8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES Session II: High-level panel on “ Industrial Policy Instruments and Strategies ”
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES Industrial Policy & Structural Transformation Industrial policy plays a key role in the structural • transformation of modern industrial economies. Government interventions through policy instruments • are necessary to complement the benefits of market forces for inclusive and sustainable industrial development (ISID). Through its analytical and policy advisory services, • UNIDO provides Member States with necessary tools to shape appropriate industrial strategies and policies.
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES The Need for Industrial Policies and Strategies in LDCs • To guide the shift from low to high productivity sectors with factors of production moving accordingly. • To address low manufacturing value-added, technology and digital skills gaps, environmental challenges, vulnerability to external shocks, shifted donor priorities, low levels of FDI and blended financing. • Lack of leadership and ownership, weak institutional capacity, and insufficient private-public sector dialogue could result in flawed policy choices.
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES UNIDO’s Approach for Industrial Policy towards ISID UNIDO provides support to diagnosis, design, implementation and evaluation stages of policy development, through capacity development, technical advice and facilitation throughout the process. UNIDO interventions can be described in four phases: ▪ Phase I. Raising awareness and building the skills base; ▪ Phase II. Setting up national intelligence units; ▪ Phase III. Monitoring and evaluation system for industrial policy; ▪ Phase IV. Enhancing the policy ecosystem.
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES UNIDO Industrial Policy Projects • Central African Economic and Monetary Community ( CEMAC ): diagnostic assessments of the industrial sector and the institutional capacities of each of the countries. • Cambodia: Support the government by strengthening industrial capacity, to monitor and implement its Industrial Development Policy (IDP) 2015-2025. • Tanzania: UNIDO is collaborating with Zanzibar to develop a Zanzibar-specific policy for industrial development.
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES In summary, we need to continue: Develop and implement industrial policies in a country-specific • context; Strengthen industrial governance for monitoring and • implementation; Enhance skills and capabilities of policy-makers and civil servants; • Facilitate private sector participation in formulation and • implementation of industrial policy; UNIDO: strengthen the analytical foundation of the Programme for • Country Partnership (PCP), the UNIDO tool to support countries achieving ISID, through delivering country diagnostic.
8 TH MINISTERIAL CONFERENCE OF THE LEAST DEVELOPED COUNTRIES Thank you.
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