An important step was taken in 1992 when the Commission produced a document entitled 'The Community Position on Investment Protection Principles in ACP States'. This was approved by the EU Member States in November of that year. Another part of the strategy has been to try and boost EU investments in ACP countries. A special effort has also been made to put enterprise promotion and development at the heart of our work. Entrepreneurship has long been recognised as a key factor in the development process.
Entrepreneurs innovate and assume risks.
They hire and manage labour forces, open up markets and find new combinations of materials, processes and products. And they initiate change and facilitate adjustment in dynamic economies. These enterprises create jobs with a relatively modest investment and thus make an important contribution to the daily life of countries where they are situated. There is a heavy emphasis in the programmes on improving quality and developing local capacities. It was decided, at the outset, that the approach should be an integrated one, carried out in proper sequence.