SINGAPORE (Aug 20): Singapore has been moving forward on its aim to be the lead broker of infrastructure projects in Southeast Asia, and is intent on getting the private sector more involved.
Globally, government funding accounts for about 40% of infrastructure spending, but in Asia it’s 90% -- an “unsustainable” proportion, Indranee Rajah, minister in Prime Minister Lee Hsien Loong’s office, said Aug. 16 at a regional summit hosted by the Singapore Business Federation.
Seth Tan, executive director of Infrastructure Asia, a year-old Singapore governmental agency, said his outfit can help boost the private-sector portion. The agency is tasked with mobilizing capital and helping connect supply and demand to get infrastructure projects off the ground.
