Manuel Albaladejo on the key elements for the successful implementation of inclusive and sustainable industrialization Inclusive and sustainable industrial development (ISID) is at the core of Sustainable Development Goal number 9: build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation. Strategies and policy instruments to boost ISID are not new and can be broadly classified into two groups: macro-economic and industryspecific. While broad macro-economic policy instruments provide the foundations for industrialization, ISID strategies place an emphasis on industryspecific instruments, including technology and innovation, investment in manufacturing, skills, industrial financing, infrastructure and competition policy. Mainstreaming ISID in national policies calls for governments to have a sound understanding of the relationships, synergies and trade-offs of industryspecific strategies and policy instruments leading to economic growth, social inclusiveness and environmental sustainability. On the basis of this broad vision, ISID strategies should guide governments in defining the policy mix to achieve this three-dimension goal. Conceptually ISID makes a lot of developmental sense. However, many developing countries, particularly least
MANUEL ALBALADEJO is an industrial economist working for the Research and Industrial Policy Advice Division of the United Nations Industrial Development Organization (UNIDO). He joined UNIDO in 2007 and has led the programme on strategic industrial intelligence and governance implemented in several countries, including Vietnam. Before joining UNIDO, he worked at the World Bank in Indonesia as a private sector development and trade specialist.
Published on Sep 8, 2016
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