Global Affairs Canada and Singapore’s Infrastructure Asia Sign MoU on Extending Collaboration for Infrastructure Development in SE Asia
Posted on 10/11/2020
A number of Canadian pension investors such as CDPQ call Singapore home, as a springboard to other parts of Asia. Global Affairs Canada (GAC) and Infrastructure Asia (InfraAsia) signed a new memorandum of understanding (MOU) to extend their collaboration in infrastructure development in Southeast Asia by a further two years.
Infrastructure Asia is a project facilitation office and a department of Enterprise Singapore. Enterprise Singapore is a statutory board under the Ministry of Trade and Industry in Singapore. Global Affairs Canada is the department of the Government of Canada that manages Canada’s diplomatic and consular relations, encourages Canadian international trade, and leads Canada’s international development and humanitarian assistance.
Besides extending the collaboration period, the areas of collaboration between GAC and InfraAsia have also been expanded from the original MOU signed two years ago. The enhanced scope harnesses the expertise of Canadian infrastructure companies to enable more quality infrastructure projects and encourages Canadian funds to invest in the region through Singapore, thus augmenting the financing possibilities of infrastructure development in the region.