Asean Needs Usd2 Trillion for Infrastructure by 2030

• 4 October 2016
• Local News
• 684 Views

The six leading ASEAN economies will need to spend around USD2.1 trillion on infrastructure construction by 2030 to provide for their growing urban populations according to HSBC bank.

Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam have been identified as the ASEAN nations most in need of modernising their power and transport networks in reaction to rapid urbanisation and an estimated population growth of over 90 million.In the report, HSBC economist Joseph Incalcaterra said that current trends would only cover USD910 billion, so more private sector financing would be needed along with loans.

“The stakes couldn’t be higher,” Incalcaterra told the Manila Times. “The failure to sustain infrastructure spending will limit long-term potential growth and dampen Asean’s demographic dividend.”