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Publication(Washington, DC, 2005-01) World BankThe objective of the Lesotho Investment Climate Assessment (ICA) is to evaluate the investment climate in Lesotho in all its operational dimensions and promote policies to strengthen the private sector. By comparing the investment climate in Lesotho to investment climates in other countries, it is possible to observe areas were Lesotho performs relatively well and others were improvements is necessary if Lesotho is to continue to grow. The primary source for the assessment is a firm level survey (investment climate survey or ICS) which was completed towards the end of 2004. About 110 firms in three sectors of the economy (manufacturing, construction and tourism) were interviewed. The information collected during the survey is supplemented with results from other studies conducted by the Bank and other donor agencies and the Government of Lesotho. In this study, the investment climate in Lesotho is compared other countries, particularly attention is given to China and India because they are important competitors in Lesotho's main export market, the garment sector. Chapter 5, attempts to provide key recommendations to assist the Government in addressing current weakness and improving environment for a faster and more diversified economic growth.
Publication(Washington, DC, 2001-06-21) World BankThe report first reviews macroeconomic aspects in Ghana, identifying that much of the non-traditional exports' expansion, reflects sporadic foreign investments in key agro-processing activities - which enjoy preferential treatment in European markets - but, its value-added seems at best marginal, questioning its sustainability, should preferences be removed. Besides compliance with a growing number of European Union regulations on environmental, and food safety standards, Ghana will need to create a favorable business environment to attract foreign investment, and raise competitiveness of exporting firms. The study then analyzes microeconomic competitiveness, through four case studies on natural resource-based exports; efficient import substitution, and expansion into regional markets; labor-intensive, light manufactures and services; and, culture and arts manufactures. Constraints identified by exporters are industry specific, while, main cross-cutting issues, relate to the trade regime, and the provision of infrastructure. Findings of this report suggest that an export strategy for a country at Ghana's stage of development, should be based on two basic principles: maximizing the returns to current comparative advantage; and, over time, "catalizing" export diversification towards more sophisticated sources of advantage.