|Session 1: Building Capacity and Connectivity for the New Economy
The thematic study for AMRO’s ASEAN+3 Regional Economic Outlook (AREO) 2019, on regional capacity and connectivity, builds on the previous two years’ themes on drivers of growth and resilience and growth in ASEAN+3 twenty years after the Asian financial crisis (AFC).
The ADB has estimated that over the period 2015-2030, climate-adjusted infrastructure investment needs amount to 5.7 percent of GDP per annum for Southeast Asia and 5.2 percent per annum for East Asia; and within these estimates, lower-income countries’ needs would be a few times as large as those of high-income countries. The massive scale of investment
projects envisaged poses financial- and non-financial challenges. To maintain external stability, [developing Asia] post-AFC may have saved and run
much higher current account balances than is optimal from the investment or growth perspective. Labor and expertise gaps in executing infrastructure projects add to the funding and hard currency constraints. Amid an increasingly hostile East-West trade and investment environment,
building capacity and connectivity will promote regional integration and enhance resilience and growth in the ASEAN+3. Multilateral development banks, the Belt and Road Initiative (BRI) and other intra-regional investment projects play an important role in addressing infrastructure gaps and meeting the development aspirations of both investors and host nations.
Chair: Khor Hoe Ee, Chief Economist, AMRO
Speaker: Lam San Ling, AMRO
· Cyn-Young Park, Director, Regional Cooperation and Integration, Asian Development Bank (ADB)
· Bandid Nijathaworn, Former Deputy Governor, Bank of Thailand (BOT); and current AMRO Advisory Panel Member