Manufacturing and services account for 40 percent of developing countries' GDP and receive about 40 percent of total foreign direct investment. The sector is growing at about 9 percent a year, three times the rate in high-income countries. Driven by GDP and income growth, the demand for manufacturing and services in developing countries has risen significantly.
Within this arena, IFC focuses on key industries that form the foundation of sustainable growth and that provide affordable goods and services to consumers, create jobs, contribute to government revenue, and stimulate the growth of local small and medium enterprises. These sectors include construction materials, retail, tourism, and property, which support infrastructure development; pharmaceuticals, as part of ensuring affordable health care; and forest products and energy efficient machinery, to help address the impact of climate change.
