At BIAC’s (Business and Industry Advisory Committee to the OECD) annual consultation with OECD (Organization for Economic Cooperation and Development) Ambassadors, BIAC’s chair Phil O’Reilly presented the private sector’s growth agenda for 2015, focusing on investment, innovation, and entrepreneurship.
“Considering the uneven recovery of OECD economies and serious imbalances in world markets, private sector-led growth has to be a top priority”, said O’Reilly.
Presenting the three pillars of the private sector’s growth agenda for 2015: Investment, Innovation and Entrepreneurship, O’Reilly added that: “Theagenda for growth can only succeed if there is trust. Trust in business, trust in governments, and trust in the OECD. More needs to be done by all of these parties to show that, with the right conditions in place, business can be a dynamic force for the success of our economies and the wellbeing of citizens.”
Economies rely on private sector business activities and competitive markets. With the right conditions in place, business can be a dynamic force for the success of our economies and the wellbeing of citizens, investing in people, jobs, technologies and infrastructures, serving billions of consumers daily, and paying taxes that supply government spending and support public services.
BIAC is therefore calling upon the OECD to:
- Address protectionism in global markets and build an enabling environment for investment, at local levels and across borders;
- Deliver advice for integrated policies across sectors that foster innovation and support sustainable growth and employment in the digital economy;
- Establish a better understanding of the potential of SMEs and entrepreneurship, with due focus on less and smart regulation, skills, access to finance, and women’s entrepreneurship.