A 2007 study by the Asian Development Bank (ADB) identified the lack of macroeconomic stability, high costs of doing business, inadequate infrastructure, and weak investor confidence as the key binding constraints to sustained growth and poverty reduction in the Philippines.
Viet Nam’s rapid economic growth during 2000–2010 resulted in structural changes that transformed the country from being heavily dependent on agriculture to becoming more modern and industrialized. These changes in turn led to an increasing demand for a more educated and highly skilled workforce that meets the requirements of a rapidly growing economy.
With the rapid economic growth that has taken place in the People’s Republic of China (PRC) since the 1980s, vehicle ownership and demand for road transport infrastructure have substantially increased.
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