Singapore ready to help Asian development

SINGAPORE – Singapore is able to support the development of the region by financing infrastructure and businesses in Asia, including by providing private capital, according to Finance Minister Heng Swee Keat

. He added that access to financial services was "a key priority of our presidency of Asean".

But Mr. Heng told DBS's Asian Insights conference that "good risk management" is also needed in light of the global financial crises of the past two decades.

"As we develop and develop our financial sector to meet the needs of the real economy, we need to manage risks properly." At the macro level, to maintain resilience, we also need to prepare ourselves major disruptions in global financial markets, "he said.

million. Heng cited the lack of adequate risk management in emerging economies in Asia, the United States, and Europe. as factors at the origin of recent financial crises – "the consequences when financial flows are decoupled from underlying economic needs".

National, regional and global safety nets must continue to be strengthened, he said. +3 financial cooperation initiatives and multilateral support from the International Monetary Fund.

"The vitality of the financial sector and the development of the real economy are closely linked," Heng said, calling for "effective intermediation of capital to channel savings towards

added that Singapore's financial sector is now "able to support the development of the region," Well done, developments in infrastructure can help boost productivity and economic competitiveness, increase the long-term potential of region and create a better living environment for our people, "Heng said. said during the event.

"Traditionally, much of the responsibility for investment in infrastructure has fallen on the government. But given the magnitude of these needs, it is not it is not possible for a single government to fully finance this operation – not even a single bank.We must mobilize private capital from all sources to accelerate the development of infrastructure in the region. "

To this end, Singapore has put in place Infrastructure Asia and will hold the Asia-Singapore Infrastructure Roundtable in October. 19659002] Private financing will also enter the business sphere as digital technology creates new business models and new products,

"(The Monetary Authority of Singapore) revised regulations to facilitate activities of venture capitalists, give financial firms greater leeway to support small and medium-sized enterprises, and we are working with industry players to establish private market financing platforms to enable growing businesses to grow their businesses. 39; have better access to a broader network of investors. "

" Effectiveness in Channeling Financial Flows ", but also to facilitate and deepen financial inclusion, especially with a growing middle class in Asia.

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