ASEAN meeting seeks to boost cooperation

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Cambodian Prime Minister Huns Sen urged ASEAN countries to release more funds for infrastructure

The 44th ASEAN Economic Ministers meeting that kicked off this Monday in Siem Reap, Cambodia, is focusing on closer cooperation and multilateral funding within the 10 ASEAN nations ahead of the planned economic integration of the bloc starting from 2015.

Among the first dialogues that took place was a ministers’ meeting with the ASEAN Business Advisory Council (ABAC), where possibilities to boost public-private partnerships were discussed.

Cambodia’s influential tycoon Kith Meng, president of the Royal Group of Companies, who chairs the ABAC in 2012, said that the consultations were very useful for the private sector to raise opinions and recommendations to the heads of the bloc’s government in order to positively contribute to achieve an ASEAN Economic Community.

Talks will be continued at the upcoming 2012 ASEAN Business and Investment Summit slated for November 16-18 in Phnom Penh.

Meanwhile, Cambodian Prime Minister Hun Sen, the chair of ASEAN in 2012, on Monday urged ASEAN Economic Ministers to take necessary measures to attract more financial support from dialogue partners for the ASEAN Infrastructure Fund.

The ASEAN Infrastructure Fund has a current size of about $500 million and was launched in May this year with the support of the Asian Development Bank. The fund is meant to finance about six projects a year with a $75 million lending cap per project.

“The fund is still very small. It cannot sufficiently respond to the great need of the ASEAN connectivity,” Hun Sen remarked in his opening address.

He urged the ASEAN economic and finance ministers to take “necessary measures to attract more financing partners to increase the fund size”, especially the ASEAN countries plus its partners, as well as multilateral institutions.

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Reading Time: 2 minutes

Cambodian Prime Minister Huns Sen urged ASEAN countries to release more funds for infrastructure

The 44th ASEAN Economic Ministers meeting that kicked off this Monday in Siem Reap, Cambodia, is focusing on closer cooperation and multilateral funding within the 10 ASEAN nations ahead of the planned economic integration of the bloc starting from 2015.

Reading Time: 2 minutes

Cambodian Prime Minister Huns Sen urged ASEAN countries to release more funds for infrastructure

The 44th ASEAN Economic Ministers meeting that kicked off this Monday in Siem Reap, Cambodia, is focusing on closer cooperation and multilateral funding within the 10 ASEAN nations ahead of the planned economic integration of the bloc starting from 2015.

Among the first dialogues that took place was a ministers’ meeting with the ASEAN Business Advisory Council (ABAC), where possibilities to boost public-private partnerships were discussed.

Cambodia’s influential tycoon Kith Meng, president of the Royal Group of Companies, who chairs the ABAC in 2012, said that the consultations were very useful for the private sector to raise opinions and recommendations to the heads of the bloc’s government in order to positively contribute to achieve an ASEAN Economic Community.

Talks will be continued at the upcoming 2012 ASEAN Business and Investment Summit slated for November 16-18 in Phnom Penh.

Meanwhile, Cambodian Prime Minister Hun Sen, the chair of ASEAN in 2012, on Monday urged ASEAN Economic Ministers to take necessary measures to attract more financial support from dialogue partners for the ASEAN Infrastructure Fund.

The ASEAN Infrastructure Fund has a current size of about $500 million and was launched in May this year with the support of the Asian Development Bank. The fund is meant to finance about six projects a year with a $75 million lending cap per project.

“The fund is still very small. It cannot sufficiently respond to the great need of the ASEAN connectivity,” Hun Sen remarked in his opening address.

He urged the ASEAN economic and finance ministers to take “necessary measures to attract more financing partners to increase the fund size”, especially the ASEAN countries plus its partners, as well as multilateral institutions.

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