16 min.
The Transformative Power Of Industrial Policy In Africa- Part II Pan African Review
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Export-led industrial policy comes across to many as highly technical and complicated, including many well-versed global leaders and development practitioners. Yet actually it is a simple concept: it is merely the coordination of policies across governments to ensure the facilitation of investment in sectors that have the greatest potential to develop an economy by growing the number of value-adding, job-creating, foreign exchange-earning businesses. Whether Chilean wine, Vietnamese electronics, British textiles in the 1600s, Israeli agriculture or UAE’s tourism, these all required the coordination of enablers like energy, land, roads, market development, technology, investor facilitation and regulations.
Export-led industrial policy comes across to many as highly technical and complicated, including many well-versed global leaders and development practitioners. Yet actually it is a simple concept: it is merely the coordination of policies across governments to ensure the facilitation of investment in sectors that have the greatest potential to develop an economy by growing the number of value-adding, job-creating, foreign exchange-earning businesses. Whether Chilean wine, Vietnamese electronics, British textiles in the 1600s, Israeli agriculture or UAE’s tourism, these all required the coordination of enablers like energy, land, roads, market development, technology, investor facilitation and regulations.
16 min.