The move will help Asian countries provide efficient infrastructure to the people at the right price as well as boost national productivity.
However, he said most Asian countries did not produce the right amount of infrastructure as they should despite the growing wealth and high level of savings.
The local government, he said, is currently making sure that the productivity towards infrastructure is being done, such as airport and railways, in order to cater to the increasing demand from consumers.
"Without productivity, it's like we are 'adding fuel to the fire', and as a result, we can never catch up (with the rapid development)," he said at the seventh Global Malaysia Series' talk here Tuesday.
To do that, he said every government needed to introduce a transparent and coherent relative framework, in terms of open bidding for contracts and others.
The move would help accelerate countries' economic advancement, he said, alluding to the nation's aim to achieve a high-income status by 2020.
Meanwhile, Yeoh declined to comment on the direct-tender award by the Energy Commission (EC).
"I just want to answer questions regarding the event today," he said.
YTL Corp's wholly-owned subsidiary, YTL Power International Bhd was part of a consortium that was selected by the EC for a power plant project in Pasir Gudang, Johor.
The commission said on Saturday the group was picked, through the direct-tender process, based on their ability to offer competitive rates in the recently concluded tender exercises.
It was reported that the decision on direct negotiation was expected to help the commission to finalise the contract quickly and speed up the delivery of the power plant.
The yet-to-be completed Southern link, which links Lenggeng in Negeri Sembilan and Yong Peng in Johor, will provide the interconnection between new power plant and the national grid.
The construction, which will cost a combined RM8 billion to RM10 billion, was expected to start by the middle of next year.
The commission explained the selection of the procurement methodology hinged on the date when the plant should be operational, the time required for the development and completion of the plant, availability of a suitable site to meet the commercial operation date requirement, and the time required to adhere to environmental and regulatory requirements.
So far, the commission had awarded contracts to build Track 1, 2, 3A and 3B through an open tender process.