The World Bank is releasing its first-ever comprehensive study of container ports in South Asia, examining the competitiveness of major ports across the region and suggesting ways they can work more efficiently to boost trade.
The report, to be formally launched on April 27, examines the performance of the ports, which handle about 75 percent of the region’s trade by value, and assesses the role that the private sector, governance, and competition have played in their development.
Trade has been key to South Asia’s remarkable economic average annual growth rate of about 6.7 percent since the beginning of the century, the second-highest in the world after East Asia.
By improving the transport infrastructure, including ports, and easing bottlenecks that hinder the flow of goods, the World Bank is helping South Asia lower its high logistics costs, capture a bigger share of the global market and create more jobs, supporting its progress toward becoming a middle-income region.
First, I’m just very excited to meet everyone there! I’m eager to learn and share.
Second, Peshawar! The oldest city in Pakistan! So much history!
Third, and most importantly, I’m looking forward to being part of a great movement. Let me explain.
Private equity firm JAB just bought Panera (a bakery, sandwich, and salad chain) for $7.5 billion. Yes, that’s billions of dollars. Nvidia (a graphic and mobile computing company) had a stock price of around $14 a share in 2012. Today, shares are worth $100 and it has a market valuation of $57.8 billion. What do these two very different companies, operating in completely separate markets, have to do with each other?
Future focused innovation.
Many people think that all innovation is future focused. Innovation within a company is a function of its strategic direction. If the company is simply about reducing costs and maintaining it’s market share, then innovation tends to be about present operations and marketing. It’s about efficiency or managing growth. Panera and Nvidia are different.
Early on Panera perceived a shift in casual diners patience for waiting. Consumers in big cities want good food without the wait … so, in 2014 they started deploying digital technologies to cut waiting times and allowed advanced orders. Many other restaurants are now trying to follow their lead, a couple of years too late. Yes, Panera has quality food and good locations and from that, their trajectory of growth was good. But they wanted to be decisively better than their competition. They needed to get to capabilities no company had. They needed to get innovative with digital in order to deliver their great food. They are decisively winning now.
In 2016 Nvidia introduced the worlds fastest processing unit for automobile AI. They are also dominant in virtual reality hardware. Years ago, when Nvidia had to start building for the future, there wasn’t clear and present demand for high powered computing on mobile, virtual reality, and self-driving automotive platforms. But they made the decision to innovate for the future and now, they own it.
Why am I excited to go to DYS 2017? Because it’s very likely that someone in attendance will create a disruptive service or technology. You will build a company around it or sell it and use the proceeds to create 10 more services or technologies. I can’t wait to see all the ideas and energy around improving the future!
Remittances to developing countries decreased by 2.4 percent to an estimated $429 billion in 2016. This is the second consecutive year that remittances have declined. Such a trend has not been seen in the last 30 years. Even during the global financial crisis, remittances contracted only during 2009, bouncing back in the following year.
In several economic infrastructure sectors, India enjoyed a strong track record of harnessing Public-Private Partnerships (PPPs). Private sector investments in infrastructure more than tripled from the 10th Plan Period (2002-07; INR 2 trillion) to the 11th Plan (2007-12; INR 7.3 trillion). Between these plan periods, private sector share in infra investments increased from 22% to 38%. For a considerable period of time, on the score of mobilizing infrastructure investments through private participation among developing countries, India ranked 1st in Energy and Transport sectors and 2nd in Telecom (behind Brazil).
This erstwhile success of India’s PPP program is attributable to well-crafted reform efforts by the government, and ably executed by the private sector, banks and other financial intermediaries. Following the economic liberalization initiated in the early 1990s, the government has created an enabling environment for private participation through several sector-specific and cross-sectoral initiatives, e.g., relaxing entry norms, tax concessions, independent regulation in telecom and power, mobilization of additional revenues through tolls and cess on fuel, establishment of a viability gap fund mechanism and India Infrastructure Financing Company Limited, etc. The financial intermediaries, too, quickly moved up on a steep learning curve to cater to this new and challenging mode of delivering infrastructure services. Private sector responded enthusiastically and seized these opportunities to develop their own capabilities and progressively build larger and complex projects. Today, private sector operators are serving more than 90% of the mobile phone users, owning ~40% of the power generation capacity, built and operating a substantive portion of arterial network of national highways, besides world-class airports in four metros and container handling facilities at many ports.
Much more than just funding by the World Bank under its Technical Education Quality Improvement Project (TEQIP) has clearly helped COEP not just arrest the slide in academic standards but also reemerge among the top ranking engineering colleges in the country where both the faculty and the students take pride in being meritorious.
Trophies and certificates of merit can be seen displayed not just in COEP director Prof Bharatkumar B. Ahuja’s airy room in the restored heritage building, which houses the administrative office, but in many other workshops and main halls of the college. Prof Ahuja states with pride that after IITs, it is the first choice of students from the state.
In an environment where industry is known to be critical of most engineering colleges, COEP has received Rs. 1 crore worth scholarships for students this year. Many of the industries are coming forward to help the college set up labs for promoting innovation. Having got autonomy, a precondition under the World Bank project, COEP is striving to achieve university status to push ahead with its programme to introduce more specializations and research. It boasts of 118 PhDs among its 217 faculty members.
During a recent visit, unmindful of the high temperature in the tin roofed workshop of the yore, enthusiastic students could be seen engaged in club activities like robotics, racing car, 3D printing, etc. The college has over 30 clubs including a satellite club, where like in a relay race projects are started and taken forward by next batch of students. On the fourth floor of one of the buildings, in a makeshift station the satellite club members monitor and communicate daily with the communication polar satellite Swayam ( the fourth student satellite from India) when it passes over Pune. The club is now working on a new satellite - Solar Sail - with research funding from ISRO.
This year, perhaps even more than in previous years, I am very excited to come to DYS for two main reasons.
First, since its inception in 2014, the Digital Youth Summit has become one of the premier technology conferences in Pakistan. Back in 2014, we got some skeptical responses to the idea of holding a tech conference in Peshawar. National speakers were hesitant to make the trip to Peshawar. Security restriction on international travel were in place for KP up to a week before the event. Several international speakers dropped out because of difficulties getting visas.
But in 2014, the first Digital Youth Summit came on the tech scene, redefining Khyber Pakhtunkhwa as an emerging digital economy. The event brought together local and international participants (some attending their sessions by videoconference) to deliberate on supporting the growth of nascent ecosystems. Local youth showed up, curious about how the internet is shaping jobs of the future. I met one young woman who had traveled on an overnight bus with her child and sister just to learn more about what it means to work online. She told me excitedly that she could not wait to begin her new internet based career. And for the international speakers who made it, the hospitality and warmth of Khyber Pakhtunkhwa reshaped their views of Pakistan.
Fast forward three years to DYS 2017. DYS has become an established event in Pakistan’s tech community. It has provided an international platform to showcase the vibrancy and enthusiasm of Khyber Pakhtunkhwa as it embraces the digital economy. And while it continues to identify with its core objective—to raise awareness among youth—it has also become a platform for Pakistan’s tech community to deliberate the growth of tech entrepreneurship, the future of digital payments, and how to promote Pakistan’s digital transformation. The commitment and presence of the Government, as well as participation of a wide range of international experts, complements each panel discussion. But it is the enthusiasm and excitement of the youth that gives the event its signature energy and vibrancy.
Happy New Year to all our Sri Lankan friends and colleagues celebrating the Sinhala and Tamil New Year this month; and Happy Easter to those celebrating it.
This is my first opportunity to celebrate these various holidays in my adopted country. I love the energy, the buzz of excitement everywhere and the decorations coming up in many of the commercial districts. I have been asking so many questions about the importance of the New Year holiday; and at the same time enjoying the preparations for the festivities, the anticipation of the big day as well as the serious messages.
I have learnt that the Sinhala and Tamil New Year, also known as 'Aluth Avurudda' (in Sinhala) and 'Puthandu' (in Tamil) is very important to all Sri Lankans and it celebrates the traditional Lunar New Year. It is celebrated by most Sri Lankans – a point of Unity and a Joyful occasion.
Even more importantly the holiday coincides with the New Year celebrations of many traditional calendars of South and South East Asia – a regional point of unity! Above all, this is also known as the month of prosperity.
So what does the holiday mean to you as a Sri Lankan, or maybe you are someone like me who may not be Sri Lankan but loves the country and its people?
At the World Bank Group, promoting shared prosperity and increasing the incomes of the poorest 40 percent of people in every country we work in is part of our mission. The first goal is to end extreme poverty or reduce the share of the global population that lives in extreme poverty to 3 percent by 2030.
Afghanistan grapples with a range of challenges from growing insecurity to stagnating growth and rising levels of poverty. It is no surprise that the impact of the violent conflict on the country’s economic prospects and the welfare of its people is profound. Yet, Afghanistan carries ambitious development goals including achieving gender parity in primary schooling by 2030 among others. To ensure Afghanistan meets its goals, it is important to know how the country has progressed on socio-economic outcomes.
In collaboration with the Ministry of Economy of the Islamic Republic of Afghanistan and based on data provided by the Central Statistics Organization, the World Bank recently published the third edition of the Provincial Briefs (also available in Dari and Pashto), which provides a comprehensive profile of the most recent progress on a set of socio-economic indicators including education both at the national and at the provincial levels.
What do they reveal? We can see Afghanistan has achieved impressive improvements in human development outcomes—in areas such as education, health, and access to basic services. But this overall progress has not benefitted everyone equally and gaps in access between Afghans living in different provinces persist. In fact, where Afghan families live matters greatly for their socio-economic outcomes. And when it comes to schooling, this is no different. Location determines whether children will go to school or not.
We may not know exactly what the world will look like in two decades, but we know this: it is going to be a world of cities.
Each year, urban areas are growing by an average of more than 75 million people – more than the population of the world’s 85 smallest countries combined.
For the world’s economy, this is great news, since cities produce 80 percent of global GDP, despite currently being home to only 55 percent of the population. But it is a problem for urban infrastructure, which can’t keep up with such fast-paced growth. As a result, – from flooding and landslides that can decimate informal housing settlements, to earthquakes that can devastate power grids and water systems.
These risks could be disastrous for the urban poor, 881 million of whom currently live in slums (up 28 percent since 2000). And climate change – which is increasing the intensity and frequency of natural disasters – will only exacerbate the problem. For this reason, multilateral and government institutions now see resilience and climate adaptation as integral pillars of development.
The Swiss State Secretariat for Economic Affairs (SECO), for example, considers low-emission and climate-resilient economies to be key to global competitiveness. A recent report by the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR) found that climate change may force up to 77 million urban residents into poverty by 2030 – unless we take action to improve the resilience of cities around the world.