Advocacy for Increased Private Sector Participation

Local Economic Development (LED) is a bottom-up approach to sustainable economic empowerment, growth, and development. The goal is to harness wealth creation through the generation of employment, and improve quality of life through activities in and by communities, districts and regions for the benefit of residents.

The success of LED initiatives in developed economies is attributable to deliberate actions taken through integrated strategic partnerships between public sector, private sector, community-based organizations, NGO’s, and donor organizations.

The success of LED initiatives therefore is contingent on a deep understanding of the concept, and tied to a vision with a global outlook, supported by a comprehensive inclusive strategy that takes cognizance of and utilizes the strengths of the various relevant sectors which must be involved.

Objectives

The overall objective is to create a climate for increased, sustainable private sector inclusion in Local Economic Development.

What we want to achieve:

• Clear, agreed roles among actors
• Incentives to attract sustained Private Sector participation
• Harness sustainable collaboration, information sharing and strategic linkages among actors.
• A legal framework to support Private-Sector commitments