New schemes to help Singapore capitalise on Asia's demand for infrastructure

Trade agency IE Singapore has rolled out two new initiatives to help Singapore capitalise on the need for infrastructure development in Asia. -- ST FILE PHOTO: ALPHONSUS CHERN
Trade agency IE Singapore has rolled out two new initiatives to help Singapore capitalise on the need for infrastructure development in Asia. -- ST FILE PHOTO: ALPHONSUS CHERN

Trade agency IE Singapore has rolled out two new initiatives to help Singapore capitalise on the need for infrastructure development in Asia.

The first is an internship programme offered in collaboration with the National University of Singapore.

It will give tertiary students the chance to work for project developers, consultancies, project finance banks and others in the infrastructure development sector.

The second is a $17 million collaboration between IE Singapore and the Asian Development Bank that aims to work with governments in the region to structure public-private infrastructure development partnerships.

Named the Asia Infrastructure Centre of Excellence, it will fund projects ranging from power generation to transport infrastructure and water management.

The trade agency announced these programmes at the Asia-Singapore Infrastructure Roundtable, held on Monday at Pan Pacific Hotel.

Emerging Asia is growing at a healthy pace, with a growth forecast of 6.5 per cent in 2014, said Mr Lee Yi Shyan, Senior Minister of State for the Ministry of National Development and Ministry of Trade and Industry.

However, "this is not commensurate with the number and value of infrastructure projects in the region, which have largedly flat-lined since 2008", added Mr Lee, who was speaking at Monday's event.

There is hence potential for Singapore to play an active role in the region's push for better infrastructure, he said.

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