Activating Private Sector Engagement (PSE) in International Development Cooperation: Demands and Insights from the Case of the United Nations
Year: 2024
Type: article
Abstract: With the diversification of development cooperation actors, the private sector participation has now become more important. However, private sector’s actual engagement in development cooperation projects remains limited. This study analyzes the factors that restrict private sector participation in development cooperation and proposes institutional improvements to enhance such participation. Data were collected from interviews conducted with key stakeholders in United Nations (UN) organizations, and a roundtable discussion was held to gather opinions from the UN, government, and private companies regarding systemic reforms to enhance Private Sector Engagement (PSE) in international development cooperation. The results of this study recognize the need for a forum and/or institutional platform where experts from the UN and private companies can exchange information. Additionally, customized strategies and institutional support should be provided according to the size and type of private companies. Finally, even in the project-planning stage, private companies should be given opportunities to participate and play the role of key joint implementation partners.
Authors: Yoonjung Hwang, Han Na Kim, Gahyung Kim, Sung-Sang Yoo
Language: English
Subfield: Development
Field: Social Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405258475