"The Philippines finalized on Monday the implementing rules and regulations for Southeast Asia's first and most comprehensive Renewable Energy Law. The measure comes almost two years after President Arroyo signed the Biofuels Act, making the Philippines at the forefront of climate change legislation and renewable energy development among Asian countries. The law, which took almost 20 years to enact, will enable the country to attain 60 percent energy self-sufficiency by 2010.

Renewable energy will be good for rural communities which cannot be reached by the larger power generators and distributors. Since most rural communities are poor, renewable energy will help alleviate poverty. Today, households spend as much as 20 percent of their monthly income on electricity. Industries spend anywhere from eight percent to 15 percent of their total manufacturing on electricity. Electricity in the Philippines is the highest-priced in Asia."

"Currency swap arrangements between East Asian countries could provide foundations to help build stronger and deeper regional integration on the road to a unified market similar to that of the EU, experts say. The agreement signed by East Asian finance ministers in Bali earlier this month could offer a breakthrough and become a stepping stone towards East Asian regional cooperation, eventually moving towards market integration.

These swap arrangements give real substance to the ASEAN+3 process which for many years has had no clear institutional framework in sight. East Asia could eventually forge a deeper cooperation and adopt a single currency. If that happened, it would create a more balanced world, no longer dominated by the US dollar. Ultimately, economic integration through monetary union would improve the welfare of the people, through trade and investment, financial integration and coordinated crisis management."

"Rural Bangladesh is facing something of a healthcare crisis. State-run facilities there are facing acute shortages of doctors, nurses and technicians, and many people resort to traditional healers as a result. There is a huge disparity between the number of healthcare personnel in urban and rural areas. In almost all rural areas -- home to over 85 percent of the population -- there are large numbers of medical vacancies. Of the 90,000 public healthcare personnel positions in the country, 18,000 are currently vacant, including the posts of about 5,500 doctors.

Bangladesh has about 48,000 registered doctors to serve its 145 million people. Absenteeism plagues rural healthcare centers. The problem is not confined to the lack of personnel and equipment. People living in remote areas with poor transport links have a lower chance of surviving if they get seriously ill. The shifting river islands, locally known as 'chars', are the hardest places to get government doctors to go. Most do not have a qualified physician or health centers."

"China on Monday issued guidelines to encourage private capital spending in key state-controlled sectors, in what analysts saw as a recognition by Beijing of the need for the private sector to supplement the government's 4 trillion yuan ($586 billion) infrastructure investment drive. The structural problems that have been building up in China's economy for quite some time have become more acute with domestic growth slowing and the world economy yet to bottom out, according to the National Development and Reform Commission, the country's top economic planning agency.

Beijing will work out policies to spur private investment in areas that are dominated by the state such as oil, railways, telecommunications, power and urban public infrastructure. The government reaffirmed the central bank's policy of pushing ahead with interest rate reform and improving the way the yuan's exchange rate is determined."

"Cambodia has an 'urgent' need to invest in education and health to further grow its economy and reduce poverty, a United Nations economist said at the launch of a report on Monday. Cambodia is ranked near the bottom among southeast Asian countries in terms of competitiveness. It also finished last in regional higher education training scores while 40 percent of its population does not even finish primary school. Some 30 percent of the country's 14 million people live on less than 50 cents a day.

Lax rules and regulations have caused investors from the United States, Europe and Japan to shy away from setting up operations in the country. Cambodia is potentially losing out on huge amounts of foreign direct investment. Cambodia enjoyed several years of double-digit economic growth until last year, but has seen sharp declines in garment exports and tourism -- its two key industries -- because of the global financial crisis."

"While the rest of the world reels from the global economic crisis, China is using its deep pockets to bolster its position in strategically vital Central Asia, analysts say. In recent months Beijing has been on a spending spree among the Central Asian states to its west, handing over a $10 billion loan to cash-strapped Kazakhstan in April and stepping up construction projects and investment from Ashgabat to Bishkek.

Experts say the recent Chinese splurge is part of a long-term strategy for the region. For nearly two decades Beijing has shown special interest in using its pocketbook to secure stability along its Central Asian border, funding infrastructure projects and investing in key sectors. Multi-million dollar infrastructure projects in Tajikistan and Kyrgyzstan are prime examples of China's strategy. Electrification and road projects improving the quality of life in these impoverished regions make them less likely to spawn extremists, but also open up their markets to Chinese goods -- a win-win situation for Beijing."

"Economists say Korea should assume an active role in integrating East Asia and advocating the interests of the region on a global stage. Asia's fourth largest economy can play a mediator role, promoting relations with ASEAN economies for stronger regional economic cooperation and help Japan and China mend fences for the benefit of all of East Asia.

The Korean government said on Monday it would play an active role in integrating East Asia into a single economic bloc. Early this month, Korea, China, Japan and 10 ASEAN nations agreed to establish a $120-billion Asia Joint Fund under the Chiang Mai Initiative, boosting financial cooperation in the region. The fund is a bilateral currency swap scheme created to help prevent a disaster similar to the one generated by the 1997-98 Asian financial crisis. Korea will commit a total of $19.2 billion to the regional fund, or 16 percent."

"The civilian population of Malakand District in Pakistan's North-West Frontier Province are facing severe consequences from recent military operations. There are already disturbing signs of the tough road ahead for the Internally Displaced Persons (IDPs). The IDPs fear hardship and hunger as crops spoil in untended fields, with aid agencies warning that it could take years for farmers to recover. Wheat, maize and vegetables -- subsistence crops for Malakand's poor farmers -- are all set to rot and deal another devastating blow to the region's economy.

The problem is that the inability to harvest the crop will not only leave the people wholly reliant on food aid, but they will also be unable to earn any money to pay for the resources needed to sow the next crop. After the implosion of the tourism economy in the country's northwest, the latest blow to the other main source of subsistence for the region's population has for all intents and purposes created an economic void."

"China is emerging as fertile ground for green investment, with the government supporting the growth of a green economy. As part of the country's 4 trillion ($586 billion) stimulus package, the National Development and Reform Commission will put $30 billion into green projects. Now China is planning to draft another stimulus package to double the nation's 2007 output of alternative energy by 2020.

The nation's solar power capacity may rise to 10 million kilowatts by 2020, helped by government subsidies. But, there are still some voices questioning the feasibility of the new target. Battery storage from solar power is still years away from being perfected, and economically, solar power is four times more expensive than China's conventional energy source of coal."

"Some economic observers argue that recession is less likely to affect the Asian economy, partly because of its orientation towards agriculture and partly because of sound financial management systems. Bangladesh unveiled a 34.24 billion taka ($489 million) stimulus plan on April 19 to tackle the global economic meltdown. The objective is to stimulate local productive sectors to create local demands and generate employment.

The forthcoming 2010 budget is expected to bolster the domestic economy, creating employment to accommodate the jobless laborers -- including expatriates. The keynote of the budget will be a public-private partnership project (PPP). Supported by increased financial aid from ADB, PPP could provide extra strength to the rescue operation of the state with its stimulus package."

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