equity raised through ipos globally in 2017 were in the asia pacific. • investors now have a wide array of asian assets to choose from. as asian companies gain market share globally, investing in asian companies has become more attractive. • asia ’ s share of companies with market value of more than us $ 10 billion stands at 30 %, compared to 20 % just ten years ago. investors in asia are also looking to private markets for investment opportunities. • asian companies are choosing to stay private for longer and becoming more receptive to venture capital ( vc ) and private equity ( pe ) financing. • asia is already a major destination for vc and pe investments. • last year, vc and pe investments into asia reached us $ 160 billion, accounting for 30 % of global investments, surpassing europe for the first time. • with close to 7, 000 start - ups in southeast asia alone, there are opportunities abound for private investments in the region. http : / / www. imas. gov. sg / news - and - publications / speeches - and - monetary - policy - statem... 21 - 07 - 18 connecting global markets supporting asias growth page 3 of 7 the demand for infrastructure financing in asia is outpacing countries ’ funding capacity. • according to the adb, asia will need around us $ 1. 7 trillion annually in infrastructure financing between now and 2030 to sustain economic growth. • currently, more than 90 % of infrastructure investment is financed by governments. • this is not sustainable if the demand for infrastructure is to be met. the challenge for governments in asia is this : to make infrastructure more attractive to private capital. • at their recent meeting in singapore, asean finance ministers agreed to accelerate infrastructure development through mobilising private capital. this means mainstream infrastructure financing as an asset class. • the prospects are good. there is a strong pipeline of projects in the transport and energy sectors, diversified across the asean countries. • we have seen some early success. • for instance, the debut of project bond issuance by pt paiton, indonesia ’ s second - largest independent power producer, reflects growing demand for asian infrastructure debt. singapore is well positioned as a gateway to investment opportunities in asia. • we offer a world class financial centre, with a sound regulatory framework and business - friendly environment. • with its pan - asian reach, singapore is an ideal location for investors to set up base and tap on opportunities in the region. let me highlight two things singapore

our regional network reports that demand is on the increase, the market outlook for the next six months is favourable and corporate profitability has improved considerably. the economic upturn is primarily being reinforced and driven by stronger household demand, although without any substantial increase in investment or employment. the upturn has both broadened out and gained momentum in the past months. all sectors report stable or increasing demand and sales. the market outlook for the next six months in this county is very positive. optimism does not translate into a stronger willingness to invest, however. the picture for the petroleum and offshore supply industry is mixed. operators ’ production of oil and gas is high. some sectors of the offshore supply industry experienced a difficult fourth quarter, but are more optimistic about this year. the maintenance and modification market is showing steady, although moderate, growth. most companies report stable employment. extensive rationalisation and restructuring measures are still on the agenda in organisations and enterprises, and so far, growth is being absorbed by excess capacity or by increased productivity. wholesale and retail trade and the building and construction sectors are increasing their workforces. all industries continue to report that highly qualified labour is in ample supply. of the norwegian counties exporting traditional goods, rogaland is the third largest. the public sector and some private service industries are as important for employment in rogaland as they are in the rest of norway, but the share of employment in these sectors is lower than the national average. manufacturing and oil and gas production are important in rogaland, but the internationally exposed sector is also relatively large. employment in rogaland is mainly concentrated in engineering, shipbuilding and construction of oil platforms. many are also employed in the food and beverage industry, and rogaland is an important farming county. the labour market in norway has improved. the number of persons employed in norway began to increase in summer 2003 and unemployment stabilised. employment in distributive trades has increased. there are also signs that employment is rising in education, the public sector and health and social services, from the weak levels recorded in the first six months of last year. manufacturing employment remained well below the level one year earlier in the fourth quarter of 2003, but is falling at a slower pace. unemployment has been fairly stable. adjusted for seasonal variations, lfs unemployment stood at 4. 6 per cent of the labour force as measured by statistics norway ’ s labour force survey ( lfs ) in the fourth quarter of 2003. growth in household demand,