Establishing new industries

Risking starting new industries

Description

Establishing new industries involves initiating and developing sectors that address unmet economic, social, or technological needs. This strategy aims to diversify economies, create employment, and stimulate innovation by mobilizing resources, fostering entrepreneurship, and facilitating investment. It remedies problems such as economic stagnation, unemployment, and overreliance on declining sectors by introducing sustainable production bases, encouraging skill development, and enhancing competitiveness in global markets through targeted support and infrastructure development.