The ASEAN Valuers Association (AVA) joined many national and regional bodies in supporting and adopting the International Valuation Standards at its 20th VA Congress held in Singapore from 11 to 13 September 2017. The event was organised by the Singapore Institute of Surveyors and Valuers (SISV). 

Close to 300 ASEAN valuers, as well as representatives from Asia and the Middle East, attended the Congress which was officially opened by Singapore’s Minister for National Development and 2nd Minister for Finance, Mr Lawrence Wong. 
AVA was established in 1981. After 36 years of development, it has emerged as a strong regional valuation body. With increasing cross-border infrastructural developments and investments, the importance of adopting global standards cannot be underestimated. 

“While each of the AVA countries has its own unique local valuation standards that reflects its particular characteristics and norms, we agree unanimously to adopt the IVS for consistency and transparency, and to meet the growing international needs,” said Dr Lim Lan Yuan, President of AVA at the recent AVA Governing Council held on 11 September 2017. 

ASEAN, the sixth largest economy in the world, is expected to grow to US$4 trillion within the next three to four years. It plays a crucial role in the growth of the Asian and global economies.