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ET Infra Focus Summit
September 14, 2017
Development of Infrastructure is a part of nation building and it is important to invest in the infrastructure since it is an essential factor for the nation’s economic growth. With the rise of economies in Asia Pacific, an increasing number of population are rushing to cities, seeking better lifestyles. Concurrently, the Asia Pacific infrastructure is expected to grow by 7% to 8 % a YoY the next decade approaching $ 5.36 trillion annually by 2025 and representing nearly 60 % of the world total.
IT HAS BEEN ESTIMATED THAT BETWEEN 2010 AND 2020, ASIA WILL NEED TO SPEND APPROXIMATELY US $ 8 TRILLION IN ORDER TO MAINTAIN CURRENT LEVELS OF ECONOMIC GROWTH.
Urbanization does create immense economic opportunities and modern Infrastructure can change the face of cities in South East Asia however the rate at which it is happening in Southeast Asia poses a challenging situation for the regions capacity to plan and grow systematically and providing timely, efficient, effective and economically viable infrastructure.
Urban infrastructure is the foundation for sustainable economic growth, environmental sustainability and social equity and The Asian Development Bank estimates that the region must spend at least $210 billion a year between 2016 and 2030, $26 trillion is required by 2030 to resolve Asia’s infrastructure funding gap and $800 billion is necessary to provide 1.5 billion people in the region with access to safe drinking water and sanitation. Southeast Asia needs to invest $16 trillion in transport, energy, telecommunications, water and sanitation. This is more than 60% share of the global investment required. In order to ensure sustainable developments, the technical, institutional, and capacity constraints need to be addressed and the governments need to work towards building stronger and more conducive policy framework, project prioritization and capacity management in order to ease the infrastructure development in the region.