Keppel Integrated Engineering Sponsors Inaugural World Bank-Singapore Infrastructure Finance Summit
There is growing realisation among global leaders of the need to ensure that finances continue to flow into areas of development, especially in the infrastructure sector.
Against such a backdrop, the inaugural World Bank-Singapore Infrastructure Finance Summit was launched on 11 November 2009. The two-day event brought together policy-makers, thought leaders, experts from the public and private sectors, as well as multilateral institutions in an exchange of views on infrastructure financing and challenges.
Keppel Integrated Engineering (KIE), the environmental engineering arm of Keppel Corporation, was one of the Founding Sponsors of the Summit. Through its participation, KIE sought to highlight the importance of infrastructure projects to industry leaders and the potential of strategic partnerships between public and private sectors.
Mr Tharman Shanmugaratnam, Singapore Minister for Finance, and Mr Robert Zoellick, President of World Bank, were some of the eminent figures who spoke at the Summit.
During the Summit, Mr Chua Chee Wui, CEO of KIE, was invited to share his views at a panel discussion on ’Asia’s Infrastructure Challenge’. Excerpts of his speech are reproduced here:
ON OPPORTUNITIES IN ASIA
The growth of Asia, not to be crippled by the financial crisis, will create rising opportunities for infrastructure developers and investors.
With rapid urbanisation as a driver of economic growth in many Asian countries over the next two decades, and increasing attention given to sustainable development, the need for infrastructure investment is truly immense.
ON PRIVATISING THE WATER SECTOR
Basic infrastructure projects such as water are often seen as public “rights” for which the value of the infrastructure service is frequently priced below actual delivery costs.
With proper consultations in infrastructure reforms and subsidies given to private developers to keep the pricing down, governments can successfully implement the Private-Public Partnership schemes to finance projects in the water sector.
ON PRIVATE-PUBLIC PARTNERSHIPS
Key to a successful partnership between the public and private sector is a healthy, open relationship.
Governments also need to show that they have the political will and ability to assure private infrastructure investors that their investments will be safeguarded.
Against such a backdrop, the inaugural World Bank-Singapore Infrastructure Finance Summit was launched on 11 November 2009. The two-day event brought together policy-makers, thought leaders, experts from the public and private sectors, as well as multilateral institutions in an exchange of views on infrastructure financing and challenges.
Keppel Integrated Engineering (KIE), the environmental engineering arm of Keppel Corporation, was one of the Founding Sponsors of the Summit. Through its participation, KIE sought to highlight the importance of infrastructure projects to industry leaders and the potential of strategic partnerships between public and private sectors.
Mr Tharman Shanmugaratnam, Singapore Minister for Finance, and Mr Robert Zoellick, President of World Bank, were some of the eminent figures who spoke at the Summit.
During the Summit, Mr Chua Chee Wui, CEO of KIE, was invited to share his views at a panel discussion on ’Asia’s Infrastructure Challenge’. Excerpts of his speech are reproduced here:
ON OPPORTUNITIES IN ASIA
The growth of Asia, not to be crippled by the financial crisis, will create rising opportunities for infrastructure developers and investors.
With rapid urbanisation as a driver of economic growth in many Asian countries over the next two decades, and increasing attention given to sustainable development, the need for infrastructure investment is truly immense.
ON PRIVATISING THE WATER SECTOR
Basic infrastructure projects such as water are often seen as public “rights” for which the value of the infrastructure service is frequently priced below actual delivery costs.
With proper consultations in infrastructure reforms and subsidies given to private developers to keep the pricing down, governments can successfully implement the Private-Public Partnership schemes to finance projects in the water sector.
ON PRIVATE-PUBLIC PARTNERSHIPS
Key to a successful partnership between the public and private sector is a healthy, open relationship.
Governments also need to show that they have the political will and ability to assure private infrastructure investors that their investments will be safeguarded.