Question

Write the functions of private sector.

Answer 1

• The main function of the private sector is to create innovation and modernization.
• The profit motive drives them to invent, innovate new techniques of production, and manage the productive activities in a scientific manner.
• Develop and maintain infrastructure and services.
• Promote and expand existing businesses.
• Promote human capital development to help vulnerable groups especially to participate in the labour market and encourage community business and cooperation, local exchange system.
• Promote small, micro, and medium enterprises through supply-side measures and demand-side measures and attract investment in the city.