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Improve Quality Of Growth, A Challenge: Taoi

The biggest challenge for policy makers is to improve the quality of growth, says Fiji National University’s National Training and Productivity Centre acting director, Peni Taoi. This is apart from
17 Nov 2016 11:00
Improve Quality Of Growth, A Challenge: Taoi
Fiji National University’s National Training and Productivity Centre acting director, Peni Taoi with participants during the Asian Productivity Workshop at Novotel Nadi yesterday. Photo: WAISEA NASOKIA.

The biggest challenge for policy makers is to improve the quality of growth, says Fiji National University’s National Training and Productivity Centre acting director, Peni Taoi.

This is apart from ensuring sustained and robust economic growth by resolving macreconomics challenges, Mr Taoi said yesterday during the opening of their centre and and Asian Productivity Organisation (APO) workshop.

The three-day workshop is on Policies Impacting National Productivity Growth in APO Member countries held at the Novotel Hotel, Nadi.

This workshop will assist in developing a framework to access the impact of innovation policies on productivity growth.

Mr Taoi said policy makers would need to undertake measures to improve quality of this growth by critically addressing some social and environmental challenges.

It also includes the declining trends in labour and total factor productivity.

Mr Taoi added the slowdown in economic growth is adversely affecting the prospects for employment and its quality.

“A key factor shaping weak employment rates in the region, he said is the lower labour force participation.

“This is partly resulting from young people staying longer in school before entering the job market.”

He added given the declining trend in productivity growth and its relationship with the Sustainable Development Goals, countries in the region would benefit tremendously.

This can be done by focusing on policies that foster growth in productivity.

“Doing so would facilitate the pursuit of Sustainable Development Goals as well as improve the prospects for economic growth.

“Also there should be policies to strengthen the role of agriculture and industry, particularly through rural industrialisation.”

According to Mr Taoi, various social policies can contribute to increase productivity for reviving economic growth and supporting sustainable development.

“For instance, policies that increase the share of labour in national income are important to strengthen domestic demand,” he added.

“Other policy tools include minimum wage policy, greater social protection and social transfers that could support collective demand during times of cries, as well as public employment guarantees.”

There are 18 international, six local participants, three international resource persons and an APO programme officer attending this workshop.

EDITED BY: FARZANA NISHA

Feedback:  waisean@fijisun.com.fj



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