Private sector key in achieving new Sustainable Development Goals (SDGs)

In response to the recent media reports about the upcoming UN Summit in New York 27th -29th September 2015 at the UN headquarters, where world leaders are going to commit themselves to the new Sustainable Development Goals (SDGs) replacing the MDGs for the next 30 years (2015-2030), there should be an emphasis on how financially these goals should be achieved.

The role of the private sector has to be factored in as they are the engine to any development agenda the world over.

As we come close to this great gathering in our generation, many UN member states have had a rough road in achieving the MDGs and so it may be the same case with the SDGs if we under look the private sector.

The emergence of the new set of development goals may open a lot of opportunities to the private sector though they may not be achievable in many developing economies, unlike in the west, due to lack of interest as they see themselves as purely profit makers.

Commentators are calling upon governments to fully have the private sector in the planning process of the SDGs as this is key to investing in people.

SDGs that focus on environment, education, health and poverty, are interlinked with what many are doing in the developing world. In Uganda this is feasible from day one but through a coordinated mechanism led by the lead government MDAs and the UN in Uganda so that it’s not solely the work of the CSOs. A cluster on SDGs between government and the private sector must be formed as early as possible to ease the process of integration and funding of the SDGs.     

According to the UN, it is impossible to imagine coming close to achieving these goals, and the 14 others, without the private sector. With the sector accounting for 90 per cent of jobs in developing countries, and foreign investment outpacing development assistance four to one, business has a critical role to play in achieving the SDGs.

There is no implementing the SDGs in isolation hence any tangible outcomes will be measured only and only if the private sector gets involved unlike in the past during the MDGs framework.  “Good leadership, the right policies and sufficient investment are essential building blocks for unleashing the potential of the private sector as a driver of inclusive and sustainable industrialization. This requires taking account of the needs of large industries, as well as of micro, small and medium-sized enterprises.” Amb. Li Yong, Director General, UNIDO.

Uganda’s performance on some MDGs was superb but this has to be maintained or scaled in the next 30 years of the SDGs only if the private sector is encouraged to invest in the goals over the years.

There should be a reduced dependency on aid as a tool to finance the goals. A combination of factors in Uganda will lead to a clear roadmap of the 17 SDGs coupled with making sure the common man understands them but also being aligned to VISION 2040, hence then we shall say the country’s socio-economic transformation process is on track.

For this reason, working with government agencies like NPA, the Commonwealth Association-Uganda will be hosting a Social Good Summit at Kings College Budo on 29th Sept. 2015 to coincide with the UN Summit 2015 to making sure the youth fully get to know the SDGs with the theme #2030NOW as recommended by the UN Secretary General.

Executive Director Commonwealth Association-Uganda