Private Sector Development

Efforts to develop the private sector aim to promote economic advancement in developing countries. Growth in the private sector leads to more employment opportunities and thus poverty reduction. Improved business performance in the private sector and increased trade and investment lead to an increase in national tax revenues, which enables public sectors to offer a higher level of services, encompassing education, healthcare and medical services as well as social welfare programs. The biggest challenges are to develop industry using local resources and boost industrial competitiveness to confront intensifying international competition.