Obor will complement Asean's connectivity masterplan: Expert

KUALA LUMPUR: The One Belt One Road (Obor) initiatives, spearheaded by China will benefit Asean vastly and spur the region's economic growth when implemented.
Director for the Asean Studies Centre (Academic Affairs) Chulalongkorn University Dr Piti Srisangnam (pix) said the Obor would also complement Asean's Master Plan on Asean Connectivity (MPAC), rather than competing with it.
"It (Obor) will complement MPAC greatly. With the investments coming in, Obor will accelerate various infrastructure projects undertaken under the MPAC, improving connectivity and Asean growth at large, when investments are channelled into the region," he told Bernama in interview here.
Piti was here to attend the 2nd Network of Asean-China Think Tank Seminar organised by Institute of Strategic and International Studies (ISIS) Malaysia.
The MPAC, launched in 2010, is Asean's flagship infrastructure project aimed at enhancing land connectivity and integration among Asean member countries.
Meanwhile, Obor's goals are also to boost infrastructure connectivity and economic growth, albeit, a much larger scale.
Launched in Beijing in 2013, the initiative will start at Fujian, China and transcend 65 countries over three continents, through the overland route known as the Silk Road Economic Belt, while the sea route is billed the Maritime Silk Road.
"As we are trying very hard to realise the Asean Economic Community, all these (Obor and MPAC) will create the inclusive growth for the region," Piti added.
Alongside Obor, China had in October 2014 launched the Asian Infrastructure Investment Bank (AIIB) with the goal to undertake and fund infrastructure development projects in its 57 founding member countries, including those from Asean.
Meanwhile, ISIS senior fellow Yong Hee Kong said while AIIB is a government-led institution, investors in the private sector should be pulled into the initiative through the public-private partnership (PPP) to ensure sustainability of the implementation.
"The US$100 billion (start up fund for AIIB) is not a lot of money. On the other hand, the private sector has a lot of money, which they want to invest.
"To attract private investors, governments also need to create an enabling environment, for instance, mitigating all the risks present. Investors also need to be informed of the benefits when they come onboard," he added, on the sidelines of the seminar.
As such, Yong suggested that AIIB set up a regional PPP Centre to plan, coordinate and promote the initiative.
The AIIB is expected to be operational by year-end. – Bernama