Positive roles/advantages/benefits/merits /need for industrialization in less developed countries
- Creates jobs in the country
- Promotes innovation, and technological advancement
- Leads development of infrastructures such as roads and power distribution.
- Promotes scientific research
- Provision of a wide range of commodities. The existence of both processing and manufacturing industries tend to produce diversity of products
- Increases government revenue through taxed to the firm and salaries of employees.
- Encourage development of skills such as managerial skills.
- Minimize rural—urban migrations especially those located in rural areas.
- Sources of foreign exchange from exports
- Provision markets to raw materials especially agricultural produces.
- Strengthening international relations due to free participation of foreigners.
CATEGORIES Economics
TAGS Dr. Bbosa Science
