Indonesian Finance Minister Dr. Sri Mulyani Indrawati delivers her keynote speech during the JBIC seminar.
On May 5, 2017, the Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) hosted a seminar entitled "Future Prospects of Quality Infrastructure Projects in Asia through Public Private Partnership" under joint sponsorship with the Asian Development Bank (ADB). The seminar took the opportunity of the ADB's Annual Meeting, held in Japan for the first time in 10 years since 2007, to share common awareness and establish a direction among related parties on the issue of infrastructure in Asia. Keynote speeches and presentations by key stakeholders involved in infrastructure development provided insights on the ideal ways in which the private and public sectors can cooperate and on what roles each should take in addressing the growth in infrastructure demand in Asia.
In a keynote speech that kicked off the seminar, Minister of Finance of Indonesia Dr. Sri Mulyani Indrawati introduced ways to encourage active investment by private sector players, such as assigning development projects between the public and private sectors by taking profitability of the projects into account. The minister also emphasized the importance of giving due consideration to regional connectivity in implementing infrastructure development. She also briefed the audience on Indonesia's recent efforts to promote infrastructure development.
In the presentation that followed, Hitachi, Ltd. President & CEO Toshiaki Higashihara talked about the company's efforts to solve various social problems in the world, using "innovation" as the keyword. He explained Hitachi's comprehensive coverage of the various aspects of infrastructure systems, including operation and management. Mr. Higashihara also pointed out that the host countries' initiative and deep involvement is essential to solve their social problems.
Dr. Shamshad Akhtar, Under-Secretary-General of the United Nations and Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), who took the podium next, spoke about the growing calls for bankable projects and clean infrastructure development that also takes account of protection of the social environment.
ADB Vice President Stephen P. Groff talked about the bank's recent efforts to promote bankable deals as a way to mobilize private sector funds.
Tadashi Maeda, Executive Managing Director of JBIC, speaks during the seminar.
The seminar was rounded out by Tadashi Maeda, Executive Managing Director of JBIC. He briefed the audience on a special operation the bank has launched to enhance its risk-taking function in an effort to raise the quality of its infrastructure-investment support. He also discussed JBIC's joint efforts with the ADB and recent moves related to regional connectivity. Maeda pointed out that there is a need to realize deals that are satisfactory in both quality and quantity by putting together high-quality technology and service from private-sector business, long-term, comprehensive support from host countries, support from international organizations and export credit agencies in efforts to formulate deals, and funding from the private sector.
The seminar was participated in by over 200 individuals, including representatives and government officials from various countries, officials from Japanese and foreign financial institutions, as well as representatives from Japanese trading houses and manufacturers. Participants showed keen interest in infrastructure development projects under public-private partnership.
JBIC plans to continue its efforts to take various opportunities, such as this seminar, to enhance its relationship with international organizations and other external entities to support the participation of Japanese business in overseas infrastructure projects, in line with the Japanese government's policy measures.
A snapshot of seminar attendees