Private Sector Development

Project Background

UNDP's Private Sector Development Programme focuses on creating an enabling environment for promoting the private sector through trade and investment. In collaboration with other partners, an extensive review of the operating environment for the private sector has been carried out to identify its constraints and challenges. In an effort to build the capacity of the Ministry of Trade and Industry (MTI) as the lead government institution responsible for policy formulation, support is provided for planning and research as part of a broad-based institutional capacity building effort. This support has played a pivotal role in strengthening MTI’s capacity to engage on international trade issues and private sector development.

Project Objectives

Improve capacity for Private Sector Development through trade policy formulation, investment promotion, and increased national participation in global trade and investment activities.

Project Outcome

One key outcome is the organization of an Investment Forum on Trade and Investment Opportunities in Sierra Leone. Sierra Leone is also fully engaged in the Integrated Framework (IF) process, a multi-agency, multi-donor programme to promote the integration of the Lesser Developed Countries into the global economy through trade. Through this initiative, Sierra Leone has already conducted a Diagnostic Trade Integration Study for trade-related technical assistance. A draft action matrix has been developed to implement a programme for addressing the impediments to private sector development.

In partnership with the United Nations Industrial Development Organisation (UNIDO), the programme also addresses capacity building for indigenous small to medium-sized enterprises to create opportunities for self-employment and income generation, particularly among youths. This initiative is supported through growth centres, under the supervision of UNIDO and MTI. Promoting public-private partnerships through consultations and dialogue is also a key component of the programme. In addition, support is provided for strengthening the capacity of the Chamber of Commerce and the Sierra Leone Indigenous Business Association.

Links with Millennium Development Goals (MDGs)

Goal 1: Eradicate Extreme Poverty and Hunger