Singapore wants to be broker for Asian infrastructure projects

Singapore wants to be broker for Asian infrastructure projects


Singapore — Singapore is seeking to take up the role as broker for infrastructure projects in Asia by mediating between the interests of investors and countries. Singapore Finance Minister Heng Swee Keat said on Friday (13/07) that in April, the government established the Infrastructure Asia office under the Trade and Industry Ministry. The office would seek out infrastructure-related opportunities across Asia, he added. “The office seeks to bring together the demands or project side and the supply or financing side of infrastructure projects to facilitate the matching of demand and supply,” he said during the DBS Asian Insights Conference in Singapore. He added that in October, the office would hold the Asia-Singapore Infrastructure Roundtable to meet infrastructure project owners and investors. Heng said Asia needed to develop infrastructure to maintain the momentum of the region’s growth, which is expected to hit 6.3 percent annually from 2018 to 2023. “The Asian Development Bank (ADB) estimates that to maintain Asia’s growth momentum, it needs US$26 trillion from 2016 to 2030 or $1.7 trillion per year,” he said.