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The Asian Development Bank, Erdenes Mongol LLC, and the Business Council of Mongolia worked together to organize the Central Asia Regional Economic Cooperation (CAREC) Investment Forum that took place on 24 September 2015 in Ulaanbaatar, Mongolia. The forum was the first-ever conference to focus on the investment environments in the CAREC countries. More than 300 high-level government officials and business leaders from 26 countries attended the event to share their insights on how to make effective investments within the region. They also shared their experiences and expectations on how to manage investments in Mongolia. The main topics discussed during the conference were: (i) generating a recipe for success in the CAREC region that will focus on identifying and making good investments, (ii) exploring the investment environment and policies in CAREC member countries, and (iii) investing in a regionally connected Mongolia.
Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.
This is an important and timely volume: important because ASEAN is an increasingly significant and influential regional and global actor; and timely because, as the 2015 ASEAN Economic Community target approaches, what is needed is a sympathetic yet arms-length survey of the issues and challenges. ASEAN will miss some of the targets laid out in its AEC Blueprint, but the reader is left in no doubt that the ASEAN spirit is alive and well. The editors include a distinguished former Secretary General of ASEAN and the leading academic analyst of ASEAN economic cooperation. They and their co-editors are to be congratulated for soliciting contributions from an outstanding and diverse group of authors, and then adding their highly authoritative commentary and analysis. A must read for anybody seriously interested in ASEAN.
The Asian Economic Integration Report is an annual review of Asia's regional economic cooperation and integration. It covers the 48 regional members of the Asian Development Bank. This issue includes Special Chapter: How Can Special Economic Zones Catalyze Economic Development?
Digital trade promotion has been a long-standing priority for CAREC member countries, as part of their integration into global value chains and economic diversification. This study examines the legal environment on electronic transactions as well as the opportunities and challenges in expanding electronic commerce in the CAREC region. It makes a case for modernization and harmonization of laws of CAREC countries leveraging on international instruments and best practices for electronic commerce transactions. Adequate legislation to protect personal privacy and consumers’ rights and combat cybercrime is also crucial. Finally, institutions must be built with trust, within and among countries and through regional cooperation.
This study examines major challenges and issues associated with developing regional infrastructure through the fostering of regional cooperation in Asia, and provides a framework for pan-Asian infrastructure cooperation. The study's long-term vision is the creation of a seamless Asia (an integrated region connected by world-class, environmentally friendly infrastructure) in terms of both "hard" (physical) and "soft" (facilitating) infrastructure. The soft part supports the development and operation of the hard component. Findings indicate that the benefits of upgrading and extending Asia's infrastructure networks are substantial, and that all countries in the region would benefit. A logistics network is only as good as its weakest link; each country in a regional supply chain gains from infrastructure improvements made in others. Improving connectivity in the region would bring Asia large welfare gains through increased market access, reduced trade costs, and more efficient energy production and use. According to the study, to achieve this Asia needs to invest approximately $8 trillion in overall national infrastructure between 2010 and 2020. In addition, Asia needs to spend approximately $290 billion on specific regional infrastructure projects in transport and energy that are already in the pipeline
Under the ambitious leadership of President Xi Jinping, China is zealously transforming its wealth and economic power into potent tools of global political influence. But China's foreign policy initiatives, even the vaunted "Belt and Road," will be shaped and redefined as they confront theground realities of local and regional politics outside China. In China's Western Horizon, Daniel S. Markey, a scholar of international relations and former member of the U.S. State Department's policy planning staff, previews how China's efforts are likely to play out in its own "backyard:" theswath of Eurasia that includes South Asia, Central Asia, and the Middle East. Drawing from his extensive interviews, travels, and historical research, Markey describes how perceptions of China vary widely within states like Pakistan, Kazakhstan, and Iran.The region's powerful and privileged groups often expect to profit from their connections to China, while others fear commercial and political losses. Similarly, statesmen across Eurasia are scrambling to harness China's energy purchases, arms sales, and infrastructure investments as a means tooutdo their strategic competitors, like India and Saudi Arabia, while negotiating relations with Russia and America. On balance, Markey anticipates that China's deepening involvement will play to the advantage of regional strongmen and exacerbate the political tensions within and among Eurasianstates. To make the most of America's limited influence in China's backyard (and elsewhere), he argues that U.S. policymakers should pursue a selective and localized strategy to serve America's aims in Eurasia and to better compete with China over the long run.
Climate change represents an increasing threat to the continued development of the people, preservation of ecosystems, and economic growth of Asia and the Pacific. Mainstreaming climate risk management in all aspects of development is thus key to an effective transition to climate-resilient development pathways. ADB's climate risk management framework aims to reduce risks resulting from climate change to investment projects in Asia and the Pacific. A key step in this framework is the technical and economic valuation of climate-proofing measures. This report describes the conduct of the cost-benefit analysis of climate proofing investment projects. An important message is that the presence of uncertainty about climate change does not invalidate the conduct of the economic analysis of investment projects, nor does it require a new type of economic analysis. However, the presence of uncertainty does require a different type of decision-making process in which technical and economic expertise combine to present decision makers with the best possible information on the economic efficiency of alternative designs of investment projects.
The services sector is becoming a key driver of economic development in most members of the Central Asia Regional Economic Cooperation (CAREC) Program. This study underscores the potential for greater economic diversification through robust development of seven key services subsectors and industries that are critical for economies in the region to function and thrive. CAREC members also need to adopt a coherent and comprehensive approach to the balanced development of these interdependent services subsectors. Enabling conditions such as good governance, competitive markets, strong regional cooperation and integration, efficient labor markets, and high quality physical and digital infrastructure are crucial.