Industrial Development UNIDO Report
Industrial Development UNIDO Report
The 2024 Industrial Development Report (IDR24) by the United Nations Industrial Development Organization (UNIDO) assesses global progress on industry-related Sustainable Development Goals (SDGs), focusing on the role of industrial policy in navigating global challenges and achieving sustainable solutions.
The report highlights:
The world faces a “polycrisis” of shocks (COVID-19, conflicts, climate change) that hinder SDG progress, especially in developing countries.
Four megatrends (energy transition, 4IR, global rebalancing, demographic shifts) are reshaping production and consumption, offering both challenges and opportunities.
Industrialization is key to accelerating SDG progress, with direct and indirect impacts on economic growth, job creation, innovation, poverty reduction and environmental goals.
A new generation of industrial policies is needed to harness these megatrends and turn challenges into opportunities for sustainable industrial development.
The report provides region-specific assessments and policy examples for Africa, Asia-Pacific, Eastern Europe, and Latin America and the Caribbean.
Key takeaways for each region:
Africa: Requires targeted investments in energy access, leveraging its natural resources for clean energy production, attracting relocating FDI, and promoting industries with high demand, such as food processing.
Asia-Pacific: Leads in 4IR technologies and digitalization, with opportunities in green hydrogen production, electric mobility, and sustainable fisheries.
Eastern Europe: Possesses solid foundations in energy access, employment, and infrastructure, but needs to prioritize innovation, economic growth, and clean energy.
Latin America and the Caribbean: Faces challenges with economic growth and job creation due to premature deindustrialization, requiring policies to attract FDI, promote innovation, and support the energy transition.
The IDR24 emphasizes the importance of strong government capabilities, adequate financing, and societal consensus for successful industrial policy implementation. It also calls for international solidarity and cooperation to support developing countries in achieving sustainable industrialization.
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