The Doha Programme of Action for the Least Developed Countries (DPoA) commits to promoting partnerships with the private sector to leverage in full their capacity for entrepreneurship, innovation, private finance, and investment which is vital for LDCs to achieve the Sustainable Development Goals and targets of the 2030 Agenda.
The Private Sector Forum at LDC5 will provide opportunities to build transformative partnerships and to mobilise long-term investment and finance to deliver on those ambitions. The Forum will take place on the margins of the Fifth UN Conference on the Least Developed Countries (LDC5) in Doha, Qatar from 5 to 7 March 2023.
Partnerships with the private sector play a key role in sustainable development. This can be done through promoting entrepreneurship, generating employment and investment and developing innovative technologies - all in support of enabling sustained, inclusive and equitable economic growth.
However, private investment in strategic sectors like sustainable agriculture, sustainable energy and telecommunications remains vastly insufficient in LDCs.
Foreign Direct Investment (FDI) has failed to reach the levels hoped for and has declined since the onset of the pandemic. Also, a large share of the FDI flows to LDCs are towards extractive industries.
Not enough jobs have been created – especially for young people.
For the Doha Programme of Action, decisive leadership and action is needed to accelerate investment in sectors that can unleash sustainable development, create jobs, spur economic growth and lift millions of people out of poverty. That is why the LDC5 Private Sector Forum aims to foster strong private sector collaboration and innovation to supercharge the development ambitions of the Least Developed Countries.