The 3Ps of Economic Growth 📈

What exactly are the 3 Ps of economic growth?

The 3Ps of economic growth are 3 key elements necessary to achieve sustainable growth and deliver enhanced opportunities for communities (K. Wilson, 2022)

1️⃣ Population 
A community with a larger population will have the potential to increase its output more than a community with a smaller population. But just because a community has a large population doesn't mean that it will automatically develop its economy. Healthy population growth requires inclusive institutions and fulfillment of basic human needs and rights (OECD, 2022).

2️⃣ Productivity
In economics, productivity refers to how much output can be produced with a given set of inputs. To raise productivity, four components must work together: innovation, education, efficiency, and infrastructure. Each requires contributions from the public and private sectors.

3️⃣ Partnerships
Partnerships and collaborations can lead to a broader range of opportunities and resources for participating communities. This can come in the form of alliances, technology transfer, diversifying partnerships, advocacy, cultural diplomacy, and trade agreements.

In this week’s edition of In the Loop, we share stories that show the importance of the 3Ps of economic growth — from how infrastructure development affects populations and productivity to examples of partnerships that contribute to greater economic activity.

THIS WEEK’S STORIES

🇰🇭 Lotus Green Team: Flourishing with Cambodia’s growing economy

🇵🇬  Australia, Japan, and Papua New Guinea: Allies in development

🇰🇿 Why is Kazakhstan Japan’s next goldmine?

COUNTRY SPOTLIGHT
Lotus Green Team: Flourishing with Cambodia’s growing economy

🇰🇭 PHNOM PENH, CAMBODIA — Because of prudent government policies and strong political leadership, Cambodia’s economy has strengthened over the last few years, with its GDP growing from 5.2% in 2022 to 5.8% as of this year. Interestingly enough, the robust economic activity is not fueled mostly by the export sector but by investment in infrastructure. Among the local companies benefitting from this construction boom is Phnom Penh-based engineering firm Lotus Green Team.

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Editor’s note: Sponsored content

FEATURE STORY
Australia, Japan and Papua New Guinea: Allies in development

🇵🇬 PORT MORESBY, PAPUA NEW GUINEA — The most populous country among the Pacific Island states, Papua New Guinea (PNG) needs to upgrade its existing infrastructure if it wants significant economic growth. Fortunately, one of its staunch supporters in this endeavor is nearby Australia, one of the world’s richest and most stable economies.

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COUNTRY SPOTLIGHT
Why is Kazakhstan Japan’s next goldmine?

🇰🇿 ASTANA, KAZAKHSTAN — Despite canceling his trip to Kazakhstan for what would have been a 4-day summit with leaders from five Central Asian countries after announcing his resignation, outgoing Japanese Prime Minister Fumio Kishida reaffirmed his country’s commitment to increase its investments in the region.

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Japan, with around 1,500 companies that have generated more than 150,000 jobs in the region, plays an integral part in the economy of the U.S. Midwest, widely known as the industrial heartland.

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