For the economy to flourish and the least developed countries to catch up to the west industrially, it is crucial to have a good base. And for that you need reliable infrastructure, to further industrialization and to encourage innovation- thus we have this goal. The pandemic has hit every aspect of society hard, among them the global value chains, which affects the most vulnerable the hardest. While global investment in research and development has increased, manufacturing has gone down even before the pandemic.
There are five targets:
- Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on equitable and affordable access for all
- Promote inclusive and sustainable industrialization and significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in the least developed countries
- Increase the access to small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets
- Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities
- Enhance scientific research, upgrade technological capabilities of industrial sectors in all countries, in particular developing countries, including encouraging innovation and substantially increasing the number of research and development workers per 1 million people and public and private research and development spending
What does it mean and what can we do?
This is also a fairly straightforward goal, which aims to promote industrialization and pays extra attention to the least developed countries. It also aims to increase research and development, but never forgetting to also include sustainability.
Once again, the access to financial services are explicitly mentioned, which only points to the severity of that problem in certain parts of the world..