THE PHILIPPINES and other countries that have moved from agriculture to services must reassess the importance of manufacturing in their economies and are urged to look at developing higher-productivity and complementary services, a new report from the Asian Development Bank (ADB) said.
MANILA, Philippines – The Asian Development Bank (ADB) is eyeing to accelerate investments in end-user energy efficiency to help Asia Pacific economies meet the growing demand for power. At the 8th Asia Clean Energy Forum organized by the ADB, Bindu Lohani, ADB vice-president for knowledge management and sustainable development, said the Philippines needs $601 million in investments for energy efficiency from now up to 2020. He said there is huge potential for saving energy by making buildings, vehicles, machinery and water pumps more energy efficient to the benefit of consumers and the environment, and the time is right for ADB to do more in the area. “We want to promote demand-side energy efficiency through public and private sector partnership with ADB taking a lead role in providing customized policy advisory services, technical assistance and innovate financing support in developing member countries,” Lohani said. In a new ADB study, the multilateral lender noted the booming demand for power in developing Asia. In the study, the ADB said the region’s share in primary global energy consumption is set to rise to 56 percent in 2035 from only 34 percent in 2010. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 By then, the ADB said most Asian countries will produce less than half of the energy they need, forcing substantial fuel imports. The ADB study said if governments push for more energy efficiency investments, there would be less need to build power plants. This would free up government funds for spending elsewhere. Read More …
MANILA, Philippines – The benefits of regional integration are numerous not just for the different economies but for the private sector as well as it would encourage companies to further improve their services and products, the Philippine chief of a multinational oil firm said. In a paper on regional integration, Pilipinas Shell Petroleum Corp. country manager Edgar Chua said these initiatives could provide an opportunity for companies like Shell to further improve themselves and compete more “through operational excellence.” “Hence, we benchmark our product and services against the best of the best in the world. Benchmarking is our way of knowing where we are vis-à-vis our peers and competitors,” said Chua in an article posted on the company’s website. In Asia, negotiations for various regional integration initiatives have taken off. One such initiative is the negotiations for the proposed Regional Comprehensive Economic Partnership (RCEP). The proposed RCEP, which includes all the 10 ASEAN economies plus their six free trading agreement partners namely, Australia, China, India, Japan, Korea, and New Zealand, would create the world’s largest free trade bloc with huge impact to the world economy, according to the Asian Development Bank in its ADB Outlook 2013. The RCEP economies have a combined total population of 3.5 billion, a gross domestic product of $21.4 trillion and trade receipts of $12 trillion, according to the ADB. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Chua said besides the RCEP, the so-called ASEAN economic community (AEC) has also emerged. With a target Read More …
MANILA, Philippines – Financing for overall development of small and medium enterprise (SME) were discussed recently by former Agrarian Reform Secretary Philip Ella Juico in a dialogue with the SME finance working group at a forum held at the Asian Development Bank (ADB). Juico, a former dean of the De La Salle University Graduate School of Business, shared his characterization of SME’s in the Association of Southeast Asian Nations (ASEAN) as a basis for the establishment of credit risks of SME’s to qualify under ADB-assisted development finance windows. Juico said the proposed characterization, could be used as a basis for risk mitigation financing policies of development banks. According to Juico, the SME sector in ASEAN is not monolithic and to regard it as such may be counter-productive due to the diverse characteristics of the sub-sectors where SMEs operate. Juico cited the case of the electronics and e-ICT subsectors in Malaysia and Singapore where both subsectors exhibited strong performance as original design manufacturer (ODM) and as electronics manufacturing Services (EMS) production platforms with substantial financial and R&D government support. Both subsectors in the two countries enjoyed strong performance in both the domestic and export markets. The same subsectors in the Philippines and Indonesia, however exhibited different characteristics with the electronics and e-ICT industries transitioning from a “mom-and-pop” to corporate operations mainly as subcontractors to domestic-based multinational companies. Juico pointed out that these subsectors in the two countries have been operating as original equipment manufacturer (OEM) production platforms at the lower end Read More …
Although the Philippines is surrounded by water and experiences at least 20 cyclones in a year, it is still far from achieving water security, according to the Asian Development Bank (ADB). Based on the National Water Security Index, the Philippines comes out of level two out of five, said Wouter Lincklaen Arriens, ADB’s water resources specialist. “It means it still has some quite a way to go,” Arriens said. The index contained in the Asian Water Development Outlook 2013 measures the water adequacy of 48 countries in Asia and the Pacific region. Although institutional arrangement and levels of public investment has been increasing, a level two in the index means that the Philippine government had “inadequate” legislation and policy toward securing water. Focus on PHL According to the latest study, the Philippine lagged in urban water security index, which gauges water services and management in cities. The country scored one out of five. Urban water security also gauges the country’s public infrastructure and utilities, especially wastewater treatment. To this, Arriens noted: “Much has to be done, especially in cities which is an area of serious concern.” The fastest increase in water demand now comes from industries and cities, ADB revealed. “Cities occupy 2 percent of the world’s land, [but] uses 75 percent of its resources.” The city’s wastewater was often released into rivers and lakes with only a fifth or 22 percent of discharges being treated, the study showed. The study added that 80 percent of Asia’s rivers are in Read More …
Philippine banks are immune to global economic shocks, one of the major international credit rating agencies said Monday. The post Moody’s say Philippine banks immune to global economic shocks appeared first on Good News Pilipinas. You might also like: Moody’s raises Philippine credit rating, citing healthy economy ADB says local banks shielded well from global crisis WB forecasts PH growth at more than 6% through 2015
The Philippine economy is expected to continue growing by more than 6% in the next three years, according to a World Bank report. The post WB forecasts PH growth at more than 6% through 2015 appeared first on Good News Pilipinas. You might also like: World Bank raises Philippines 2012 growth forecast anew ADB hikes Philippine growth forecast, cuts rest of Asia ADB forecasts faster Phl economic growth in 2012 and 2013