Unlocking Private Enterprise-Led Economic Growth

Unlocking private enterprise-led economic growth

“America's Indo-Pacific strategy offers our partners an enterprise-driven future—and private enterprise is after all the greatest [force] known to man for lifting lives and building communities.”
~ USAID Administrator Mark Green remarks on July 30, 2018, at the Indo-Pacific Business Forum

At USAID, we believe that private enterprise is the single most powerful force for lifting lives, strengthening communities, and accelerating partner country self-reliance.6 Incentivizing greater private sector investment helps unlock new financing streams—and greater choice of approaches and partners—for development.

To unlock enterprise-led growth, USAID helps advance reforms to governing laws, regulations and policies to ensure fair and open market competition and level the playing field for legitimate players—including the U.S. private sector—with a focus on driving their engagement in the development of infrastructure and the digital economy.

“In my line of work, we know all too well that adequate infrastructure is not only essential for accelerating economic growth, but it's also a prerequisite to achieving better health, education and other development outcomes.”
~ USAID Administrator Mark Green remarks on July 30, 2018, at the Indo-Pacific Business Forum

We work at the bilateral level and through regional platforms including the Asia-Pacific Economic Cooperation (APEC) forum and the Association of Southeast Asian Nations (ASEAN) to build partner capacity to increase regional economic connectivity and foreign direct investment.

USAID contributes to interagency initiatives announced by Secretary of State Michael Pompeo at the Indo-Pacific Business Forum in July 2018. These include the Infrastructure Transaction and Assistance Network, which enhances U.S. Government efforts to advance sustainable infrastructure in the Indo-Pacific, and the Digital Connectivity and Cybersecurity Partnership, which improves partners’ digital connectivity and expands opportunities for U.S. technology exports.

USAID brings extensive experience to the table. Our past achievements in this area include:

  • In Vietnam, USAID has assisted in rewriting over 180 commercial laws and regulations, contributing to a significant improvement in the country’s business enabling environment. Vietnam’s ‘ease of doing business’ ranking, as measured by the World Bank’s annual Doing Business report, has drastically improved over the past year—from 82 in 2017 to 68 in 2018.
  • In the Philippines, USAID has helped to advance reforms such as the Customs and Tariff Modernization Act, which streamlines cargo clearances, and the Philippine Competition Act, which regulates efficient and fair market competition—both key to leveling the playing field for U.S. businesses and contributing to the country’s economic growth.

Last updated: August 08, 2019

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