Enhancing the role of the private sector essay

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PWS refers to the network and/or one or more of its member firms, each of which is a separate legal entity. 7 September 2014 2 Background Astrakhan is embarking on a program of prevarication, accordingly the Government of Astrakhan is now developing proposals which will help to: Identify the companies with government links that should be included in the prevarication program; – Adopt principles and guidelines for ‘Yellow Pages rule” suitable for implementation in Astrakhan. PWS has undertaken a brief study of relevant international experiences to aid the policy makers of Astrakhan in their decision making process. 7 September 2014 3 Rationale for chosen case studies Singapore rapid economic success despite its constraints in terms of natural resources and land; vibrant private sector contributing to economic progress and development; SF invests on commercial basis, over time divested out of non-core and non-strategic sectors. 4 Norway the majority revenues come from natural resources, with an emphasis on oil and gas; SF with a clear mandate; adopting an ownership strategy to reduce state ownership. 5 Key Lessons from Case Studies State ownership strategy should be clear, intentional and transparent.

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State ownership in state-owned enterprises should continually be evaluated. Government business should retain commercial discipline and be professionally run. The investment strategy of the sovereign wealth fund should be clear and transparent and adopt a long-term view. Public procurement policies and procedures can help promote private sector participation. 6 Sound regulatory and legal frameworks. 7 The attraction, nurturing and retention of top-tier talent. 8 Multi-stakeholder collaboration is key for sustainable and inclusive growth.

Key questions addressed include: 1 How to create a level playing field between the state and private sector . How to provide opportunities for all enterprises to have a fair chance to succeed 3. How to establish and maintain the strategic interest of the SF and the state in investments 4. How to stimulate an innovative and sustainable economy by growing small- and-medium enterprises (Seems) and public-private partnerships (Peps) PWS Summary of Key findings How to create a level playing field between the state and private sector Government businesses should aim to achieve a commercial rate of return.

Regulatory neutrality relating to the general business environment and arrest regulations. Debt neutrality (the avoidance of concessionary financing of Goes). Public procurement policies and procedures should be competitive, non-discriminatory and transparent. The state should not set up enterprises to provide services that the private sector can provide. How to provide opportunities for all enterprises to have a fair chance to Strengthening the competitive climate via comprehensive and fair competition rules. Having a talent incubator to avoid brain drain. Strong CEO system of enabling industries which include CIT, financial arrives, energy, engineering and professional business management services. Summary of Key findings (2) How to establish and maintain the strategic interest of the SF and the state in investments Public sector organizations should focus on their core mission. Clear governance frameworks. The state should set a clear investment strategy and process for its SF. There should be a clear strategy governing state ownership decisions. Periodic review of the government’s or Swab’s assets and interests.

Investing in strong and independent boards of the state-owned enterprise. How to stimulate an innovative and sustainable economy by growing Seems and Pap’s Business friendly environment and ecosystem is key to facilitate the setting up of Seems. Favorable legal and regulatory framework that supports the country’s key industries. Promoting a culture of entrepreneurship. Internationalization. Conducive APP policy framework and supportive public procurement framework that stimulates private investment. Outsource functions to the private sector as far as possible where there are no security and confidentiality concerns.

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