Infrastructure Asia (IA), an infrastructure project facilitation office led by two Singapore government agencies – Enterprise Singapore and Monetary Authority of Singapore – has been actively working with government officials in Asia to provide regional infrastructure support such as sharing of international best practices.
IA aims to contribute to Asia’s infrastructure development efforts by harnessing the expertise of global players across the infrastructure value chain. We connect different parties and serve as a one-stop platform for the information exchange and sharing of best infrastructure practices in Asia. Through such efforts, IA also aims to help regional governments better develop, finance and execute their infrastructure projects by leveraging on the expertise offered by its pool of partners comprising international companies and financial institutions.
IA has been in discussions with the Government of Myanmar to understand their infrastructure needs. It is now working with the New Yangon Development Company Limited (NYDC) to share institutional, technical knowledge and international best practices in project evaluation. Established in 2018, NYDC is an entity owned by the Yangon Regional Government and is tasked with the development of the New Yangon City, a 90-sqkm development to the west of central Yangon. IA and its infrastructure ecosystem partners also worked with NYDC to scope the evaluation for the development of power supply and distribution, natural gas supply and distribution, and cyber connectivity infrastructure under Stage Two of the New Yangon City Phase 1 infrastructure projects.
Since February 2019, the NYDC has sought expression of interest from companies to participate in the second stage of the Phase 1 infrastructure projects1 which saw submissions from over 40 companies. Given the importance of selecting companies with the right resources and expertise to undertake feasibility studies and prepare Pre-Project Documents (PPD), IA and NYDC jointly interviewed these companies to address technical considerations and the corresponding evaluation criteria. Following this, the NYDC is expected to put up the projects for bids via the NYDC Challenge 2.
Mr Seth Tan, Executive Director of IA, said, “Infrastructure Asia was established to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering. We are pleased to work with NYDC through working with our global partners in the infrastructure ecosystem. Beyond Yangon, we also plan to reach out to other key regions such as Mandalay and look forward to more collaboration opportunities.”
2 NYDC has adopted the global model of the Swiss Challenge, which is a model that allows fair competition, efficiency and ensures ultimate transparency.
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About Infrastructure Asia
Infrastructure Asia (IA) aims to support Asia’s social and economic growth through infrastructure development. IA was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore’s best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities).
It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.