Mike Penning, Parliamentary Under-Secretary for State for Transport today launched a UK Trade & Investment report which provides information on new port projects in the Asia and Asia Pacific regions showcasing seven high growth markets: Australia, China, India, Indonesia, Malaysia, Turkey and Vietnam.
The report has been published to give UK companies a unique insight into future port developments in the strategically important Asia and Asia Pacific regions and to highlight the potential opportunities for British companies who provide products and services in the development and operation of ports.
Headlines from the report include:
• Australia is set to become the largest LNG producer in the world, this, combined with its coal exports, will require over £100 billion of investment into new port, rail and logistic infrastructure.
• India will invest over £60 billion on new port infrastructure over the next 10 years to improve the effectiveness of its ports and to ensure it has the capacity to deal with its expected economic growth.
• Investment in Port infrastructure in South East Asia will exceed £50 billion with the aim of increasing capacity in Indonesia, Malaysia and Vietnam.
• China will retain its position as the largest port infrastructure market in the world for the next five years at least.