Companies vital to Africa's development, UN says
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| Under Secretary General of the United Nations Anwarul K. Chowdhury: "Companies can make a massive difference even with very small investments." |
Yaound¨, 31 October 2002 - In his address to the opening session of ICC's 3rd Africa Regional Meeting, Under Secretary General of the United Nations Anwarul K. Chowdhury has said companies have a vital role to play building the economies of least developed countries.
He told the meeting of 300 business and political leaders that private investment, from both overseas and local companies, provided the best hope for Africa's emerging economies.
"Individual companies can make sure that their investments build up local skills and create a vibrant network of suppliers, thereby contributing to long-term development, " he said. "They can show that offering decent working conditions is good for productivity, and that addressing the impact of HIV/AIDS is likewise essential for sustainable mar
kets and business.
"Companies can make a massive difference even with very small investments."
The 3rd ICC Africa Regional Meeting will examine how companies can contribute to the construction of viable African markets, as set out by NEPAD (New Partnership for African Development).
Government ministers from all over the region, including South Africa and Ghana, are meeting with World Bank officials, United Nations representatives and business leaders to discuss issues including foreign investment, combating AIDS in the workplace and reform of governance structures.
Under Secretary General Chowdhury said governments had a vital role to play in attracting investment.
"Sustainable business activities require an enabling environment, and governments have an important role to play in
building the necessary infrastructure, institutions and regulatory frameworks," he said.
He added that the meeting further strengthened the relationship between the United Nations and business.
"This meeting is a timely opportunity to focus on the special needs of Africa, "he said. "It is also a chance to strengthen still
further the partnerships between the United Nations and the business community in our common pursuit of economic and social
development and global corporate citizenship."