ASEAN KEY DESTINATIONS
Singapore must strengthen position as infrastructure hub: Indranee Rajah
SINGAPORE: Singapore must build on its position as an infrastructure hub and increase regional collaborations between the public and private sectors, said Senior Minister of State for Finance and Law Indranee Rajah on Thursday (Mar 10).
Ms Indranee was the guest of honour at the Singapore Urban Roundtable, organised by International Enterprise Singapore and the World Bank, which was attended by senior World Bank officials and over 40 regional industry players.
She highlighted the importance of infrastructure investment on the global agenda, pointing out that international organisations like G20 and APEC had made it a priority issue.
"With the increased financial market volatility, downgraded economic outlook and fears of renewed global slowdown, policy-makers are looking to boost growth through investments into infrastructure, in terms of both quantity and quality," she said.
GOVERNMENT SUPPORT KEY TO INFRASTRUCTURE DEVELOPMENT
The Member of Parliament for Tanjong Pagar GRC highlighted Singapore's "critical mass of global financial institutions that offer infrastructure financing options", as well as the Republic's robust legal and regulatory framework and good governance.
According to Ms Indranee, key elements of sustainable infrastructure development include expertise in urban planning and project management, infrastructure financing and a conducive business environment.
She added that governments need to be proactive in undertaking reforms to facilitate infrastructure and urban development while activating private sector players.
For instance, Singapore's strategy in water management involves the Government working closely with the private sector to develop innovative technologies. Products such as NEWater and Singapore's four desalination plants were developed through cooperation between the public and private sectors, added Ms Indranee.
The World Bank Group recently strengthened its partnership with IE Singapore with the expansion of its Singapore Urban Development Hub. It also set up the Global Infrastructure Facility based in Singapore, in recognition of Singapore's role as a springboard for regional urban partnerships.
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