Asian Infrastructure Forum workshop 5- Advancing Together: ASEAN Infrastructure Development (June 26, 1500-1630), Experimental Theatre, NCPA

Objectives

  • Introduce the strategic objectives and priorities of the infrastructure development in the sub-region from ASEAN’s perspective.
  • Showcase the ASEAN’s connectivity pipeline of investible infrastructure projects, to rise the understanding of the investment opportunities and challenges in ASEAN infrastructure, focusing on the projects in the areas of:
        ° Cross-country connectivity (physical infrastructure);
        ° ICT infrastructure and connectivity; and
        ° Sustainable urbanization.
  • Discuss how AIIB could contribute to ASEAN infrastructure pipeline through:
        ° bridge the financing gap by loans, equity or other financial instruments;
        ° cooperate closely with other MDBs;
        ° mobilize private financing; and
        ° enhance the project preparation and implementation


Background

The Association of Southeast Asian Nations (ASEAN), established in 1967, consists of 10 member states: Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Cambodia, Lao PDR, Myanmar, and Vietnam. The ASEAN region is developing at a rapid rate. Its combined GDP grew by 5.2% in 2017 and is expected to sustain the growth through to 2020. ASEAN is currently the seventh-largest economy in the world and is projected to become the fourth-largest by 2050. To maintain this growing pace, there is a huge demand for ASEAN infrastructure development and upgrading. ASEAN Investment Report 2015 projected that more than US$110 billion needs to be invested in infrastructure annually in ASEAN in order to meet the needs of the ASEAN Member States. The McKinsey Global Institute forecasted the need for over $2 trillion in investment in road, rail, port, airport, power, water, and telecommunications infrastructure across ASEAN to maintain economic growth. While the demand is huge, the infrastructure spending as a percentage of GDP in ASEAN countries is relatively low when compared to other developing countries such as China and India, as shown by PWC’s study in 2017.

As a new multilateral development bank established in the 21st Century, AIIB is mandated to improve social and economic outcomes in Asia and beyond by investing in sustainable infrastructure and other productive sectors. All ten ASEAN member states are AIIB’s founding members. Since starting the operation in January 2016, AIIB has committed around US$670 million of loans in ASEAN countries and will continue to expand its operation in ASEAN by establishing a substantial pipeline for the sub region for 2018-2019. Sustainable infrastructure, cross-country connectivity and private capital mobilization are the three thematic priorities guiding AIIB’s investment operations, which are fully in line with the strategic objectives of ASEAN infrastructure development as set out in the ASEAN Economic Community 2025 Blueprint and Master Plan of ASEAN Connectivity 2025.

This session will discuss (i) ASEAN infrastructure demand and prioritized pipelines; and (ii) how AIIB could support ASEAN infrastructure development by establishing a close co-operation partnership.


Possible Discussion Topics

  • Understand the ASEAN Prioritized Pipeline of infrastructure projects;
  • Understand how AIIB could support the ASEAN Pipeline;
  • Explore the way of co-operation among AIIB and ASEAN countries in the infrastructure investment.

Speakers

Ms. Anita Prakash-Director General, Policy Department, Economic Research Institute for ASEAN and East Asia (ERIA), Jakarta

Anita Prakash is Director General (Policy Design Department) at the Economic Research Institute for ASEAN and East Asia (ERIA) in Jakarta, Indonesia. Her key role at ERIA is policy writing and engagement support to Leaders and senior officials in the governments of Southeast Asia, East Asia and Oceania, and Europe, on political economy, growth, narrowing development gaps, regional economic integration, connectivity, and economic and technical cooperation among countries.

She works closely with ASEAN Member states, the East Asia Summit (EAS) countries in the Asia Pacific Region, and also their counterparts in Europe, in their bilateral and multilateral relations.

She worked in the Government of India, with major experience in the Ministry of Human Resource Development, Ministry of Commerce and in NITI Aayog (Planning Commission). Her policy writings cover economic development and cooperation issues in South East and East Asia, and across Asia and Europe, and the new trends in multilateral governance systems for trade and development with a focus on SDGs and inclusive growth. She has worked extensively on the trade agreements in Asia Pacific and EU, economic and technical cooperation for the least developed countries in ASEAN, and the economic and political architecture in East Asia. Her current efforts are in renewing Asia’s economic connectivity with Europe and Africa, and strengthening new initiatives from emerging economies for multilateral governance. She edited the ‘Asia Europe Connectivity Vision Document 2030’ for the ASEM Summit in Mongolia in June, 2016. She developed the vision document for ‘Asia Africa Growth Corridor’, which was presented to the Africa Development Bank Annual Meeting in India, in May 2017.

In International Affairs, her focus is on developing new value chains for multilateral governance which are inclusive and sustainable, through the new multilateral institutions and also reorganization of existing ones. She is also working on mobilizing the G 20 support for new initiatives on inclusive and sustainable growth in Asia-Pacific, Europe and Africa.

She is presently a Visiting Fellow in the Programme for Study of International Governance at the Graduate Institute of International and Development Studies, Geneva.

Prof. Bambang P. S. Brodjonegoro-Minister of National Development Planning and AIIB Alternate Governor, Indonesia

Bambang P. S. Brodjonegoro is currently the Minister of National Development Planning/Head of National Development Planning Agency (Bappenas), appointed by President Joko Widodo on 27 July 2016. He was previously the Minister of Finance (from 27 October 2014 to 27 July 2016) in President Widodo’s Working Cabinet. During President Susilo Bambang Yudhoyono’s administration, Bambang served as the Deputy Minister of Finance (from 3 October 2013 to 20 October 2014).

Bambang is one of Indonesia’s leading economists, with a Bachelor’s Degree in Economic Development and Regional Economy from the University of Indonesia (1990), and a Master’s Degree (1995) and Ph.D. (1997) in Urban and Regional Planning from the University of Illinois at Urban a Champign, USA. His areas of expertise include regional economics, fiscal decentralisation, public finance, development economics, urban economics, and transportation.

Prior to his ministerial positions, Bambang’s career included commissioner roles with PT Pertamina (a national oil & gas company of Indonesia); PT Aneka Tambang (a state-owned mining company); PT Adira Insurance; and PT PLN (the national electricity company of Indonesia). He is active on a number of international boards including the ASEAN Infrastructure Fund and the ASEAN+3 Finance and Central Bank Deputies Meeting.

He is a committed and active academic, currently a Professor of Economics at the University of Indonesia. Prior experience has included positions as guest lecturer in The Department of Urban and Regional Planning with the University of Illinois; Director General of the Islamic Research and Training Institute at the Islamic Development Bank; and Dean of the Faculty of Economics with the University of Indonesia.

Mr. Carlos G Dominguez-Department of Finance Secretary and AIIB Governor, Philippines








Mr. Heng Swee Keat-Minister of Finance and AIIB Governor, Singapore

Mr Heng Swee Keat is the Minister for Finance and Member of Parliament for Tampines GRC. The Ministry of Finance manages the national budget, oversees corporate governance regulations, and supervises the prudent investment and utilisation of public funds and government reserves. Mr Heng co-chaired the Committee on the Future Economy (CFE), which charted the strategies for Singapore's next phase of growth. He chairs the tripartite Future Economy Council, which oversees the implementation of national strategies in areas such as skills and capabilities development, innovation and productivity, and industry transformation. He is also the Chairman of the National Research Foundation, which sets the direction for Singapore's research, innovation and enterprise strategies. Before this, Mr Heng served as Minister for Education from 2011 to 2015. He drove programmes for a student-centric, values-driven education system, emphasising the holistic development of students and multiple educational pathways. While at MOE, Mr Heng also led Our Singapore Conversation, a national consultation exercise that reached out to close to 50,000 Singaporeans on their aspirations for Singapore's future. In 2015, he chaired the Singapore 50 (SG50) Steering Committee leading the celebrations for Singapore's Golden Jubilee. Prior to entering politics in May 2011, Mr Heng was the Managing Director of the Monetary Authority of Singapore (MAS), where he received the "Central Bank Governor of the Year in Asia-Pacific" Award by the British magazine The Banker. He has served in various other public service positions, including appointments in the Singapore Police Force, as the Permanent Secretary of the Ministry of Trade and Industry, as the Chief Executive Officer of the Trade Development Board, and as the Principal Private Secretary to then-Senior Minister Lee Kuan Yew from 1997 to 2000. In 2001, Mr Heng was awarded the Gold Medal in Public Administration, and the Meritorious Medal in 2010 for his contribution to the public service in Singapore. Mr Heng has an MA in Economics from Cambridge University. He also holds a Masters in Public Administration from the Kennedy School of Government, Harvard University.

Ms. Preeti Saran-Secretary(East), Ministry of External Affairs, India








Kevan Watts-Vice Chairman, Global Banking, HSBC

Kevan Watts is Vice Chairman, Global Banking, HSBC. He is based in London but travels regularly to Asia maintaining and developing HSBC’s corporate and banking relationships at a senior level drawing on over 15 years of experience of business throughout Asia.

Kevan is also a member of the International Advisory Council of Huawei Technologies, a large Chinese telecom equipment company headquartered in Shenzhen, a non-executive director of Tottenham Hotspur plc, the English Premier League football club, a member of the Advisory Panel for the UK ASEAN Business Council and a member of the Advisory Board of Corsair Capital, a long standing private equity firm exclusively investing in financial services.

From 1981 to 2010, Kevan worked at Merrill Lynch in New York, London, Hong Kong and Mumbai. He held a number of senior positions including Co-head of Global Investment Banking, Chairman of Asia Pacific, Chairman of Europe, Middle East and Africa and Chairman of International. In these roles he has advised many companies and banks in the UK, Europe, the US and Asia on a wide range of financing and M&A transactions as well as managing significant parts of Merrill Lynch's international businesses.

Prior to joining Merrill Lynch, Kevan spent seven years at H M Treasury which included two years as Private Secretary to the Permanent Secretary.

He gained a first class degree in Politics, Philosophy and Economics and a postgraduate degree in Philosophy, both at University College, Oxford.