ADB: Public-Private Partnerships Key to Central Asia's Growth

Public-private partnerships can be a crucial tool in driving economic growth in Central Asia, according to the Asian Development Bank.

“Private sector participation could be a catalyst to removing the challenges in the region by bringing capital, management, and technology to infrastructure rehabilitation and modernization within the countries, and across their national borders,” ADB Vice-President (Operations 1) Xiaoyu Zhao said during the Business Development Forum on Central Asia held July 28-29 in Shanghai, China.

The forum, which is part of the Central Asia Regional Economic Cooperation program, showcased trade and investment opportunities in the region and the mechanisms needed to tap them.

ADB Vice-President (Operations 2) Lawrence Greenwood said during the forum that beefing up trade plays an indispensable role in the region’s private sector-led growth strategies and requires close collaboration among CAREC members.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.