Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance

The Democratic Republic of Congo (DRC) is endowed with natural resources, in particular for mineral development, and its large agricultural potential is still untapped, having also a considerable percentage of the world's hydroelectric potenti...

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Main Author: World Bank
Format: Other Public Sector Study
Language:English
en_US
Published: Washington, DC 2013
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2004/03/3051512/congo-democratic-republic-reforming-public-enterprises-through-improved-governance
http://hdl.handle.net/10986/14715
id okr-10986-14715
recordtype oai_dc
spelling okr-10986-147152021-04-23T14:03:17Z Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance World Bank PRIVATE SECTOR DEVELOPMENT BUSINESS ENVIRONMENT PUBLIC ENTERPRISES SECTORAL ASSESSMENT TRANSITIONAL ECONOMY POLITICAL FACTORS LIBERALIZATION ECONOMIC STABILIZATION ECONOMIC REFORM STRUCTURAL ADJUSTMENT TRADE DEVELOPMENT PRICE POLICY FINANCIAL ADMINISTRATION FISCAL PRESSURES REGULATORY FRAMEWORK GOVERNANCE APPROACH PERFORMANCE INDICATORS POLICY FRAMEWORK TRADE UNION STRATEGIES THIRD PARTIES ENTERPRISE RESTRUCTURING DIVESTMENT POLICY The Democratic Republic of Congo (DRC) is endowed with natural resources, in particular for mineral development, and its large agricultural potential is still untapped, having also a considerable percentage of the world's hydroelectric potential. Yet DRC's socioeconomic indicators place the country as among the most deprived in the world. This study first reviews the country's agriculture and infrastructure sectors, to set the grounds for an inclusive private sector. It specifies the private sector has been crowded by the public enterprises taking over the economy, public enterprises which have developed outside their core business, in unrelated activities. These public enterprises are virtually bankrupt with inefficient and loss generating processes, imposing significant fiscal pressures on the state. On reviewing the political transition, the liberalization and stabilization of the economy, as well as restoration of the basis for economic growth, has proved a far-reaching program. Economic, and structural reforms included the areas of trade and prices, financial and business environment, as well as public enterprise reform. The Congolese context, with its history of mismanagement of the public enterprises, and lack of regulatory framework, requires improved governance and performance of companies. In the context of a strategy, public enterprise reform is being implemented within new sectoral policies, through a decision-making process supported by trade unions and independent third parties. These actions should lead to adopting restructuring, and divesting strategies. 2013-07-31T21:42:43Z 2013-07-31T21:42:43Z 2004-03-10 http://documents.worldbank.org/curated/en/2004/03/3051512/congo-democratic-republic-reforming-public-enterprises-through-improved-governance http://hdl.handle.net/10986/14715 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work Africa Congo, Democratic Republic of
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic PRIVATE SECTOR DEVELOPMENT
BUSINESS ENVIRONMENT
PUBLIC ENTERPRISES
SECTORAL ASSESSMENT
TRANSITIONAL ECONOMY
POLITICAL FACTORS
LIBERALIZATION
ECONOMIC STABILIZATION
ECONOMIC REFORM
STRUCTURAL ADJUSTMENT
TRADE DEVELOPMENT
PRICE POLICY
FINANCIAL ADMINISTRATION
FISCAL PRESSURES
REGULATORY FRAMEWORK
GOVERNANCE APPROACH
PERFORMANCE INDICATORS
POLICY FRAMEWORK
TRADE UNION STRATEGIES
THIRD PARTIES
ENTERPRISE RESTRUCTURING
DIVESTMENT POLICY
spellingShingle PRIVATE SECTOR DEVELOPMENT
BUSINESS ENVIRONMENT
PUBLIC ENTERPRISES
SECTORAL ASSESSMENT
TRANSITIONAL ECONOMY
POLITICAL FACTORS
LIBERALIZATION
ECONOMIC STABILIZATION
ECONOMIC REFORM
STRUCTURAL ADJUSTMENT
TRADE DEVELOPMENT
PRICE POLICY
FINANCIAL ADMINISTRATION
FISCAL PRESSURES
REGULATORY FRAMEWORK
GOVERNANCE APPROACH
PERFORMANCE INDICATORS
POLICY FRAMEWORK
TRADE UNION STRATEGIES
THIRD PARTIES
ENTERPRISE RESTRUCTURING
DIVESTMENT POLICY
World Bank
Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
geographic_facet Africa
Congo, Democratic Republic of
description The Democratic Republic of Congo (DRC) is endowed with natural resources, in particular for mineral development, and its large agricultural potential is still untapped, having also a considerable percentage of the world's hydroelectric potential. Yet DRC's socioeconomic indicators place the country as among the most deprived in the world. This study first reviews the country's agriculture and infrastructure sectors, to set the grounds for an inclusive private sector. It specifies the private sector has been crowded by the public enterprises taking over the economy, public enterprises which have developed outside their core business, in unrelated activities. These public enterprises are virtually bankrupt with inefficient and loss generating processes, imposing significant fiscal pressures on the state. On reviewing the political transition, the liberalization and stabilization of the economy, as well as restoration of the basis for economic growth, has proved a far-reaching program. Economic, and structural reforms included the areas of trade and prices, financial and business environment, as well as public enterprise reform. The Congolese context, with its history of mismanagement of the public enterprises, and lack of regulatory framework, requires improved governance and performance of companies. In the context of a strategy, public enterprise reform is being implemented within new sectoral policies, through a decision-making process supported by trade unions and independent third parties. These actions should lead to adopting restructuring, and divesting strategies.
format Economic & Sector Work :: Other Public Sector Study
author World Bank
author_facet World Bank
author_sort World Bank
title Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
title_short Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
title_full Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
title_fullStr Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
title_full_unstemmed Democratic Republic of Congo : Reforming Public Enterprises through Improved Governance
title_sort democratic republic of congo : reforming public enterprises through improved governance
publisher Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2004/03/3051512/congo-democratic-republic-reforming-public-enterprises-through-improved-governance
http://hdl.handle.net/10986/14715
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