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PublicationCreating Markets In Honduras: Fostering Private Sector Development for a Resilient and Inclusive Economy - Country Private Sector Diagnostic(Washington, DC, 2022-05) International Finance CorporationHonduras has significant investment potential, with ample productive resources, a solid industrial base, a market-oriented reform agenda, a strategic location with access to many international markets, and a growing labor force. The country’s young and growing population is yielding a demographic dividend, which presents new opportunities for economic growth and diversification, especially in the service sectors such as business-process outsourcing (BPO) and in development of digital financial services (DFS). Honduras’s rich endowment of resources and improving business climate have attracted rising levels of private investment, and the country achieved the second highest tradeto-GDP ratio in the Latin America and the Caribbean region prior to COVID-19 crisis. However, large-scale investment and trade have yet to generate rapid economic growth and robust poverty reduction. The public and private sectors will both play vital roles in Honduras’s economic recovery. Ongoing targeted support will be necessary to address the health and humanitarian consequences of the pandemic, mitigate the resulting increase in poverty and inequality, and support the resumption of economic activity. This Country Private Sector Diagnostic (CPSD) is designed to help guide Honduras’s private sector development agenda in this challenging and rapidly evolving context. PublicationCreating Markets in Vietnam: Bolstering the Private Sector During COVID-19 and Beyond - Relief, Restructuring, and Resilient Recovery(World Bank, Washington, DC:, 2021-09) World Bank; International Finance CorporationThe objective of the Vietnam Country Private Sector Diagnostic (CPSD) is to examine opportunities and challenges, both cross-sector and sector-specific, to strengthen private sector development and facilitate investments in Vietnam. The CPSD is closely aligned with the government’s strategic priorities (as outlined in Vietnam’s Socio- Economic Development Strategy [SEDS] 2021-2030 and the Vietnam 2035 report) and World Bank Group policy priorities and programs (WBG Vietnam Country Partnership Framework [CPF] FY18–FY22 and IFC’s Vietnam Country Strategy 2020–22). The CPSD relies on multiple data resources, including knowledge from the literature (including sectoral studies) and from World Bank Group staff, enterprise surveys, high frequency/ real-time data generated by private firms, and interviews and consultations with the private sector, Vietnamese authorities, and other external stakeholders. PublicationCreating Markets in Pakistan: Bolstering the Private Sector(International Finance Corporation, Washington, DC, 2021-05) International Finance Corporation; World BankThis Country Private Sector Diagnostic (CPSD) analyzes and synthesizes cross-cutting and sectoral impediments to private sector development in Pakistan. It also proposes a policy reform agenda that would be transformational for the growth and competitiveness of the private sector. It complements the World Bank’s Systematic Country Diagnostic (SCD, 2020) and aims to contribute to the national dialogue by focusing specifically on private sector issues. The Pakistan@100 body of work is the base and it draws on recent thematic World Bank reports and consultations with business leaders and public officials. Technical solutions to Pakistan’s institutional constraints and policy distortions are readily available, but the implementation of these solutions requires committed political leadership. This has proven hard to muster in Pakistan’s young and noisy democracy. Successive administrations have been humbled by vocal public opposition or internal resistance to change influenced by special interest groups. Maintaining political stability has been challenging with frequent transfers of power between civilian and military administrations. The devolution of powers to the provinces and local governments has resulted in an institutional footprint with sometimes overlapping or unclear mandates that give rise to uncertainty for businesses. The question is therefore what it would take for Pakistan’s policymakers—and its elites and informal decision makers—to step up to address the multitude of issues as Pakistan falls behind its peers. Or, in other words, what would enable the government to break the economy’s many sub-optimal equilibria.