Financing ASEAN connectivity
Date of this Version
In line with the globalisation trend, it becomes inevitable for the South East Asian economies to prepare themselves to move towards the path of a more border-less and well-connected world. Evidence has shown that countries can gain a lot from internationalisation, especially from trade, knowledge and information exchanges, and flows of people and goods. One of the key targets of ASEAN in achieving a dynamic, vibrant, globally connected and strong region is to fully realise ASEAN Connectivity which consists of three pillars, namely, physical connectivity, people-to-people connectivity, and institutional connectivity. Physical connectivity is especially important because it is not only a means to connect places in South East Asia but is also vital to support people-to-people and institutional connectivity. This is documented and highlighted in several leading studies and reports, in particular, the Master Plan on ASEAN Connectivity (MPAC) and the Comprehensive Asia Development Plan (CADP).