The objective of the session was to bring together a group of regional and international leaders
from the public and private sector on issues regarding Business Climate and have a
brainstorming session to share innovate ideas on the set of reforms that could have the most
impact on enhancing private sector led economic growth.
Key messages to the participants
Business climate reform measures are very important to promote investment and private sectorled growth. Reforms take time and commitment from both public and private officials. PublicPrivate Dialogue and advocacy must be strong at both the member state and regional level.
Third country experiences, like Panama and Peru, can be used as best practices
There must be a coherent regional approach to attract Foreign Direct Investment (FDI)
opportunities that are available from investors of developed and emerging economies.
A preliminary assessment of the actionable areas and issues to be addressed at the
regional/national levels must be conducted and a solid action plan must be developed.
Key take-aways from the participants' interaction
Public-Private Dialogue is possible, but it requires strong leadership and commitment.
Partnership is imperative, but it must have the power to call for change.
Governments need to be proactive and held accountable to implement the key reforms in a timely
manner. The Private Sector has a strong role to play and must be vigilant in ensuring that
Governments effect change.
The region must find a way to increase its visibility and promotion as an ideal location for
investments, while reforms are being implemented at the national level. The region must
prioritize; it cannot be a piece meal approach.