Achieving the UN Sustainable Development Goals by 2030 is estimated to require $4 trillion per year. Global development assistance accounts for just 3.5% of this figure. Enduring change in development contexts cannot take place without the transformative power of the private sector.
A handful of states receiving development assistance have a clear vision for how to transform themselves for the benefit of their citizens but do not have the level of international investment and industry commitment needed to do so.
These Emerging States possess the attributes necessary to attract and benefit from transformative investment: an accepted political settlement; a sufficiently mature economy; an articulated vision for growth; and a commitment to inclusive socio-economic development.
Emerging States receive development driven technical support and funding to strengthen their institutions and to increase local private sector growth. However, the challenge of evolving a detailed understanding and engagement strategy for international investors and industry is often neglected.
Without this, international investors remain understandably cautious. For Emerging States to attract international private sector investment proportionate to the opportunities they offer, normal market forces are insufficient without specialist intervention.