Firms want investors to tackle poverty

More than 650 companies have called for ‘substantial private investment’ in the world’s poorest countries, seeking a bigger role for business in third world development.

The companies produced a statement after meeting at a United Nations conference in Istanbul on development.

They say they are ‘convinced’ the private sector ‘can establish conducive business environments’ in the world’s 48 least developed countries, which  receive less than two per cent of global investment and include Ethiopia and Somalia.