Private Sector Development Clause Samples
The Private Sector Development clause outlines the obligations and initiatives aimed at fostering growth and participation of private businesses within a particular project or agreement. Typically, this clause may require parties to support local entrepreneurship, facilitate access to financing, or encourage technology transfer to private entities. Its core practical function is to stimulate economic activity and innovation by ensuring that private sector actors are actively involved and benefit from the arrangement, thereby promoting sustainable development and reducing reliance on public sector resources.
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Private Sector Development. 1. The Parties, recognising the importance of private sector development for economic transformation and job creation, shall aim to promote entrepreneurship and to develop and improve the competitiveness of enterprises. A particular focus shall be given to MSMEs, including start-ups, particularly through the promotion of enabling legal, administrative and institutional frameworks, with a view to their successful integration into sustainable supply and value chains. Attention shall also be paid to the informal sector and to upgrading informal economic activities into formal ones and to encouraging the integration of sustainability-related objectives in business models. The Parties further agree to support the development of entrepreneurship among women and youth in the context of their economic empowerment and the promotion of inclusive development. They affirm the importance of building regional and national capacities in order to improve competitiveness in medium and high-tech manufacturing.
2. The Parties shall promote public-private sector dialogue and cooperation, including through private-sector business forums. They shall strengthen cooperation for cross-fertilisation of experiences and dissemination of best practices that ▇▇▇▇▇▇ entrepreneurship, promote business-to-business dialogue and contacts, and stimulate transfers of skills and technology.
3. The Parties agree on the need to set up strategies and to develop better financial inclusion policies and appropriate legislation, and to improve access to finance and to financial and non-financial services, including through innovative financing mechanisms, with particular attention to the provision of affordable credit for family farmers, smallholders, MSMEs, women and youth entrepreneurs.
4. The Parties acknowledge that both public and private sources of finance play a key role in supporting private sector development, particularly through tools and mechanisms such as public-private partnerships (PPP) and blended finance, and in stimulating investment across relevant sectors, including infrastructure development. Accordingly, they shall cooperate to develop transparent and predictable frameworks and strategies for the use of PPPs including strengthening institutional capabilities to negotiate, implement and monitor projects under a PPP arrangement.
Private Sector Development. 1. The Parties shall promote and strengthen the role of the private sector as an effective drive of sustainable development based on corporate social responsibility and responsible business conduct. They shall provide an enabling environment to unlock the potential of opportunity-driven entrepreneurship and to better harness Africa’s entrepreneurial base, combining a mix of tools such as financing, services and training, business culture and regulatory frameworks, innovation and the application of modern technologies. They shall pay particular attention to the informal sector and the formalisation of informal economic activities.
2. The Parties shall establish the right business framework and support MSMEs and start-ups to seize growth opportunities, including by promoting initiatives for their internationalisation. They shall strengthen MSME support services by focusing on accompanying measures, market access, capacity building and business upgrading. They shall promote and support innovation and entrepreneurship, especially among youth and women.
3. The Parties shall support structured dialogue between African and EU private sectors and cooperation between African and EU SMEs to help create an improved business environment enabling growth in all economic sectors.
4. The Parties shall promote private sector commitment and action on green business development and the circular economy, including through the development of social entrepreneurship and the facilitation of access to sustainable finance.
5. The Parties shall encourage and facilitate wider use of their respective currencies in their international transactions.
Private Sector Development. 1. The Parties shall support the development of a dynamic, competitive and responsible private sector, including through the adoption of the necessary policies and economic, institutional and legislative reforms at national and/or regional levels. They shall take measures to strengthen and improve private sector productivity and efficiency. They shall pay special attention to the growth and improved competitiveness of MSMEs, to business incubators and to the development of cottage industries.
2. The Parties shall seize the opportunities of technological progress and the digital economy. They shall endeavour to mobilise investment in support of research and innovation, and the digital economy, and to encourage the private sector to boost digitalisation, in particular in terms of investments, innovation, market knowledge, access and expertise.
3. The Parties shall promote industrial development with a view to the achievement of sustainable economic growth. They shall adopt targeted policies aimed at facilitating industrial growth and opportunities, notably through the creation of linkages and value- adding activities, including small-scale industries. They shall encourage the development of appropriate technologies and processes and the diversification of niche products. They shall develop and implement strategies that build regional and national capacity for competitiveness in medium- and high-tech manufacturing and exports.
4. The Parties shall support increased resource-use efficiency and the adoption of cleaner and more environmentally sound technologies and industrial processes. They shall effectively address all forms of pollution resulting from economic activities, including through a clear definition of responsibilities and their attribution to the industry and business operators throughout the supply chain, on the basis of the extended producer responsibility principle and the polluter pays principle.
Private Sector Development. The Recipient has made progress in completing its process of implementing strategies and streamlining procedures to arrive at a comprehensive, fast, and user-friendly land registry.
Private Sector Development. United States grant assist- ance under subsection (a) of this section shall be made available in accordance with the plan described in sub- section (c) of this section to support the efforts of the Government of the Federated States of Micronesia to attract foreign investment and increase indigenous business activity by vitalizing the commercial environ- ment, ensuring fair and equitable application of the law, promoting adherence to core labor standards, maintaining progress toward privatization of state- owned and partially state-owned enterprises, and engaging in other reforms.
Private Sector Development. The Recipient finalized its national public-private partnership (PPP) policy to facilitate public-private partnerships in all sectors, and the PPP bill was approved by the Recipient’s parliament.
Private Sector Development. (i) Provision of business development services to SMEs and individual entrepreneurs.
(ii) Support towards the establishment and operation of business incubators for small firms and individual entrepreneurs.
(iii) Establishment and operation of a line(s) of credit that shall provide microfinance loans to Beneficiaries through the eligible MFI(s).
Private Sector Development. Working with partners such as the Pacific Horticulture and Agriculture Market Access (PHAMA) Plus program, Market Development Facility and other agri-business and entrepreneurship programs (e.g. Strongim Bisnis) for returning workers; and
Private Sector Development. (a) Leveling of the treatment of enterprises by unifying the corporate tax rate at 28% irrespective of the nature of their ownership.
(b) Strengthening of the administration of intellectual property rights by designating NOIP as the central point for treatment of trademarks and intellectual property rights.
(c) Issuance of a decree improving the legal framework for the organization, operation and management of business associations.
Private Sector Development. The United States assignments will be made available in accordance with the plan described in subsection (d) of this Section in order to support the efforts of the Government of the Free Associated State of Puerto Rico of developing local commercial and industrial activity, community enterprises, cooperatives, housing, tourism, the attraction of foreign investment, and the promotion of research, development, and innovation.