The participation of the private sector in Association of Southeast Asian Nations (Asean) infrastructure projects is crucial to sustain regional growth and attract much-needed investments. This is what panelists from the private sector, multilateral institutions and governments said in a forum on Monday during the ongoing Asean Business & Investment Summit. Ayala Corp. CEO Jaime Augusto Zobel de Ayala said that with robust growth and demographic dividends, the region was now facing the challenge of rapid urbanization and population shifts. With this, Ayala said Asean urban centers would have to be upgraded as these are catalysts of growth. “This is an extraordinary time for Asean but with growth comes challenges and we have to rely to government and the private sector to surpass this,” he said. For Japan International Cooperation Agency Senior Vice-President Shinya Ejima, quality infrastructure is needed to achieve quality growth in the region. “It means that it should be very inclusive and consistent with the strategies for development and should take into consideration the social and environmental aspects very carefully,” he said. Ejima said the situation of every Asean country was very different, so connectivity projects like ports, airports, and highways are the key for every member… Read full this story
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