- The Hon Anthony Albanese MP, Prime Minister Of Australia
- Senator the Hon Penny Wong, Minister for Foreign Affairs
The Albanese Government has today announced two milestone investments to boost Australia's economic engagement with Southeast Asia, supporting new opportunities for Australian investors and businesses.
The Government will invest AUD$175 million in IFM Investors' Asia-Pacific Debt Fund and USD$50 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 (EFA), will help expand the presence of Australian investors and businesses in Southeast Asia.
These investments are being delivered through the Government's A$2 billion Southeast Asia Investment Financing Facility (SEAIFF).
Australia continues to increase our economic engagement with Southeast Asia under Invested: Australia's Southeast Asia Economic Strategy to 2040. ASEAN alone represents nearly 700 million people, and by 2040 is expected to be the fourth largest economy in the world.
The A$175 million investment in IFM Investors' Asia-Pacific Debt Fund will support IFM's expansion into Southeast Asia, targeting investments in key sectors including renewable energy, telecommunications and logistics.
The USD$50 million investment in Plenary's new Southeast Asia PPP investment fund will enable it to finance essential public infrastructure projects across Southeast Asia – using Australian know-how to deliver nation-building projects in sectors such as healthcare, education and transport.
Quotes attributable to Prime Minister Anthony Albanese:
"Together, these investments represent a major step forward in my Government's delivery of our Southeast Asia Economic Strategy.
"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"
Quotes attributable to Foreign Minister, Penny Wong:
"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."
Quotes attributable to Minister for Trade and Tourism, Don Farrell:
"As a bloc, Southeast Asia is projected to become the world's fourth-largest economy by 2040.
"Through these new investments, the Albanese Government is backing Australian exporters and investors to take advantage of the growth of the world's most dynamic region
"We are determined to leverage the enormous opportunities for Australian businesses, creating and sustaining jobs both here and in Southeast Asia."