Staff Reporter
PRESIDENT Nangolo Mbumba has called on private sector leaders to contribute to the achievement of the United Nations (UN) Sustainable Development Goals (SDGs), stressing the need for public-private partnerships to finance key transitions and foster innovation in global cooperation.
“We need leaders from the private sector to step up and accelerate action on the Sustainable Development Goals. We need partnerships with the private sector to help finance key transitions and to bring innovation in international cooperation,” the president said.
President Mbumba made these remarks at the Private Sector Forum on the Summit of the Future in New York, United States. The Summit of the Future saw the adoption of the Pact for the Future, which President Mbumba presided over and described as crucial for advancing the 2030 Agenda and fast-tracking SDG implementation.
“The adoption of the Pact for the Future is an ambitious document through which leaders reaffirmed their commitment to building a stronger, more networked, and inclusive multilateral system. The Pact highlights prominent issues related to international peace and security, digital technology, sustainable development, and financing for development, which are key to effectively responding to global challenges facing the world today, while having the potential to make the world fit for the 21st century and serving as a beacon of hope for current and future generations,” he explained.
The president added that, while the recently adopted Pact for the Future sets the political tone, its successful implementation does not rest solely on the actions of governments but also on the private sector.
“Without the involvement of the private sector, sustainable development will remain an elusive goal. Investors and the private sector offer much-needed capital and skills that are necessary to augment national development priorities,” he explained.
He emphasised that the private sector plays a pivotal role in employment creation, advancement of technology, provision of essential infrastructure, and innovation, which are key enablers for sustainable development.
“We will continue to rely on the indispensable contributions of the business community and the private sector. Governments have a responsibility to create conducive policy and regulatory environments to attract and facilitate private sector investment in projects that are aligned with government priorities in order to boost economic growth and achieve inclusive sustainable development,” President Mbumba added.
