UNIDO seeks mobilization of industrial firms for 2030 agenda’s implementation

To implement the 2030 agenda of an inclusive and sustainable industrialization, the United Nations Industrial Development Organization (UNIDO) has emphasized the need to engage the private sector, especially small businesses and industrial firms to inspire innovative solutions to global needs.

According to UNIDO, engaging the private sector, especially SMEs and industries is also important to reach such a challenging goal.

The Director General of UNIDO, LI Yong underlined the importance of partnerships, including with the private sector, for achieving the 2030 Agenda for Sustainable Development.

“Inclusive and sustainable industrialization can serve as a powerful tool that will help end poverty and create job opportunities, especially for young people and women.

“Engaging the private sector, especially SMEs and industries is also important. To reach such a challenging goal, it is necessary to create multi-stakeholder partnerships”, he added.

Li also emphasized the role of inclusive and sustainable industrial development in eradicating poverty, as well as in job creation and wealth generation.

Indeed, ways for the public and private sectors to accelerate sustainable development were the focus of a discussion at the yearly European Development Days (EDD) in Brussels.

The EDD bring together the development community to share ideas and experiences in ways that inspire new partnerships and innovative solutions to the world’s most pressing challenges.

Specifically, the forum noted that trillions of dollars will be neededyearly to achieve the 2030 Agenda objectives and both national and international public funds are unable to cover the requirements. Consequently, countries will be looking to attract additional private financing to help drive economic growth and industrial development as a basis for poverty reduction while protecting natural resources. The private sector will therefore play a pivotal role in the goal of achieving sustainable development for all.