By Patrick Burke CEO, HSBC US ,By Pham Hong Hai CEO, HSBC Vietnam A memorandum of understanding between Singapore and the United States, signed in early April, will see the two countries’ infrastructure agencies work together to facilitate private sector deals across the region in areas such as energy, water, transportation, and urban development. It follows other US announcements of infrastructure financing for the Indo-Pacific region, including its July 2018 trilateral agreement with Australia and Japan. The commercial opportunities for the region and Vietnam, in particular, will be significant and wide-ranging. The ASEAN is the fourth-largest export market of the US. Trade with the ASEAN supports more than half a million American jobs, and nearly 4,700 American companies in the region. Southeast Asia is the top destination for US foreign direct investment in Asia. Moving forward, the ASEAN presents the US with a low-cost production option, a growing consumer base, and … [Read more...] about Is Vietnam ready for American infrastructure foray?
Asian infrastructure investment
Viet Nam is seeking more private investment to finance infrastructure projects, but it also needs to generate higher returns on those investments. Naoyuki Yoshino, dean of the Asian Development Bank Institute (ADB Institute), spoke to Viet Nam News reporters Bo Xuan Hiep and Nguyen Viet Dung about ways to attract private funds for infrastructure development. What is the importance of infrastructure development in Viet Nam? Infrastructure projects generate other benefits in addition to operating revenue like toll fees. For example, a highway may benefit a company through cost savings and increase sales from faster transport of raw materials and final products, as well as generate usage fees. In many developing countries in Asia, including Viet Nam, I’ve observed heavy traffic congestion in cities, and a lack of sufficient highways, trains and various modes of public transport. In Southeast Asia, infrastructure investment worth a total of US$8 billion is implemented every year. … [Read more...] about VN seeks new ways to attract private funds for infrastructure projects
At the 30th APEC Ministerial Meeting (Photo: VNA) Hanoi (VNA) - The Asia-Pacific Economic Cooperation (APEC) forum on November 15 adopted new guidelines on the quality of infrastructure development and investment, with all 21 economies agreeing to take into consideration recipients’ ability to pay back loans for such funding. Japanese Economy, Trade and Industry Minister Hiroshige Seko said after a meeting of APEC foreign and trade ministers in Papua New Guinea that the guidelines call for openness, transparency, cost-effectiveness and fiscal soundness of recipients as international standards for quality infrastructure financing. The agreement comes at a time when countries such as Sri Lanka and Pakistan are saddled with massive debts after signing a series of big loan agreements, mostly from China. The APEC ministers also affirmed the importance of upholding the free trade system despite concerns about US President Donald Trump’s “America First” trade … [Read more...] about APEC adopts guidelines on infrastructure investment
Vice Chairman of the municipal People’s Committee Le Thanh Liem on September 13 met with AIIB Vice President Joachim Von Amsberg who was in Vietnam for the World Economic Forum on ASEAN (WEF ASEAN) 2018. (Photo: VNA) HCM City (VNA) – Ho Chi Minh City and the Asian Infrastructure Investment Bank (AIIB) hope to enhance their ties to facilitate infrastructure development in Vietnam’s southern economic hub. The news came after Vice Chairman of the municipal People’s Committee Le Thanh Liem on September 13 met with AIIB Vice President Joachim Von Amsberg who was in Vietnam for the World Economic Forum on ASEAN (WEF ASEAN) 2018. Welcoming Amsberg to the WEF ASEAN in Hanoi, Liem said this year’s event aimed to address key issues in ASEAN nations in the era of the fourth Industrial Revolution (Industry 4.0), relevant to HCM City’s aim to become a smart city. The city is facing big challenges like climate change, traffic congestion and pollution that … [Read more...] about HCM City, AIIB look to work together in infrastructure projects
Viet Nam News HÀ NỘI – Two years ago, Asia-Pacific lost US$126 million a day due to natural disasters. In 2016, 0.4 per cent of the Asia-Pacific region’s GDP was lost to natural disasters, with some 11.2 million people displaced. By the year 2030, GDP losses are estimated hit 1 per cent. In percentage of annual capital investment, 2016’s loss amounted to 5 per cent of the figure, a very high number compared to other parts of the world such as Europe and Central Asia. Many ASEAN countries are among the most affected by climate change, especially the Philippines and Việt Nam, said a report by the United Nations International Strategy for Disaster Reduction (UNISDR). Rapid urban development contributed to the issue as ability to build resilience isn’t keeping up with growth, creating more risk. When natural disasters occur, it is often the most vulnerable such as children, women and the indigenous that are most severely affected. This, in … [Read more...] about US$126 million is lost every day to natural disaster in the Asian-Pacific