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Forum on Boosting Private Sector's Role in Development Aid Takes Place in Busan

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2011-12-01

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Boosting the role of the private sector in the global development process is one of the main issues at the Fourth High Level Forum on Aid Effectiveness in Busan.
Around 200 representatives from governments‚ international organizations and the business sector gathered for the Private Sector Forum on Wednesday for an in-depth discussion on the role of the private sector in improving the effectiveness of development aid.
[Interview : Ban Ki-moon‚ Secretary-General
United Nations] "When countries are affected by violence and the absence of the rule of law‚ business can and must be a messenger of peace. Business decisions related to investment‚ employment‚ relations with local communities‚ and protection for local environments can help a country overcome conflict‚ or can make tensions even worse."
The UN chief said while governments have to set the stage for effective aid‚ the private sector and civil society can help deliver.
Representatives from the private sector were invited to share their success stories on how to do business and simultaneously contribute to the global and local development agenda.
[Interview : Huh Chang-soo‚ Chairman
Federation of Korean Industries] "One company in Korea launched a 2‚700 kilometer long cable installation project in Rwanda‚ in 2010‚ which led to the employment of 870-thousand local residents. I hope for more of such success stories."
The participants called on the private sector to engage more actively in development aid by fostering trust and opening markets‚ thus creating a more supportive business environment.
They added that today's poor may be tomorrow's prospering markets.
[Reporter : Hwang Sung-hee
ssung86@arirang.co.kr] "Suggestions made at the forum will be presented at the ministerial-level session on Thursday and are expected to become a building block for shaping the role of the private sector in development aid.
Hwang Sung-hee‚ Arirang News‚ Busan."
Reporter : ssung86@arirang.co.kr

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