Australia Pledges $1.3 Billion to Spur Southeast Asia Investment

Prime Minister Anthony Albanese will unveil longer business visas and a A$2 billion ($1.3 billion) financing facility as the centerpiece of a package to drive Australian trade and investment in Southeast Asia, deepening regional ties at a time of uncertainty over the US-China economic relationship.

Albanese will announce the measures in a speech to top executives at a special summit between Australia and the Association of Southeast Asian Nations in Melbourne on Tuesday, saying “Southeast Asia is where Australia’s future lies.”