The formation of the ASEAN Economic Community (AEC) by the end of this year will herald many cross-border opportunities for infrastructure investment between the bloc's member states.
The formation of the ASEAN Economic Community (AEC) by the end of this year will herald many cross-border opportunities for infrastructure investment between the bloc’s member states.
This was the shared opinion at a seminar held on July 2 in Singapore by the Building and Construction Authority (BCA), which brought together dozens of construction and infrastructure corporations and enterprises from Southeast Asia and other parts of the world.
Most of the businesses held that the AEC would create a competitive market with 600 million people in multiple sectors including commerce, retail and tourism as well as the region with the highest demand for infrastructure development in the globe.
Demand for capital and building materials in line with the latest technology has turned the ASEAN into a hot spot for infrastructure investment.
Attendees also spoke highly of the Vietnamese government’s drive to set up a legal framework for public-private partnerships (PPP) which opens doors for overseas investors in the field.
Khalid Saleem, General Manager of Transport Business in the Asia Pacific at Australia-based SMEC, said Vietnam has taken a big step in adopting PPP regulations towards improving business transparency.
Vietnam has huge potential to attract infrastructure investment, he affirmed.
Lena Ng, Board Advisor for Thailand’s Amata Public Company, underscored Vietnam’s commitment to build a conducive business climate for foreign investors, noting that the firm is scheduled to expand its business in Vietnam alongside its existing projects in Bien Hoa (Dong Nai province) and Tuan Chau (northern Quang Ninh province).
(Source:VNA)
