Stakeholders discuss the role of Private Sector in Poverty Reduction
Various stakeholders across sectors came together in a roundtable discussion to discuss the role of the Private Sector in poverty reduction. The workshop which took place in Dar-es-Salaam gathered stakeholders from development partners’ institutions, private sector, NGOs, government and the media.It was organized by VSO International in partnership with CIDA, the BG Group, British Council and CUSO International.
The main focus of the discussion was reflecting on how practically the challenges of greater collaboration can be overcome to realize the huge potential benefits. The key presenters during this discussion were representatives from Donor partners, Private sector, civil society and Government.
UNDP-Tanzania country Director Mr Philippe Poinsot was also invited to this discussion as one of the main key presenters. During his presentation he explained that human development progress is best advanced by growth which its fruits are broadly shared and job-rich something which requires smart public policy which will help to create positive enabling environment for growth in all important sectors.
He insisted that the private sector has a critical role to play in fostering inclusive growth, but its business models can be positive for development when they open up opportunities for local entrepreneurs.’’In this case UNDP works alongside government partners and the private sector in helping them to connect local, national, and global actors, and identify approaches which will create value for businesses and advance MDG progress’’ added Mr Philippe.
In the context of Private sector development the director further added that UNDP is willing to support successful projects that demonstrate sustainable impact through one or more of its five priority areas of its private sector strategy which are Provision of policy advice and capacity-building, Integration of local producers, Facilitation of private sector investments, Promotion of small-scale entrepreneurship and Corporate Social Responsibility.
For their part, other participants noted that the private sector would contributed to poverty reduction if only it engaged in inclusive innovations and allowed the society to be involved in decision making.