Asia needs $26 trillion for infrastucture investment in 2016-2030

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2017-06-19 17:07 GMT+8

The 2nd ANNUAL BCM SUMMIT is being held under the theme “Regional Connectivity in Asia” to discuss opportunities in Mongolia to accelerate trade and economic development in Asia at Ikh Tenger complex.

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18:09 2017-06-19

The 2nd ANNUAL BCM SUMMIT has successfully held under the theme “Regional Connectivity in Asia” to discuss opportunities in Mongolia to accelerate trade and economic development in Asia today at Ikh Tenger complex.

This year more than 250 domestic and international delegations have attended the summit, addressing issues on China-Russia-Mongolia economic corridor, connecting Asia with integrated power supply, overcoming Asia`s Infrastructure Investment Gap and regional business trends for environmental, social and governance performance.

The closing remark was delivered by B.Bayar, BCM Executive Committee Member and Managing Partner, ELC Law Firm.

17:07 2017-06-19

Right now the final panel discussion under the topic Evidence on-the-ground: ESG as competitive advantage is being held involving below panelists:

  • T. BULGAN, Director of Green Development, Ministry of Environment
  • Bayanjargal BYAMBASAIKHAN, Managing Partner, NovaTerra
  • Vanchig GANZORIG, Chairman, Bat Solutions Partners
  • Davaadorj KHULAN, Founder and Director, Natural Essentials
  • Benoit RIBESSE, BCM Board Director and CEO, Engie Mongolia
  • Galzagd TUUL, Director of Eco Bank, XacBank.

The panel covers new trends (climate, social) and best practices in implementing infrastructure, energy and mining projects.

Davaadorj KHULAN, Founder and Director, Natural Essentials noted that environmentally friendly production bring positeve effects on sales. Moreover, she added "At first, our customers think that package of our products are covered with ugly brown paper and did not enjoy it. Then we explained the reason why we pack our products with that paper and now they are demanding other brands to use environmentally friendly packages as we do". Currently, the Natural Essentials are working to export their natural cosmetic products to Korean market.

Meanwhile, Galzagd TUUL, Director of Eco Bank, XacBank stated that our bank begun to provide more loans for green business and it has affecting indirectly to the other loan providers.

Previously, Jon Lyons, BCM Energy and Environment Working Group Chair and Vice President, Erdene Resource Development Corporation delivered presentation on Future Summit Trends: Environment, Social and Governance performance.

15:14 2017-06-19

The 2nd ANNUAL BCM SUMMIT is being held under the theme “Regional Connectivity in Asia” to discuss opportunities in Mongolia to accelerate trade and economic development in Asia at Ikh Tenger complex.

Declan MAGEE, Senior Country Economist, Asian Development Bank delivered a presentation on Meeting Asia’s Infrastructure Needs. 

Key messages of his presentation was as follows;

  • Developing Asia needs $26 trillion (in 2015 prices), or $1.7 trillion per year, for infrastructure investment in 2016-2030
  • Without climate change mitigation and adaptation, the needs are $22.5 trillion, or $1.5 trillion per year
  • These are more than double ADB 2009 estimates
  • The infrastructure investment gap varies across country
  • Both public and private sectors must increase infrastructure finance-reforms are key.

Following, the panel on Overcoming Asia`s Infrastructure Investment Bank commences. -Panelists involving;

  • Matthew BERSANI, Global Head of Corporate Finance, Shearman and Sterling LLP
  • Luvsandorj DULMAZUL, Board Member, Ulaanbaatar Chamber of Commerce, Managing Director, Wolfson Capital
  • Hirotake HIROSE, Chief Representative, Bank of Tokyo Mitsubishi UFJ Ltd
  • Declan MAGEE, Asian Development Bank
  • A.MUNKHBOLD, Director, Research Department, National Development Agency
  • Aihua XIE, General Manager, Hengyuan International Engineering Group

The panel discussion covers insights and challenges for private sector on how to make contribution to infrastructure and trade development in the region and benefit from the progress.

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