Increased Private Sector Competitiveness & Enterprise Development
Under Component 1, REG will undertake interventions that identify and strengthen agriculture and non-agriculture value chains on a regional basis, promote sectors regionally and internationally, improve workforce skills through standards and certification programs and further entrepreneurship training and services. Activities to strengthen regional value chains will include trade facilitation to ease the movement of goods and services, through dialogue between responsible public institutions and participation of the representatives of the private sector and, also, facilitating the simplification of necessary documentation. REG will also build the capacity of the private sector to effectively advocate for a business enabling environment that will increase the possibilities of intra-regional and international exports and growth. These efforts will also seek to improve governance, increase transparency and reduce corruption, thereby reinforcing governance objectives in the region.
Targeted value chains include:
IT – REG will take a dual focus of supporting advanced/later stage companies to compete in export markets, and early stage companies/ start-ups by strengthening business service providers in this sector.
Tourism – REG will work to improve service delivery in the tourism sector, create diverse regional tourism products, and move into higher value-added tourism segments.
Agribusiness/Food Processing – REG will work with specific, strategic products to improve quality standards, marketing, and the ability to move into higher value added products.
REG works to Improve the Business-Enabling Environment (BEE) through trade facilitation and advocacy in regulatory issues that affect the overall region. REG will work on capacity building with key partners in BEE/trade issues, as well as at the micro-level in sector-specific BEE issues.
REG works to Foster Entrepreneurship Training and Support Service by connecting entrepreneurs with funding sources through angel, seed, growth, and VC funds, and strengthen capacity of entrepreneurs by fostering competition between start-ups, as well as providing training to women and youth to build technical skills.