by Cheryl Tay
Singapore's infrastructure investments are projected to achieve a 4.8 percent growth within three years, on the back of lower interest rates, according to ICAEW.
In a report by Singapore Business Review, ICAEW noted that ASEAN countries will be able to fund public infrastructure investments, including education systems and transport links, as lower interest rates prevail. Moreover, most companies will likely invest in skills, technology and machinery, as the financial markets are currently experiencing low returns.
"With the availability of cheap money for ASEAN governments, we expect that public investment in needed infrastructure will increase this year," said Charles Davis, Economic Advisor at ICAEW and Head of Macroeconomics at the Centre for Economics and Business Research.
Meanwhile, CEBR forecasts that the average infrastructure investment growth between 2012 and 2014 in Thailand will be 5.2 percent, as reconstruction is being made after last year's floods. In other ASEAN countries, infrastructure investment will likely rise accordingly, by 8.1 percent in Vietnam, 9.1 percent in Indonesia and 6.8 percent in Malaysia.
Singapore has lowest growth in infrastructure investment in the region, projected at 4.8 percent.
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