Common use of Private Sector Development Clause in Contracts

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. 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.

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. Particular 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, 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.