Continued innovation the key to Singapore-US infrastructure tie-up

SINGAPORE'S plan to work with the United States on infrastructure projects across South-east Asia will strengthen the economic corridor, but the success of this tie-up will depend upon continued innovation.

The memorandum of understanding signed last week will see the two countries' infrastructure agencies work together to facilitate private sector deals across the region in areas such as energy, water, waste, transportation and urban development.

The commercial opportunity for both sides is potentially significant and wide-ranging. Already, Asean is the US's fourth largest export market; trade with Asean supports more than half a million American jobs; there are nearly 4,700 American companies in the region; and South-east Asia is the No 1 destination for US foreign direct investment in Asia.