ASEAN Has Over $2 Trillion Worth of Infrastructure Investment Opportunities
The McKinsey Global Institute forecasts the need for over $2 trillion in investment in road, rail, port, airport, power, water, and telecommunications infrastructure across ASEAN to maintain economic growth. China, Japan, and the United States have pledged funding for major infrastructure projects across all sectors via government aid and public-private partnerships.
US initiatives to support infrastructure investment in ASEAN include the US-ASEAN Connect framework's Energy Connect pillar, which has pledged to invest in a five-year effort in ASEAN to increase the supply of grid-connected renewable energy. This investment includes at least 500 megawatts of grid-tied renewable energy generation in the lower Mekong River countries of Cambodia, Laos, Thailand, and Vietnam. Additionally, the United States International Development Finance Corporation (USIDFC), established as part of the