ASEAN Infrastructure Investment Should Be Led by Private Capital, Says Singapore

ASEAN infrastructure investment should be driven by private capital and commercial discipline, supported by predictable government policies and deeper regional integration, according to Singapore Coordinating Minister for Public Services and Defence Chan Chun Sing.

Speaking at the ASEAN & Asia Forum, Chan said investors choose Singapore for its consistent delivery and global connectivity rather than the size of its domestic market.

Policy certainty is particularly important for long-term investments in sectors such as energy, semiconductors and biopharmaceuticals.

Chan said closer ASEAN cooperation in finance, energy and data could reduce business friction and strengthen regional growth.

Governments should focus on creating stable conditions rather than directing capital towards particular projects.

Private investors should determine which commercially viable initiatives receive funding, including infrastructure connected with the ASEAN Power Grid, ensuring market discipline guides the allocation of long-term capital.