Latest news with #SatvinderSingh
South China Morning Post
28-05-2025
- Business
- South China Morning Post
South China Sea tensions ‘won't stop' Asean's blue economy growth, official says
Southeast Asia's plans to grow its blue economy – especially its fisheries sector – will not be hindered by tensions in the South China Sea , according to a senior Asean official, despite warnings from observers that ongoing maritime disputes with China could threaten the region's economic and environmental progress. Satvinder Singh, deputy secretary general of the Asean Economic Community, said disputes involving claimant states such as the Philippines and Vietnam would not hamper the bloc's efforts to grow the industry as part of a broader push to become the world's fourth-largest economy before 2045. 'Fisheries are one of the key sectors in the blue economy for the region,' Singh said at a Friday media briefing on the Asean Community Vision 2045 and the bloc's coming economic strategic plan. 'Those specific incidents that happen in the South China Sea are not going to stop the industry from progressing.' The blue economy – which encompasses maritime industries such as fisheries, tourism, offshore energy and marine transport – is a key component of the Association of Southeast Asian Nations ' push for sustainable development. According to Singh, it sits alongside other major regional initiatives, including the Asean Strategy for Carbon Neutrality and frameworks focused on circular economies, agriculture, energy and transport. Fishermen pull a net onto a beach in Banda Aceh, Indonesia. The blue economy is a key component of Asean's push for sustainable development. Photo: AFP Singh confirmed that the implementation plan for the Asean Blue Economy Framework, adopted in 2023, would be completed this year. The framework outlines regional cooperation on a sector projected by the United Nations Development Programme to generate US$3 trillion in economic value and 43 million jobs by the end of the decade.
The Sun
26-05-2025
- Business
- The Sun
Myanmar stays committed to ASEAN despite domestic challenges
KUALA LUMPUR: Despite grappling with ongoing domestic challenges, Myanmar continues to play an active and constructive role within the ASEAN framework, particularly in driving the region's economic agenda forward, ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said. Speaking at a recent engagement, he emphasised Myanmar's unwavering commitment to ASEAN's initiatives, noting that the country remains an essential and cooperative member of the bloc. 'In the last couple of years, when they are undergoing so much turmoil domestically, it hasn't stopped them from contributing what they need to contribute in every single initiative of ASEAN. 'Even meetings, where they need to host, they have hosted when there are key agreements where they need to vote, they did - knowing that in ASEAN, if one country doesn't vote, the agreement doesn't pass through,' he said at a pre-event briefing on the AEC Strategic Plan 2026-2030 recently. Hence, Myanmar's contributions to ASEAN have not wavered, he said. Satvinder also praised the camaraderie and solidarity among ASEAN's economic leaders, including those from Myanmar, calling it a vital force behind the grouping's recent progress. 'When I sit next to the ASEAN Secretary-General, Dr Kao Kim Hourn, and watch how these leaders discuss and align on economic matters, the unity they show is remarkable. That solidarity is exactly what's powering the progress of the ASEAN Economic Community (AEC),' he said. He also noted that Myanmar's proactive stance on regional trade and development efforts deserves recognition, especially at a time when internal difficulties could have easily led to disengagement. 'Credit must be given where it's due. Myanmar hasn't just participated; they have contributed meaningfully,' he added. To recap, the 2021 military coup in Myanmar that deposed democratically elected National League for Democracy (NLD) leader Suu Kyi further worsened its situation, prompting the bloc to bar its junta leaders from its summits and ministerial meetings. Nevertheless, Myanmar's senior officials have continued to attend preparatory meetings for ASEAN summits, including the 46th ASEAN Summit. ASEAN Foreign Ministers have agreed that efforts to continue engaging with all stakeholders in Myanmar must persist to find a long-term solution to the protracted crisis in the country. Malaysian Foreign Minister Mohamad Hasan said that Malaysia, as ASEAN Chair, planned to visit Myanmar to formally present a 'wishlist' gathered from various stakeholders to the State Administration Council (SAC). ASEAN will also conduct internal consultation on the proposal for a permanent ASEAN Special Envoy to Myanmar, he said.
The Sun
26-05-2025
- Business
- The Sun
Despite domestic challenges, Myanmar remains a committed member of ASEAN
KUALA LUMPUR: Despite grappling with ongoing domestic challenges, Myanmar continues to play an active and constructive role within the ASEAN framework, particularly in driving the region's economic agenda forward, ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said. Speaking at a recent engagement, he emphasised Myanmar's unwavering commitment to ASEAN's initiatives, noting that the country remains an essential and cooperative member of the bloc. 'In the last couple of years, when they are undergoing so much turmoil domestically, it hasn't stopped them from contributing what they need to contribute in every single initiative of ASEAN. 'Even meetings, where they need to host, they have hosted when there are key agreements where they need to vote, they did - knowing that in ASEAN, if one country doesn't vote, the agreement doesn't pass through,' he said at a pre-event briefing on the AEC Strategic Plan 2026-2030 recently. Hence, Myanmar's contributions to ASEAN have not wavered, he said. Satvinder also praised the camaraderie and solidarity among ASEAN's economic leaders, including those from Myanmar, calling it a vital force behind the grouping's recent progress. 'When I sit next to the ASEAN Secretary-General, Dr Kao Kim Hourn, and watch how these leaders discuss and align on economic matters, the unity they show is remarkable. That solidarity is exactly what's powering the progress of the ASEAN Economic Community (AEC),' he said. He also noted that Myanmar's proactive stance on regional trade and development efforts deserves recognition, especially at a time when internal difficulties could have easily led to disengagement. 'Credit must be given where it's due. Myanmar hasn't just participated; they have contributed meaningfully,' he added. To recap, the 2021 military coup in Myanmar that deposed democratically elected National League for Democracy (NLD) leader Suu Kyi further worsened its situation, prompting the bloc to bar its junta leaders from its summits and ministerial meetings. Nevertheless, Myanmar's senior officials have continued to attend preparatory meetings for ASEAN summits, including the 46th ASEAN Summit. ASEAN Foreign Ministers have agreed that efforts to continue engaging with all stakeholders in Myanmar must persist to find a long-term solution to the protracted crisis in the country. Malaysian Foreign Minister Mohamad Hasan said that Malaysia, as ASEAN Chair, planned to visit Myanmar to formally present a 'wishlist' gathered from various stakeholders to the State Administration Council (SAC). ASEAN will also conduct internal consultation on the proposal for a permanent ASEAN Special Envoy to Myanmar, he said.
The Sun
26-05-2025
- Business
- The Sun
ADB, World Bank to reveal ASEAN grid funding plan in October
KUALA LUMPUR: The Asian Development Bank (ADB) and the World Bank will jointly launch the ASEAN Power Grid (APG) Finance Facility Framework at the ASEAN Summit with Dialogue Partners in late October, a major step towards accelerating regional energy integration. ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said the facility is to support the development and deployment of cross-border energy infrastructure under the APG initiative. 'There is going to be a major announcement on their APG Finance Facility Framework, probably in October when the major summit takes place,' he said, referring to the 47th ASEAN Summit scheduled in October. 'In that framework, they are going to be addressing the ability to come in, in terms of more funding on the table for member states to deploy,' he told reporters during the pre-event briefing on the AEC Strategic Plan 2026-2030 on Friday. In addition to financing, Satvinder said the framework will also offer capacity-building support, including grants, free feasibility studies, and financing facilities. It will also feature improved loan terms such as moratoriums for deserving projects and protection against political uncertainties aiming to accelerate cross-border electricity projects under the APG, many of which have struggled to progress due to financing and investment risks. 'So, I think this is positive momentum that you are going to hear about in this year's chairmanship under Malaysia,' he said. Satvinder also highlighted that the scope of the APG has significantly expanded beyond the original 18 land-based connector projects. It now includes subsea transmission lines as well as national grid upgrades to support the integration of renewable energy and improve cross-border interoperability aimed to enable smoother energy flows between countries and strengthen the region's energy resilience, he added. The APG, introduced in 1997, is a region-wide initiative to interconnect electricity infrastructure among the bloc's 10 member countries, with the goal of achieving fully integrated grid operation by 2045. According to ASEAN Secretary-General Dr Kao Kim Hourn, the APG vision requires an estimated investment of US$764 billion (US$1 = RM4.23) for power generation and transmission infrastructure. Last month, ADB president Masato Kanda said the bank can readily commit US$10 billion towards the APG to expedite cross-border connections, national grid projects, and renewable energy initiatives that will facilitate power trade. It was reported that ADB has programmed US$27 billion in financing over the next three years to support ASEAN members' development priorities, including boosting economic growth and competitiveness, enhancing human capital, and strengthening resilience. Meanwhile, according to the ASEAN Centre for Energy (ACE), the World Bank has approved US$5 million in technical assistance funding to support the APG on September last year.
The Sun
26-05-2025
- Business
- The Sun
ADB, World Bank to unveil ASEAN Power Grid financing plan at 47th ASEAN Summit in October
KUALA LUMPUR: The Asian Development Bank (ADB) and the World Bank will jointly launch the ASEAN Power Grid (APG) Finance Facility Framework at the ASEAN Summit with Dialogue Partners in late October, a major step towards accelerating regional energy integration. ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said the facility is to support the development and deployment of cross-border energy infrastructure under the APG initiative. 'There is going to be a major announcement on their APG Finance Facility Framework, probably in October when the major summit takes place,' he said, referring to the 47th ASEAN Summit scheduled in October. 'In that framework, they are going to be addressing the ability to come in, in terms of more funding on the table for member states to deploy,' he told reporters during the pre-event briefing on the AEC Strategic Plan 2026-2030 on Friday. In addition to financing, Satvinder said the framework will also offer capacity-building support, including grants, free feasibility studies, and financing facilities. It will also feature improved loan terms such as moratoriums for deserving projects and protection against political uncertainties aiming to accelerate cross-border electricity projects under the APG, many of which have struggled to progress due to financing and investment risks. 'So, I think this is positive momentum that you are going to hear about in this year's chairmanship under Malaysia,' he said. Satvinder also highlighted that the scope of the APG has significantly expanded beyond the original 18 land-based connector projects. It now includes subsea transmission lines as well as national grid upgrades to support the integration of renewable energy and improve cross-border interoperability aimed to enable smoother energy flows between countries and strengthen the region's energy resilience, he added. The APG, introduced in 1997, is a region-wide initiative to interconnect electricity infrastructure among the bloc's 10 member countries, with the goal of achieving fully integrated grid operation by 2045. According to ASEAN Secretary-General Dr Kao Kim Hourn, the APG vision requires an estimated investment of US$764 billion (US$1 = RM4.23) for power generation and transmission infrastructure. Last month, ADB president Masato Kanda said the bank can readily commit US$10 billion towards the APG to expedite cross-border connections, national grid projects, and renewable energy initiatives that will facilitate power trade. It was reported that ADB has programmed US$27 billion in financing over the next three years to support ASEAN members' development priorities, including boosting economic growth and competitiveness, enhancing human capital, and strengthening resilience. Meanwhile, according to the ASEAN Centre for Energy (ACE), the World Bank has approved US$5 million in technical assistance funding to support the APG on September last year.
