By Josephine Akaerr
The United Nations Industrial Development Organization (UNIDO) has published Industrialization as the Driver of Sustained Prosperity, a book focusing on how industrialization not only contributes to economic growth and infrastructure upgrading, but can also support the achievement of the Sustainable Development Goals(SDGs) through the creation of jobs, improvements in working conditions, innovation, and the development of new and greener production technologies.
Industrialization as the Driver of Sustained Prosperity was drafted under the editorial supervision of UNIDO Director General LI Yong. On the publication of the book, Li notes that the COVID-19 pandemic has evolved into a major economic crisis and led to the loss of employment and incomes with a risk of reversing the progress the world has achieved on SDGs since 2015.
Li said, “To ignite the engine of recovery and build a better future, this book provides information for governments and policymakers on feasible industrial policy options that can help to achieve inclusive and sustainable industrial development. This is done by looking at individual country experiences at different points in time, selected case studies from various manufacturing industries, and examples of successful industrial policy governance packages.”
In the foreword, Li writes, “Successful industrialization is not simply about choosing the right policy instruments and institutions, but also about learning how to effectively build, use and coordinate them,” adding, “Taking all these elements into consideration, this book offers useful guidance for governments of developing countries and for international organizations alike on the fundamental features of the industrial policy formulation and implementation process.”