This section looks at three countries which experienced successful growth fuelled in part by growth of the domestic private sector: Barbados (a “small island economy”), Dubai (an economy undergoing diversification) and Vietnam (a country “in transition”)

These stories are not intended to provide answers to the “what” and “how” of PSD, but rather to provide background understanding of diverse country experiences with economic growth and private sector development

Each country had different inherent capacities and resources prior to the onset of the described period of development. As a result, the development experience might best be replicated in other economies with similar ingredients. An important factor, which is hard to replicate, is visionary leadership among the rulers

In looking at domestic private sector development, summary insight is provided into the foundations of a country’s macro environment, its infrastructure, and rule of law, as the foundations on which the private sector develops. We then analyze conditions pertaining to the three pillars of entrepreneurship – access to financing, business services and skills, and the prevailing business environment

*Separate data for Dubai is not available but aggregated in the data for the United Arab Emirates
**These are the figures for the UAE as separate Dubai figures are not officially collected. UNCTAD officials state that in many cases reporting of FDI is inaccurate.