Abstract
In the last years of the 20th century, world economies moved towards greater economic freedom and openness within the framework of changing and reducing the role of the state in economic affairs, stimulating the role of the private sector, removing restrictions on foreign trade and supporting local and international competitors. In the context of the search for sources of economic growth and policies that improve it in the long term, private sector development activities have begun to appear on the scene in recent years as a necessary component to achieve the development goals of the new millennium in emerging markets. The importance of private sector development is to support economic growth, create jobs, reduce the number of poor and help people improve their living conditions. Without the dynamic power of private initiative organized by competitive markets, people will remain poor. The development of the private sector does not mean arbitrary privatization, but rather a reorientation of the role of the state to pave the way for and support free enterprise. When the private and public sectors complement each other, the desired economic development will be achieved.
Published Version
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