Photo: Lufa Farms | Flickr Creative Commons
Have you ever walked around a megastore, lost in the aisles of choices, only to go home without the one item you set out for? Conversely, have you ever wandered into a much smaller “mom and pop” shop and found everything you need?
Many reasons compel us to support small and medium businesses: tailored knowledge, personalized service, and the satisfaction of contributing directly to the local economy.
The benefits of supporting such small and medium-sized enterprises, or SMEs, carry over into Public-Private Partnerships (PPPs). But often, these enterprises find themselves “crowded out” by the bigger players in infrastructure. SMEs in developing countries may find it particularly costly and time consuming to comply with complex pre-qualification criteria or bidding documents, leaving them unable to compete with market leaders. This is unfortunate, because , decrease costs, facilitate logistics, encourage increased competition, and create broader opportunities for economic development.
These vital and homegrown engines of growth are the focus of a new section on the PPP in Infrastructure Resource Center (PPPIRC) that links the policies, laws, and contractual clauses that can foster a more inclusive approach to SMEs in PPPs.
Foreign direct investment (FDI) is often considered by economists and policymakers as integral to economic growth – a cornerstone of modernization, income growth and employment.
Yet for many countries, FDI can be elusive, and chasing it can lead policymakers to frustration.
Even economies built by FDI – for example, Singapore – are on this continuous chase, aware that attracting and retaining FDI is not an easy task. They also know that the benefits of FDI do not accrue automatically and evenly across all countries, sectors and local communities.
But first, there must be a realization of the importance of FDI. Singapore – a country once called a “political, economic and geographic absurdity” by its first Prime Minister, Lee Kuan Yew – never doubted the centrality of FDI, promoting it from the outset of its independence. Singapore saw in FDI an opportunity to develop a substantial industrial base, to create new jobs for its then-poor and low-skilled workforce, and to generate crucial tax revenues for its nascent government to spend on education and infrastructure.
Two decades after that initial strategic acceptance of FDI, Singapore emerged as a newly industrialized economy.
It is little surprise, then, that Singapore’s experience was highlighted at a recent World Bank Group peer-to-peer learning event here in the city-state. Responding to strong demand from client countries, two teams from the Trade & Competitiveness Global Practice – the Investment Policy and Promotion (IPP) team and the Singapore Hub team – co-hosted the learning forum entitled "Promoting Investment Policy and Promotion Reform in Times of Uncertainty."
Supported by SPIRA – the Support Program on Investment Policy and Related Areas – the forum enabled some 80 government officials from East Asia, South Asia and Africa to share their experiences in economic and export diversification; to discuss the role of international trade and investment agreements as leverage toward domestic reforms; and to discuss how to translate investment policy and promotion strategies into measurable results. SPIRA, implemented by the IPP team, supports client countries across all regions in attracting, facilitating and retaining different types of FDI.
How is Singapore anticipating the transformation of logistics?
Singapore has been considered a major logistics hub for quite some time, and is currently ranked first in Asia according to the Word Bank’s Logistics Performance Index. The sector, however, is experiencing significant transformations such as the rise of digitally enabled logistics services, and the emergence of new delivery capabilities (autonomous vehicles, 3D printing).
The Industry Transformation Map (ITM) will help Singaporean logistics keep its competitive edge in this rapidly evolving context, and aims to achieve a value-added of S$8.3billion (US$6 billion) by 2020. In particular, the ITM intends to strengthen innovation, productivity, as well as talent development across the logistics sector—including by leveraging trends such as artificial intelligence and collaborative robotics.
Eliminating inequality is integral to the Sustainable Development Goals , from ‘universal access’ to water, to ending poverty ‘everywhere’. Yet in a world where the politics of who gets what is increasingly polarised, leaving no-one behind is fundamentally a political project.
In a recent study with WaterAid in Nepal, for example, we found that in rural areas a combination of poverty, caste, and geography have shut the poorest fifth out of politics. While access to water has increased significantly for others, they are lagging behind.
Every city, country or district has its own political rules, most of which aren’t written down. Yet despite all this complexity, experts working on essential services like water, sanitation, health or education can avoid some common political missteps, wherever they work. Here are four most typical ones:
When a family of 10 smooth-coated otters appeared in Singapore’s urban downtown of Marina Bay last year, the city was ablaze with excitement and delight. Who would have thought that these otters would make a dense urban environment like Singapore home? After all, otters were thought to have vanished in the 1970s as Singapore rapidly developed into a dense metropolis.
Was this a fad? Probably. Was this a big deal? Absolutely. In a small city-state where land is considered a scarce resource, This was not the case in Singapore. Between 1986 and 2010, as Singapore’s urban population doubled from 2.7 to 5 million, its green cover also increased from 36% to 50%, all within the confines of just 710 square kilometers. The increase in green cover in urbanized Singapore was seen as a sign that the efforts by the urban planning agency, parks and water management boards had paid off, and a testament that the natural environment could be indeed be integrated effectively into the urban fabric of the city.
Today is World Environment Day. This year, it celebrates the theme of “connecting people to nature,” and invites us to think about how we are part of nature—and how intimately we depend on it.
- New Urban Agenda
- Global Goals
- sustainable development goals
- public space
- urban design
- urban planning
- Sustainable Communities
- Urban Development
- Climate Change
- East Asia and Pacific
- World Environment Day
Global benchmarking reports are great conversation starters. Here in Singapore, a nation defined by its drive for excellence, these benchmarking reports are held as evidence of the country’s development success. From topping the global education index PISA, the Global Competitiveness Index, and the Leading Maritime Capitals of the World Report, Singapore takes great pride in being first, in Asia if not globally.
An important global ranking for Singapore is the Doing Business survey, a ranking the island nation topped for many years, indicating the ease with which business can be done in the little red dot.
What do you love about the city you live in?
Your answer may be a combination of the following: ease of travel and access to many jobs using high quality and low cost public transit; livability as measured by the availability of green or community space such as parks, schools, cultural or shopping centers; ease of walking and biking encouraging active living and an engaging community; and an idea of what the city would look like ten years from now.
Over the past few decades, cheap and low-skilled labor has provided many countries — including much of East Asia — with a competitive advantage. However, with economies increasingly turning to automation, cheap labor and low skills will no longer guarantee economic growth or even jobs.
When I visited Peru for the first time last month for a business development trip, I met with the heads of some leading private education institutions. At the end of my visit, I decided to book a cultural tour of Lima. During the tour, I asked our guide Marcos where he learned English as I found him very articulate, knowledgeable and with a good sense of humor. To my pleasant surprise and astonishment, he told me that he learned it by himself, mainly online. He then started practicing with visiting tourists until he became more comfortable leading tours himself.
In 1950, the average working-age person in the world had almost three years of education, but in East Asia and Pacific (EAP), the average person had less than half that amount. Around this time, countries in the EAP region put themselves on a path that focused on growth driven by human capital. They made significant and steady investments in schooling to close the educational attainment gap with the rest of the world. While improving their school systems, they also put their human capital to work in labor markets. As a result, economic growth has been stellar: for four decades EAP has grown at roughly twice the pace of the global average. What is more, no slowdown is in sight for rising prosperity.
High economic growth and strong human capital accumulation are deeply intertwined. In a recent paper, Daron Acemoglu and David Autor explore the way skills and labor markets interact: Human capital is the central determinant of economic growth and is the main—and very likely the only—means to achieve shared growth when technology is changing quickly and raising the demand for skills. Skills promote productivity and growth, but if there are not enough skilled workers, growth soon chokes off. If, by contrast, skills are abundant and average skill-levels keep rising, technological change can drive productivity and growth without stoking inequality.
- boost prosperity
- Knowledge and Skills
- job market
- job creation
- Social Development
- Public Sector and Governance
- East Asia and Pacific
- Solomon Islands
- Papua New Guinea
- Micronesia, Federated States of
- Marshall Islands
- Lao People's Democratic Republic
- Korea, Republic of