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

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement.

As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

 

Ombudsman: Canterbury Schools Reorganisation Mishandled

An investigation into the Canterbury schools reorganisation after the February 2011 earthquakes has found significant gaps and flaws in the Ministry’s engagement and communications with schools and communities. More>>

ALSO:

Law Commission: Contempt Report "Protects Right To Fair Trial"

The proposed Act limits what news media representatives and bloggers can report on court proceedings, but it also makes clearer than the current law where the line is between contempt and freedom of expression. More>>

ALSO:

Gordon Campbell: On Our Refugee Intake (And Uber’s Woes)

On figures released this week, there are currently 65.6 million people worldwide who have been displaced from their homes by war, famine or other external causes… More>>

ALSO:

IGIS Report: GCSB Support For Groser WTO Bid Not Illegal

“The inquiry has found that the GCSB did not act unlawfully or improperly in providing assistance to the New Zealand government campaign”, Ms Gwyn said. More>>

ALSO:

PM's Press Conference: Pike And Houses

There were questions on Pike River mine re-entry after new video from inside the drift was released over the weekend. English maintained a human effort would not be feasible irrespective of any future coalition demands from NZ First. He said the government would continue to work with families on non-manned re-entry. More>>

ALSO:

Flogging A Dead Horse: NZ First Seeks New s59 Referendum

10 years on from the so called “anti-smacking” law - NZ First calls for a binding referendum. NZ First MP Tracey Martin told TVNZ’s Q+A programme that the law change has had a “chilling effect” on NZ parents including herself. More>>

ALSO:

Always Interesting: Internet Party Has New Leader

The Internet Party has a new leader: Suzie Dawson... She currently resides in Moscow, Russia, where she has applied for temporary asylum due to severe persecution she reports being subjected to by those whose corruption she worked to expose.More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog
More RSS News Alerts