ASEAN rolls out plan to invest in $15 billion worth of infrastructure projects

Including viable and sustainable developments that could improve the flow of people, innovations, goods, and services

ASEAN flags. OPgrapher/Shutterstock

Last Sunday in Bangkok, Thailand, the ASEAN Coordinating Council (ACC) revealed the Initial Rolling Priority Pipe of ASEAN Infrastructure Projects. According to The Insider Stories, the officials plan to build 19 developments throughout the transport, digital, and energy sectors, which are estimated to amount to USD15 billion.

The 19 projects chosen in the initial pipeline were categorised into sectors, of which 11 were road projects, three were power, two were port, one airport, one railway, and one information and communication technology.

Three of these infrastructures will be constructed in Thailand and Indonesia, five in Myanmar, four in Laos, two in Vietnam, and one in Brunei Darussalam and Cambodia.

In the hopes of getting more development and financial assistance for the projects, the ACC has encouraged China to actively support the pipeline and promote connectivity in ports and harbours, airports, railways, highways, communication, and power to construct a better business and investment atmosphere.

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According to the ACC, the initial pipeline is built on international best practices, with viable and sustainable developments that can improve the flow of people, innovations, goods, and services in the region.

Don Pramudwinai, Minister of Foreign Affairs of Thailand, hopes to attract “robust investments that will help enhance regional connectivity in concrete terms, support our transport, economic and sustainability corridors region-wide, and prepare ASEAN for better connectivity synergies with the wider region.”

The key initiative was assigned to the World Bank for implementation. With help from Australia, they were able to streamline the proposed projects of all ASEAN members based on how it will contribute to the economic growth of the region and beyond.