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Economic Development & Growth
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Requirements for development
1. Desire for economic development Gov must create incentives for enterprise. Changes in culture & religious & social practices may need to change. Political leadership and fostering of drive enthusiasm and entrepreneurial spirit.
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2. Education Gov needs to spend more on education & training.
Primary: Create a literate & numerate population. Secondary: Train people in basic skills and trades. 3rd Level: Train people in professions.
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3. Capital Attract foreign investment.
Increase incomes to encourage saving. Saving = investment.
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