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business 'needs to tackle poverty'

May 2005

A bigger contribution from the private sector will be vital to economic growth and poverty reduction throughout Asia and the Pacific, an Asian Development Bank conference was told in Manila, the Philippines capital.

Geert van der Linden, the bank's vice-president, who made the appeal, revealed that gross domestic product in developing Asia grew by more than seven per cent last year, the highest rate since the 1997 financial crisis, but private investors had their reservations. He said the significant barriers to investment they had found included corruption, economic and regulatory uncertainties, and insufficient infrastructure, finance and skills.

The bank is to publish a good practice reference guide to taking a strategic approach to private sector development.


Further Information
http://www.adb.org
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