Rethinking the approach to enabling business environments and competitiveness

Governments should prioritise reforms that streamline administrative processes, simplify tax systems, and reduce barriers to entry for businesses.

Private sector investment remains a crucial driver of economic growth particularly in developing nations where growth has slowed in recent years, with many countries facing challenges such as inflation, supply chain disruptions, geopolitical tensions, high debt, and limited fiscal space.

According to the International Monetary Fund and the World Bank, private sector generates about 90 percent of jobs, 75 percent of investment, more than 70 percent of output, and over 80 percent of government revenues in developing economies.