No free lunches in ASEAN infrastructure projects, says EDF's Philbe

VIENTIANE -- There are no shortcuts in building infrastructure and to get a project done in time and without cost overruns, the best way is the right way, said Jean-Christophe Philbe, senior vice president for Asia at French power company Electricite De France at the ASEAN Business and Investment Summit (ABIS) 2016 held in the Laotian capital, Vientiane, on Monday.

Philbe talked about how the environmental and social aspects of infrastructure projects are becoming increasingly important. "We cannot ignore or underestimate the role of nongovernmental organizations when large infrastructure is involved," he said. "To attract financing, projects have to be compliant with the required environmental and social guidelines, such as World Bank rules, International Finance Corporation performance standards and Organization for Economic Cooperation and Development guidelines."