Capacity Building of the Trade Bodies to Boost Private Sector Development

Abstract

According to the Global Wealth Report 2019, the amount of global aggregate wealth is USD 360.6 trillion, which means per capita wealth is USD 70,850 and each living adult is supposed to have USD 70,850 of his own. Nobody should be poor; no hunger should be there around the world. But the reality is only 1% people own 45% wealth of the world and the top 10% people owns 82% of the global wealth. From macroeconomic perspective, the 16 wealthiest countries own the maximum wealth of this planet. This uneven distribution of wealth is not happening deliberately, there are many reasons for that. Social scientists, policy makers, government and development partners are trying to reduce this disparity and make a poverty-free, hunger-free world for us. To achieve this objective poverty alleviation is the number one target. This single target cannot be achieved by a single stakeholder i.e. government, private sector, development partners etc. United effort of all the stakeholders is required to achieve it. Private sector development is the easiest option to alleviate poverty and reduce social disparity. Making everyone economically rich is not possible but ensuring livelihoods and economic empowerment for all is essentially an achievable target. A country is developed when its private sector is developed. Economic development is essential for social security, safety net, better standard of living, good governance so on and so forth. Private sector development is also the number one objective of the government. Government is trying to formulate pro-private sector policies and facilitate private sector participation in decision making.