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To: banco$ who wrote (23755)	12/2/1998 8:19:00 PM
From: goldsnow	Respond to of 116759

Opportunity about to knock again in Asia By Geoffrey Barker Major new opportunities for Australian firms in huge Asian private infrastructure projects should start to expand late next year as the regional financial crisis eases, according to a Federal Government report released yesterday. The high-level report predicts overall average annual growth in East Asian economies of 5 to 7 per cent over the next decade, with infrastructure requirements ranging from $US1 trillion ($1.59 trillion) to $US2 trillion. The report, released by the Deputy Prime Minister, Mr Tim Fischer, says China's economy should grow at about 6 to 8 per cent a year and account for about half of the total infrastructure demand. Indian demand could boost Asian infrastructure demand by a further $US200 million to $US300 million. The report, entitled Asia's Infrastructure in the Crisis, was prepared by the Department of Foreign Affairs and Trade's East Asia Analytical Unit. It is the first comprehensive country-by-country survey of infrastructure requirements and business opportunities in regional electricity, water and sewerage, highways, ports, railways, telecommunications and public transport. The report details risks and opportunities facing businesses as Asian governments move to harness private sector funds and expertise to provide urgently needed infrastructure projects delayed by the crisis. It examines financial market and risk allocation mechanisms to attract private finance for Asian infrastructure projects, and the legal, regulatory and tariff frameworks necessary to attract private infrastructure investors. Taking a broadly optimistic view of East Asia's economic future, the report says the immediate crisis appears to be over for most regional economies. Although it notes that progress varies, the report says most regional economies will recover within two to five years. "In the short to medium term, business conditions will be very difficult in many Asian infrastructure sectors," the report says. "By late 1999 or early 2000, accelerated infrastructure reforms, privatisations and stimulatory infrastructure spending should start to expand business opportunities." afr.com.au