Race to finance Asia’s infrastructure heats up

Asia will need $1700bn per year in investments in power, transport, telecommunications and water through 2030, according to ADB latest estimation.

Published

4 years ago

May 19, 2017

Headline Editor

“Asia will need $1700bn per year in investments in power, transport, telecommunications and water through 2030.

This is more than double our previous estimate,” Asian Development Bank (ADB) president Takehiko Nakao told the 50th Annual Meeting of ADB’s board of governors last week.

And yet, as Mr Nakao reported, while ADB’s total operations last year achieved record levels, they only reached $31.7bn: a drop in the ocean relative to the region’s financing needs.

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Stepping into this financing gap over the past year or so has been China’s motivation to create the Asian Infrastructure Investment Bank (AIIB).

This new bank’s lending may be only slowly getting off the ground, but it already has more members than the ADB, and its authorised lending limit is also higher than the ADB’s. The new competition from the AIIB has seen the ADB streamline its lending procedures and rush to approve new lending.

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Economics

Thai Exports to grow 4% in 2021

Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.

Published

1 day ago

January 2, 2021

National News Bureau of Thailand

BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return to expansion mode, based on signs of economic recuperation globally and the distribution of a vaccine to protect people against COVID-19.

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Tourism

Thai Government imposes ban on gatherings over New Year 2021 holidays

TAT would like to remind all that New Year 2021 activities have been cancelled or gone virtual nationwide to avoid large gatherings according to the Royal Thai Government’s guidelines.

Published

3 days ago

December 31, 2020

Tourism Authority of Thailand

Bangkok, 31 December, 2020 – The Tourism Authority of Thailand (TAT) would like to provide the latest update regarding the Royal Thai Government’s latest announcement on the ban of gatherings nationwide.

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National

Thai cabinet allows illegal migrant workers to sign up for 2-year work permit

Migrant workers from Cambodia, Laos, and Myanmar, who are in Thailand illegally, will be able to obtain a 2-year work permit under a special arrangement offered to help contain the spread of COVID-19.

Published

4 days ago

December 31, 2020

National News Bureau of Thailand

BANGKOK (NNT) – Cabinet has approved a special arrangement for illegal migrant workers from neighboring countries, allowing them to register for 2-year legal work status in Thailand, following the case of a new COVID-19 outbreak among the migrant workers’ community.

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