The Asian Development Bank estimates that Southeast Asia’s economies will need US$210 billion a year in infrastructure investment from 2016 to 2030. FMTnews
Japan is still ahead of China in the infrastructure projects in Southeast Asia.
Japanese-backed projects in the region’s six biggest economies – Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam – are valued at US$367 billion, the figures show. China’s tally is US$255 billion.The figures underline both the rampant need for infrastructure development in Southeast Asia, as well as Japan’s dominance over China, despite President Xi Jinping’s push to spend on railways and ports via his signature Belt and Road Initiative.
Vietnam is by far the biggest focus for Japan’s infrastructure involvement, with pending projects worth US$209 billion – more than half of Japan’s total. That includes a US$58.7 billion high-speed railway between Hanoi and Ho Chi Minh City in Vietnam.
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