcommunities and the settlement of environmental and social impacts.

Kazuko Ishigaki, fromJapan’s Ministry of Land, Infrastructure, Transport and Tourism, cited anestimate by the Organisation for Economic Cooperation and Development (OECD) in2011 that the world needs 2.3 trillion USD per year for infrastructureinvestment.

The Asian DevelopmentBank (ADB) recent estimates show that Asia needs 1.7 trillion USD each year forinfrastructure development, she said, stressing that APEC has promotedConnectivity Blueprint for 2015-2025 and related initiatives to boostinfrastructure development.

Kazuko Ishigaki toldVietnam News Agency reporters that like other countries, Vietnam should investin infrastructure in a smart and effective way, explaining that fragileinfrastructure will be easy to be damaged by natural disasters like floods andearthquakes.

“It is important todesign infrastructure in an effective way so that we don’t waste any investmentin infrastructure,” she said.

Nguyen Thanh Son, fromthe International Cooperation Department under the Ministry of Construction,said that with an annual growth rate of more than 6 percent, Vietnam has poureda lot of investment in infrastructure to attract more foreign investors.

He added that thecountry needs 480 billion USD to upgrade its infrastructure from now until2020.-VNA
VNA
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