Triangle to spur growth

Triangle to spur growth

MANILA (AFP): A growth triangle encompassing contiguous areas of Indonesia, Malaysia and Thailand can generate US$15 billion to $20 billion in business opportunities, the Asian Development Bank (ADB) said yesterday.

This estimate was reached following an ADB-financed study by 30 experts, identifying almost 100 projects, programs and policies required to develop the triangle in the next 10 years, the Philippine-based ADB said in a statement.

This proposed growth triangle would include North Sumatra and Aceh in Indonesia, the northern states of Kedah, Perak, Penang and Perlis in Malaysia and the southern provinces of Satun, Songkhla, Yala, Narathiwat and Pattani in Thailand.

The ADB study identified five areas for possible cooperation within the triangle -- trade, investment and labor mobility, transportation and communications, agriculture, fisheries, industry and energy and tourism.

However, the study also found certain policies and programs must be in place before the growth triangle can be created and that financing from bilateral and multilateral agencies as well as private investors, would be required.