The formation of the ASEAN Economic Community (AEC) by the end of thisyear will herald many cross-border opportunities for infrastructureinvestment between the bloc’s member states.

This was the shared opinion at a seminar held on July 2 in Singapore bythe Building and Construction Authority (BCA), which brought togetherdozens of construction and infrastructure corporations and enterprisesfrom Southeast Asia and other parts of the world.

Most of the businesses held that the AEC would create a competitivemarket with 600 million people in multiple sectors including commerce,retail and tourism as well as the region with the highest demand forinfrastructure development in the globe.

Demandfor capital and building materials in line with the latest technologyhas turned the ASEAN into a hot spot for infrastructure investment.

Attendees also spoke highly of the Vietnamese government’s drive toset up a legal framework for public-private partnerships (PPP) whichopens doors for overseas investors in the field.

Khalid Saleem, General Manager of Transport Business in the AsiaPacific at Australia-based SMEC, said Vietnam has taken a big step inadopting PPP regulations towards improving business transparency.

Vietnam has huge potential to attract infrastructure investment, he affirmed.

Lena Ng, Board Advisor for Thailand’s Amata Public Company,underscored Vietnam’s commitment to build a conducive business climatefor foreign investors, noting that the firm is scheduled to expand itsbusiness in Vietnam alongside its existing projects in Bien Hoa(southern Dong Nai province) and Tuan Chau (northern Quang Ninhprovince).-VNA