ERIC Jones, Chief of Staff of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, traveled to Singapore on 21st June 2019, where he reaffirmed OPIC’s commitment to partnering with the country to support development and investment in priority sectors including digital and energy infrastructure across the Indo-Pacific region.
“The United States and Singapore share a strong and longstanding relationship based on goals of stability and prosperity,” Jones said. “Through this visit, I’m proud to reaffirm OPIC’s commitment to partnering with Singapore to support economic growth across the region and advance prosperity in the Indo-Pacific.”
While in Singapore, Jones met with high-level government officials from the Ministry of Finance and Infrastructure Asia, and also discussed high-impact investment opportunities in the region with local business leaders.
Singapore is the second stop on a four-country Indo-Pacific tour that began in Malaysia and will continue to Indonesia and Laos. Jones is visiting the region to promote U.S. investment, strengthen relationships, and explore opportunities to cooperate with strategic partners to drive economic growth and counter predatory lending practices.
OPIC currently has more than $3 billion invested across 75 projects in the Indo-Pacific and a long history of collaborating with key partners in the region. Earlier this year, OPIC signed a memorandum of understanding with the Government of Singapore to strengthen coordination in advancing development throughout the region.
The visit comes at a time when OPIC prepares to transform into a new, modernized agency called the U.S. International Development Finance Corporation (DFC) in October 2019. Equipped with a more than doubled investment cap of $60 billion and new tools like equity authority, DFC will have more resources to invest in priority regions such as the Indo-Pacific.
In an interview with CNBC, the OPIC Chief of Staff said US companies are “super excited to invest in Asia.” For the video clip of the interview click here.