International development projects offer pathway to Southeast Asian markets

International development projects are an effective alternate pathway into Southeast Asia’s fast-growing markets.

That was one of the key messages at recent International Development Opportunities seminars hosted by Austrade.

Attendees heard from senior procurement specialists from the World Bank, the Asian Development Bank and Export Finance Australia. The discussions focused on the region’s priorities and funding opportunities in sectors such as energy and infrastructure across Southeast Asia. The Department of Foreign Affairs and Trade also provided information about Australia’s development program.

The seminars explored how international development-funded projects are creating significant opportunities for Australian organisations. Attendees heard practical tips on bidding, successful proposals, and how to win business in the Asia-Pacific region. Industry peers also shared insights on securing international development projects.

Together, multilateral banks have committed over A$500 billion in annual funding to development projects through public sector loans and grants. They can also offer technical assistance and risk-sharing capacity.

Over 350 participants attended the seminars in Sydney, Melbourne, Adelaide and Perth. They were joined by representatives from the NSW Government, the Government of South Australia, the Victorian Government, the Western Australian Government and the Chamber of Commerce and Industry WA (CCIWA).

Austrade is hosting an Australian mission to the Asian Development Bank Business Opportunities Fair in Manila on 9–10 October 2024. Register your interest.

Participants and speakers at the International Development Opportunities seminar in Sydney with the Hon Anoulack Chanthivong, NSW Minister for Industry and Trade.

International partnerships key to success in Southeast Asia

Southeast Asia is emerging as a focal point for global business opportunities and is characterised by its diverse and dynamic economy. The region is on track to become the fourth-largest collective economy in the world, making it an attractive destination for businesses seeking serious growth.

Invested: Australia’s Southeast Asia Economic Strategy to 2040 highlighted that “In 2022, total nominal GDP for Southeast Asia was worth US$3.60 trillion. By 2040, total nominal GDP will grow by nearly 383% to US$13.86 trillion.”

As Southeast Asia continues to grow as a global economic powerhouse, international development partnerships will be instrumental in shaping the region’s business landscape and unlocking its vast potential.

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