Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


APEC targets increased infrastructure investment

APEC targets increased infrastructure investment


Issued by the APEC Senior Officials’ Meeting

Ningbo, China, 28 Feb 2014 - APEC member economies are intensifying joint efforts to address impediments to cross-border investment in the region to meet rising infrastructure demand and ensure the flow of goods and people that drive growth.

Advancing a new APEC Multi-Year Plan on Infrastructure Development and Investment was a focus of Senior Officials meeting in Ningbo on Friday. The initiative is a component of APEC’s priority to improve comprehensive connectivity in the region. Senior Officials established a Friends of the Chair Committee to oversee the development and implementation of the blueprint and supervise the implementation of the multi-year plan.

“We are drafting a blueprint for establishing greater regional connectivity that is far-reaching and ambitious,” said Li Baodong, Chair of the APEC 2014 Senior Officials’ Meeting and Vice Foreign Minister of China. “Our goal is to facilitate the seamless movement of goods and people across the region to raise productivity and central to that is ensuring that there is sufficient infrastructure in place to support it.”

“Robust trade flows hinge on reliable supply chains,” explained Dr Alan Bollard, the APEC Secretariat's Executive Director. “As trade volumes in the Asia-Pacific rise, there is a real need for economies to build the capacity of the region’s infrastructure and an important aspect of this is fostering an environment that encourages greater private sector investment in new projects.”

Asia will require about USD8 trillion in investment between 2010 and 2020 to meet the region’s infrastructure needs, according to the Asian Development Bank. The return on investment is potentially significant for the region’s economies—a ten percent increase in infrastructure provision raises long-term growth by one percent, the World Bank estimates.

“Red tape and uncertainty deter investors critical to the development of roads, ports, container technology and other core infrastructure,” explained Li. “Reducing behind-the-border barriers and overall investment risk is an APEC priority which ultimately contributes to better supply chain efficiency and lowers trade transaction costs.”

The APEC Multi-Year Plan on Infrastructure Development and Investment articulates steps for boosting private sector involvement in the sector by 2016. Points of emphasis include regulatory reform, planning improvements, the identification and generation of a pipeline of bankable projects, and creation of a more investor-friendly financing and funding environment.

Part of the implementation process involves an APEC Public-Private Partnership Center in Indonesia, which is being set up to assess infrastructure projects to receive private finance and guide their execution. Information-sharing will also increase the capacity of economies in the region to deliver such projects.

“Public Private Partnerships can help with infrastructure financing but a common understanding of the needs within the investment and regulatory environment is required for things to move forward,” said Li.

“Collaboration within APEC provides an opportunity for economies to remain aware of each other’s trade and investment regulations and free trade agreements that may often include investment chapters,” concluded Dr Bollard. “This can help to standardize rules and processes and result in the kind of policy regimes that investors want and economies are well served to provide.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

#SaveCampbellLive : Mediaworks Delivered 104,000 Petition Signatures At TV3's Newton HQ
#PonyTailGate #TailGate Full Coverage

Pukeahu Park : ANZAC 100th Anniversary Dawn Service In Pictures

Roughly 18,000 people gathered this morning at Pukeahu Memorial Park for the Anzac day centenary. Anticipating the large turnout, patrons arrived as early as 4.30. It was virtually impossible to get near the Memorial after 5am. By 6, the crowds on Taranaki Street had stretched as far back as the Z Petrol station.

The screens erected around the park displayed the live events to those who had turned up. The heat generated by the huge number of people caused many to take a turn. Medics and ambulances were on hand for the fainting crowd members. Only twenty minutes into the ceremony, one medic said they had already dealt with 15 to 20 spells. More>>

 

PARLIAMENT TODAY:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
More RSS  RSS News AlertsNews Alerts
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news