Common use of Private Sector Development Clause in Contracts

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. 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- 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.