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The Future of Asia 2012

Use Easy Money To Develop Asia's Infrastructure: Yingluck

Friday, May 24, 2013

TOKYO (Nikkei)--Massive capital inflows caused by quantitative easing measures in much of the developing world should be used by emerging Asia to develop infrastructure, Thailand's Prime Minister Yingluck Shinawatra said Friday in Tokyo.

At the 19th International Conference on The Future of Asia, Yingluck said capital inflows should be used to create transport networks on the land and at sea that connect the Association of Southeast Asian Nations to South Asia, the Middle East, North Asia and Central Asia.

"The quantitative easing measures of the U.S., U.K., EU and Japan have led to strong capital inflows into the region," Yingluck said. "Asia needs to work together to manage the inflows productively to ensure stability in the region," the premier said, adding later that the "excess funds can be used for investments to benefit the whole region."

The prime minister said that by investing in transport networks, development across the continent could be boosted. She said Thailand will invest 66 billion dollars in infrastructure development.

"A modern Silk Road to connect the region with high-speed trains, and feeder tracks for cargo and passengers will become the new Asia-Euro land bridge linking the two continents, while opening up new growth areas along the way," Yingluck said.

Dawei in Myanmar will become a major point of transportation and connectivity, the prime minister said.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.