Private Sector Development Forum

Presentations for the morning sessions if available are posted by speaker - click on their name. If not, please request a copy by writing to ESaintfort@ifc.org.

RAISING THE STAKES: NEW FRONTIERS FOR THE PRIVATE SECTOR IN DEVELOPMENT

The pace of private sector investment in developing nations has never been greater, providing enormous opportunities to tap new markets, create jobs, reduce poverty, and address environmental and social issues. It is generally accepted by governments and civil society that the private sector is the dynamic engine of growth and poverty alleviation. However, along with this growing recognition, there are now societal expectations that the private sector has a positive role to contribute beyond just growth, and can bring this same spirit of leadership, initiative, and innovation to influence broader social, environment, and human rights issues. Increasingly, private, public, and nonprofit partners are joining forces. Today, more than ever, good corporate citizenship is tied to the bottom line. Six leading experts and practitioners discussed the opportunities for the global private sector to help create social value and improve the climate for private enterprise in developing countries.

Panelists:

Yong Li, Vice Minister, Ministry of Finance, China

Yoshihiko Miyauchi, Chairman and Chief Executive Officer, ORIX Corporation, Japan

Nandan Nilekana, Chief Executive Officer, Infosys Technologies Limited, India

C. K. Prahalad, Professor, Stephen Ross School of Business, University of Michigan, United States

Lars Thunell, Executive Vice President, International Finance Corporation, World Bank Group

Heidemarie Wieczorek-Zeul, Minister of Economic Co-operation and Development, Germany

Moderator:

Martin Wolf, Associate Editor, The Financial Times, United Kingdom

Organizer:

Ann Pasco, Corporate Relations, IFC, World Bank Group

CHECKS AND BALANCES: CORPORATE GOVERNANCE REFORMS IN EMERGING MARKETS

Leading corporate governance experts and practitioners shared their perspectives on recent reforms of the rules and processes for the governance and control of private sector companies globally. New empirical evidence was presented on recent trends in the quality of corporate governance of firms worldwide, and on the relationship between corporate governance and measures of corporate sector performance and stability. Future steps towards enhancing the impact of good governance was discussed from the perspectives of regulators, institutional investors, and chief executive officers.

Panelists:

Laura Kodres, Advisor, Research Department, International Monetary Fund

José Alberto Vélez, Chief Executive Officer, Cementos Argos, Colombia

Lian Sim Yeo, Executive Vice President and Head of Risk Management and Regulation, Singapore Exchange Limited

Moderator:

Teresa Barger, Director, Corporate Governance Department, IFC

Organizers:

Gianni de Nicolo, Research Department, International Monetary Fund Luc Laeven, Research Department, International Monetary Fund;

Ann Pasco, Corporate Relations, IFC

DOING BUSINESS: HOW TO REFORM IN 2007

The latest findings from the new 2007: Doing Business How to Reform,the fourth in a series of annual reports investigating regulations that enhance business activity and those that constrain it, will be presented. Co-sponsored by the World Bank and the International Finance Corporation (IFC), the report measures quantitative indicators on business regulations and their enforcement across 175 economies - from Afghanistan to Zimbabwe - and over time. This year's Doing Business report updates indicators developed in three preceding reports: starting a business; dealing with licenses; hiring and firing; registering property; getting credit; protecting investors; trading across borders; paying taxes; enforcing contracts; and closing a business. The indicators are used to analyze economic and social outcomes such as informality, corruption, unemployment, and poverty. The annually published reports give policymakers the ability to benchmark regulatory performance and learn from best practices globally. This year's Doing Business report focuses on reforms and identifies top reformers in business regulations and best practices in how to reform. Key questions addressed included: Which economies have most improved their performance on the ease of doing business, and which economies have made doing business harder? What can policymakers learn from successful and failed reforms of business regulations in other countries? How can the Doing Business project be used to help improve the business environment in your country?

Panelists:

Francisco Gil Díaz, Minister of Finance, Mexico

Zurab Nogaideli, Prime Minister, Georgia

Moderator:

Michael Klein, Vice President and Chief Economist, IFC, World Bank Group

Organizers:

Simeon Djankov; Monetary, Analysis and Policy, IFC; World Bank Group

ADDING DEPTH AND EXPANDING ACCESS: MAKING FINANCE WORK IN AFRICA

Deeper and more efficient financial markets with wider outreach will be key for meeting Africa's growth challenges. Africa's financial sectors are showing signs of strengthening but remain shallower than those in other low income regions, and offer a narrower range of services. Only a small fraction of households and individuals have access to formal financial services. Lending activities by banks concentrate on governments and large exporters, while the rural sector and small and medium enterprises remain all but excluded from domestic credit. Nevertheless, significant developments are taking place in some countries. A group of distinguished policymakers and private sector experts discussed how key constraints to better financial services in Africa are being overcome by reviewing notable examples of policy reform and of innovative business practices that have shown promise. Key questions addressed included: What are the most important obstacles to deeper financial intermediation in Africa? What feasible policy reforms should be prioritized? What business strategies offer new profit opportunities for African banks? How promising is recent experience by African intermediaries with technological innovations in payments, depository, insurance, and lending? What are the respective roles of private financiers, official and NGO donors, and national governments in helping ensure solid and sustainable progress?

Panelists:

Craig Bond, Managing Director, Stanbic Africa, South Africa

Anne Krueger, former First Deputy Managing Director, International Monetary Fund

Michel Losembe, Managing Director, Citigroup Country Office, Democratic Republic of the Congo

Charles Soludo, Governor, Central Bank of Nigeria, Nigeria

Moderators:

Donald Kaberuka, President, African Development Bank Group

Organizers:

Anne-Marie Gulde, African Department, International Monetary Fund

Antony Thompson, Africa Region, World Bank Group