AFBC NEWS : 29th Jul 2016

The 2016 Pacific Update Conference

“Inclusive growth for enhanced resilience”

— By Kontiki Stockbroking Limited

The 2016 Pacific Update Conference took place in Suva on 18-19th July. The annual event gathered policymakers, academics and researchers, business people, and development practitioners to discuss economic, political, and social developments in the region.

You can learn more about the speakers and presentations here.

Kontiki Stockbroking Limited released a newsletter following the update with a summary on the Asian Development Bank Reports and Loans below.

The Pacific Update Conference is an annual event that brings together policy-makers, academics and researchers, the private sector, and development practitioners to discuss policy issues that are significant in Pacific countries. This year’s event was hosted by University of the South Pacific (USP) at the Laucala campus in Suva. It’s sponsored by the Asian Development Bank (ADB) in collaboration with the ADB institute, the Australian National University’s Development Policy Centre and USP.

As part of the ADB’s “knowledge solutions” effort to advance development in Fiji, ADB in partnership with the Fiji government released two reports; The Country Diagnostic Study (CDS) and The Employment Diagnostic Study (EDS). The prior aims to point out specific constraints to sustained and inclusive growth whilst the latter is concentrated on the labour market underpinned with the goal of employment creation and the improvement of work quality.

Vice president for ADB’s knowledge and sustainable development, Bambang Susantono says that "the creation of quality employment is crucial to a country's sustained and long-term development. It is also a key pillar of the ADB's inclusive growth framework.”

CDS pointed out four constraints to inclusive growth; regulatory requirements in which private businesses expect to operate, particularly those related to registering, starting and operating a business; investments gaps in transport and communications infrastructure; institutional and policy constraints, such as difficulties in accessing productive assets; and lack of skilled labour force to meet the requirements of a modern thriving economy.

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