Albanese unveils 'milestone' Southeast Asia investments
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The news: The Albanese Government has announced two milestone investments to boost Australia’s economic engagement with Southeast Asia, and help expand the presence of Australian investors and businesses across the region.
The numbers: The government will invest $175 million in IFM Investors’ Asia-Pacific Debt Fund and USD50 million ($76.5 million) in a new Southeast Asia Public-Private Partnership (PPP) investment fund established by Australian infrastructure specialist Plenary.
Both investments, administered by Export Finance Australia, are being delivered through the Government’s $2 billion Southeast Asia Investment Financing Facility.
The context: The announcement form's part of the Labor government's strategy 'Invested: Australia's Southeast Asia Economic Strategy to 2040'.
The new $175 million investment in IFM Investors’ Asia-Pacific Debt Fund is set to support IFM’s expansion into Southeast Asia, targeting investments in key sectors including renewable energy, telecommunications and logistics.
The USD50 million investment in Plenary’s new Southeast Asia PPP investment fund support the financing of essential public infrastructure projects across Southeast Asia, in sectors such as healthcare, education and transport.
What they said: “Together, these investments represent a major step forward in my Government’s delivery of our Southeast Asia Economic Strategy,” said Prime Minister Anthony Albanese.
“A quarter of a billion dollars to kick-start Australian investments in the region and back the growth of Australian companies. These investments will boost exports and supply chains, helping grow jobs back home.”
Foreign Minister Penny Wong commented: “Australia is fully invested in Southeast Asia, and we continue to build opportunity and prosperity together. Almost $1 billion of new Australian investment has been supported under Invested, and two-way trade has increased $6 billion between 2023 and 2024.
“Trading and investing more in our region means more opportunities for Australian businesses to grow, creating more Australian jobs and boosting our economic prosperity and resilience.”
The source: PMO media release
