Sunday, February 9, 2014

Canada – 6th largest donor at the African Development Bank!


My interview with Mr. Montador, published in The Rising Africa magazine, 2012

For a while Bruce Montador was our man in Tunis: from 2007 to 2011, he represented Canada at the African Development Bank as an Executive Director. Having travelled to 28 countries in Africa either for work or fun, he shared his thorough Africa-insights with The Rising Africa.

First of all, how does the development work of AfDB differ from the one of World Bank (and the planned development bank by the BRICs)?

The AfDB has fewer resources than the World Bank has for the African region, so it needs to focus. It tries to limit its programming to a relatively few areas – infrastructure, private sector, governance and higher education. Infrastructure is critical, particularly for things like electricity, regional integration and water. The private sector is taking off – there are ever more references to Africa in the mainstream business press, but there are still many challenges facing both African and foreign entrepreneurs.
It is hard to comment on the proposed BRICs development bank, since as far as I know it is not yet operational. There is a tendency to announce projects like that without them ever doing very much for a range of practical reasons.

How does Canada participate and finance the bank? Is the contribution from Canada growing or the opposite?
Canada supports the Bank in two ways. As a shareholder, Canada’s capital pledges allow the Bank to borrow at good rates on the market, to on-lend to middle income countries and the private sector. As one of the few remaining AAA credits, Canada’s pledge is important to the Bank, particularly since Canada is already a big shareholder for our size (about 10 percent of the non-regional share).

Moreover, during the financial crisis, there was a need to increase the Bank's capital, and the temporary pledge of capital Canada made at the Pittsburgh G-20 meeting in 2009 allowed the Bank to continue to serve its members.
The other way we, Canadians support the Bank is through the budgetary grants to the African Development Fund to allow for loans and grants to low-income countries and for regional public goods. We currently give 108.5 million dollars a year – it will be up for renegotiation next year for the cycle starting in 2014. We are the 6th largest donor, and our contribution has grown with each replenishment.

Canada is seen as an important partner – though for African Development Fund, the big players are really the Europeans – the UK, Germany and France. Canada also supports some multi-donor trust funds that do additional work – in areas like preparatory work for regional infrastructure projects and water, and for Aid for Trade.

What can Canadian companies and NGOs do to benefit from the AfBD? Please share recommendations...
Canadian consulting companies do quite well from AfDB contracts. Firms that are interested should be in touch with the Embassy in Tunis, which can help keep them informed of opportunities. Companies with bigger investment interests should check with the Bank's private sector department to see if there are possible synergies. Some NGOs may find consulting opportunities, and some of the thematic trust funds, like the Congo Basin Forest Fund, have approved projects from Canadian NGOs. AfDB does not do as much outreach to NGOs as at the World Bank, in part because NGOs have not typically paid a lot of attention to the AfDB.

What are the trends affecting the AfBD and how does it affect Canadian companies and NGOs?
The AfDB is bolstered by the growing Afro-optimism, and companies and NGOs will see growing opportunities. However, the tight fiscal environment in donor countries will probably limit growth of the concessional window, the AfDF, and thus limit growth in the Bank Group's operations in least developed countries. There may be fewer Bank contracts available in traditional areas of health and basic education. Finally, there will probably be more competition from African firms in the markets for Bank procurement.

Can you share your personal opinion on Africa’s development; say from 2007 to 2011, on the example of one or two countries of your choice?

Since my work in AfDB largely coincided with the financial crisis – I can say that Africa was doing quite well before the crisis, and was not directly touched by the financial crisis. The only country that was really integrated into the international financial system, South Africa, has a sound banking system. However, like Canada, the continent was adversely affected by the economic downturn created by the financial crisis in the US and Europe.
In addition, the nervousness of international lenders led them to pull back from marginal markets with which they were less familiar, a description which basically fit the whole of Africa. 

Fortunately, the relatively rapid recovery in Asia, and in commodity prices, as well as a return of Asian investors looking to secure supplies of commodities, helped Africa to get back on to a solid growth path relatively quickly.
That is an overview, obviously situations vary. A country like Ghana, where governance and economic reforms were well underway, and where new oil production is adding to growth, is a very positive story. Tunisia, where political uncertainty has devastated the tourist sector, has actually not done badly in terms of sustaining exports despite the weakness in the euro-zone, its main market. The East African Community has been showing fairly solid growth, based on resources but also the gains from growing integration.

Professor of economics at the London School of Economics and Political Science Alwyn Young has claimed in his research paper ‘The African growth miracle that Sub-Saharan living standards (as measured in ownership of durable goods, the quality of housing, the health and mortality of children, the education of youth and the allocation of female time in the household) have been growing three and a half to four times the rate indicated in international data sets.

It is an interesting analysis, and not inconsistent with the AfDB's estimates of a larger African middle class than might be expected.  However, it is still important to recognize that many of those people emerging from poverty are still relatively vulnerable; the trend is positive, but there is a long way to go. This of course also means that there is lots of scope for further strong growth.

In your view, is it justified to compare North African countries with Sub-Saharan countries – or should the stats and analysis be always separated, as two very different entities?

From the political perspective of African countries and the African Union, it is all of Africa that is the frame of reference. Obviously there are cultural and economic differences between North Africa and Sub-Saharan Africa but I don’t know if looking at the Middle East and North Africa together is a better framework. There are lots of differences between the Maghreb and the Mashreq.

We in CCAfrica often make country-based overviews of development (so called Monthly African Indicators), but perhaps there are other units (cities, nationality, culture etc) which would tell a better story?

With 54 countries the indicators become a sea of data, but the cities, cultures etc are open to interpretation. I would suggest looking at the five broad regions – North Africa, East Africa, Southern Africa, Central Africa and West Africa. There are one or two countries whose allocation is controversial or in flux, but broadly this approach produces relatively homogeneous (or less heterogeneous!) subsets. One story to tell in this context would be the relative success of regional integration in the different areas – best in East Africa and weakest, so far, in North Africa.
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“Africa is not a monolithic entity”




An interview with the CEO of CCC, published in 2012 in the Rising Africa magazine

The President and CEO of the Canadian Commercial Corporation (CCC), Mr. Marc Whittingham shared his views on African development with “The Rising Africa”. Was there a lost decade in Canada-Africa relationship? Our editor Marje Aksli asked the questions.

The mandate of CCC is “to assist in the development of trade between Canada and other nations.” How big share of your clients are currently from Africa nations?

Right now, African clients make up a relatively small share of our total business, but that small share is actually quite significant when we look at the types of projects that we are working on in Africa with Canadian companies – these are complex infrastructure projects. We are seeing a lot of potential in Africa; rapid urbanization in many countries on the continent is putting tremendous pressure on infrastructure. We are taking a very active role in engaging with clients from Africa to show them the solutions that Canadian companies can offer for their water, transportation and energy infrastructure investments.

Do you work with companies directly, or through their country governments only?

CCC has the authority to sign international contracts on behalf of the Crown for purchases destined for a foreign government. This provides foreign government buyers with the option of a government-to-government arrangement that can reduce the time, cost and risk of international tendering. It also offers a very practical mechanism for bilateral cooperation in key areas such as defence and infrastructure development.

How do you choose the countries CCC works in?

First of all, we never treat Africa as one entity; we look at each country individually. I was fascinated by the address by the dean of African diplomatic corps in Ottawa, Mrs. Chideya at the Canada-Africa Symposium when she said: “We are many different countries. Africa is not a monolithic continent.” And this is what companies in Canada need to understand, as well. The countries in Africa have individual resources, individual rules of law and individual talents and human capital.

What recommendations do you have for Canadian companies doing business in Africa?

Certainly there needs to be an increased awareness that there are opportunities, as the reality of Africa starts to be discussed in the media, and Canadian Council on Africa is doing an excellent job in that regards. The other thing to mention is that Canadian businesses look for opportunities where they believe there is a stable rule of law. I think you see this recognition in Africa that democracy and rule of law leads to economic development, which leads to social development. Almost in that order. I would advise the companies to know the country they are working in; to talk to Export Development Canada (EDC) about financing; to talk to Canadian trade commissioners, and to look at CCC if there is a possibility of government-to-government transaction. And certainly I would recommend that every company looking to work in Africa join CCAfrica. There are lots of opportunities in different countries of Africa to bring Canadian expertise to different areas.

Was there a lost decade in Canada-Africa relations?

Historically, Canada was doing more in developmental assistance programs and a lot of social development programs. I don’t think we had a lost decade from the business perspective, I think we were never really there from a business perspective. And maybe Africa was not ready for us and maybe we were not ready for Africa. Another reality in Canada is that for many years, Canada’s business was done with Canadians and with Americans. It’s a big market there. Today, our trade is shifting from almost all trade going to the U.S. two decades ago to include other markets: Latin-America, definitely Asia, and now increasingly Africa. I think it is wonderful that Canadian International Trade Minister Fast is leading trade missions to some African countries.

CCC currently has an active project in Ghana in the energy field. Why and how was this project selected?

First of all, Ghana is a country where democracy has prevailed, and the rule of law is prevailing. As the late President Mills mentioned many times the rule of law is necessary as it attracts the investment. In terms of our project there, the Ministry of Energy needed to increase the energy capacity of the country significantly as a part of a long-term strategy to support the power demands of the growing middle class in Ghana. This meant more power plants throughout the country in a relatively short period of time. CCC first got involved in the Ghana power project when we were contacted by our trade partners at the High Commission of Canada in Ghana to assist a Canadian company, Orenda Aerospace Corporation, and its partners in negotiations with the Government of Ghana. Both parties recognized a key facilitation role that CCC could play in the transaction for a 132-Megawatt power generation plant.

Do you see room or availability in your capacity for other companies to follow a similar route?

The opportunities for companies to follow a similar route are countless. African leaders have told me that compared to companies from other countries the Canadian businesses have the advantage of coming with quality products, with a long term perspective and high degree of Corporate Social Responsibility (CSR). Obviously, environmental concerns are paramount in anything we do, but also community engagement, local employment, knowledge and technology transfer to locals. I spoke earlier about rapid urbanization in many African countries and increased demands on infrastructure, we see that most of these demands are for reliable energy and adequate housing. Our goal is to come up with the best-possible Canadian solution to meet countries’ needs.

How do you do that?

The model we put forward is attractive to governments as it presents the Government of Canada as a partner in the country for what can be a very complex process. It is a collaborative approach that includes CCC, Canadian companies, and often the Trade Commissioner Service and Export Development Canada, working with governments to assure them of a credible and ethical process. We started doing public-private partnerships (PPP) in the late 80’s. During the long learning process we realised that the key to a PPP is to make sure that the risk is shared in a right way: public sector should not take private sector’s risks and vice versa. It means that both should take the risk where they are able to manage it properly. Once you do that then you are able to establish a good project that will be efficient for the communities. You need a very strong public sector that is able to negotiate a good risk sharing model with the private sector.

How strong is the public sector in African countries?
African public sectors are of varying strengths. If they do not have enough capacity, you need to back them up. This is where government-to-government contracting can be of help. As a Canadian government entity in contracting, we can provide the capacity and will make sure that the risks are shared in a way that makes sense for everyone. CCC guarantees for both parties that there will be full transparency and it will be in accordance with our Code of Business Ethics. All our employees sign it every year, and the Canadian companies we work with have to comply with it as well.

What could be the positive lessons learned that other companies / governments can benefit from?

Foreign governments have now seen the value that CCC adds by filling the needs of governments to establish robust procurement practices, including due diligence practices to ensure fair, reasonable and ethical contracts in meeting the development needs of the countries. Canadian companies have experienced enhanced access to opportunities by having the power of the Government of Canada at their side in business transactions.

Much has been talked about the CSR and the lack of internationally agreed standards on what should CSR universally hold. What can you say about the CSR projects in the two sites in Africa, in Kenya and Ghana, in terms of their respect for local communities and civil society, environment, economy and governance?

CCC represents both the Government of Canada and Canadian companies in our transactions and CSR and good corporate citizenship are at the forefront of every decision that is made to enter into a contract. This means that we carefully consider all the implications of our business activities not only at home but also abroad. In keeping with the Government of Canada’s stance to encourage and expect all Canadian companies to meet high standards of CSR, we have developed our own guiding CSR principles outlined in our Code of Conduct, and the Code of Business Ethics, which I mentioned already. One element of CSR that we are committed to is the capacity building in the host country, which means that with our projects such as that in Ghana, much of the workforce is actually hired locally, leading to knowledge transfer to the local workforce. In Ghana, we had 94% local employment on the project, meaning that the jobs and skills are kept in country.

How active is the African diplomatic corps in taking advantage of your opportunities?

One of the many advantages of being headquartered in Ottawa is that we have access to the foreign diplomatic missions in Canada. One of the Corporation’s main strategies is to engage with the heads of missions from abroad to not only introduce CCC and our services, but to really educate officials with the government-to-government approach to business and the real benefits that Canada brings to projects, especially to complex infrastructure projects.

Do you think CCC will have a role in the increased trade between Africa and Canada as envisioned by the Minister Fast (his announcement on Oct 16) and the planned CSR hub in Western Africa?

Absolutely. I think CCC will continue to play a very unique role in the increased trade between Canada and countries in Africa. As Minister Fast noted at the Canada-Africa Symposium, Africa is one of the fastest-growing economic regions in the world, which not only means many new opportunities, but also increased competition from around the world. I think CCC, with the Government of Canada and Canadian companies, will be able to contribute greatly to the CSR initiatives that are taking place in Africa, and I believe that supporting ethical business practices is one of the cornerstones of a Canadian approach to trade.

-xxx- 

Friday, February 7, 2014

Suur valitsus ees, rikkus taga




Eesti ettevõtjad ei peaks nõudma mitte odavat riiki, vaid hoopis suuremat hulka riigi pakutavaid teenuseid, et võidelda globaliseerumisega kaasas käiva ebastabiilsusega. Eesti rikkus ei suurene, sest riskantsete, kuid head kasumimäära pakkuvatele turgudele sisenemiseks on meie valitsus liiga õhuke.

Läinud kevadel Torontos peetud investeerimiskonverentsil sain aru, miks ekspordist sõltuv ja avatud majandusega Eesti ei peaks valitsusasutustes laialdasi kärpimisi tegema. Kanada rahandus- ja äripealinnas, kuhu Nigeeria asepresident, kubernerid ja jõukas ärieliit oli Põhja-Ameerika investeeringute meelitamiseks kohale lennanud, kirjeldas Nigeeria päritolu ärimees Calgaryst, tedretäpiline härra Ofor, kuidas Nigeerias äri käib.

Neile, kes kiiresti kasvava ja varsti ilmselt Aafrika suurimas majandusega Nigeerias kaupa soovivad teha, soovitas Ofor osta meeldima hakanud kaup kohe ära. “Saad täpselt selle, mida näed. Ära jää lootma hilisematele tellimustele: homme sama ärimeest tabada ja sama kaupa tellida on sama hea kui väljalt tuult otsida,” kirjeldas ta.

Teiseks soovitas Ofor sealsele turule minna kalli ja eksklusiivse kaubaga, sest nigeerlased ei armasta odavaid ja koledaid asju. Ning kolmandaks tuleks ärireisidel Nigeeriasse liikuda suure kaaskonnaga: „Jäta endast mulje kui rikkast ja heade tutvustega ärimehest ning alusta enda tutvustamisega just poliitikute ja riigiametnike, mitte ärimeeste juurest.“

Ofori kogemused ja soovitused iseloomustavad väga hästi kõrgeid riske ja tehingukulusid n-ö eksootilise maailmaga kauplemisel. Ja ometi olevat maailma kõrgeim investeeringute tasuvusmäär just Aafrikas. Aafrika keskklass on tänaseks juba sama suur kui Indias ning linnad, need tootmise ja tarbimise epitsentrid, kasvavad hoogsalt, vajades energiat, taristuid jm. Need kõik on võimalused meie ettevõtjate jaoks.

Ofori jutt tuletas ühtlasi meelde majandusteadlase Dani Rodriku öeldut: kui sul on kaks küpsist ja mul kaks klaasi limonaadi, on kaupa ääretult lihtne teha. Kui aga tahta siseneda Aafrika kiiresti kasvavatele, kuid riskantsele turgudele, mida iseloomustab vähene usaldus, siis peab riik ettevõtjatele riskide maandamiseks kindlasti oma garantiisid pakkuma. See seletabki, miks avatuma majandusega riikides on enamasti suuremad valitsemiskulud – riigi teenuseid on vaja ettevõtjatele globaliseerumisega kaasas käiva ebastabiilsusega võitlemiseks.

Sestap soovitab see Princetoni professor: kui riik tahab suuremaid turgusid, suurenegu samamoodi ka valitsus. Eesti kontekstis peaksid siis nii vettinud mägrad kui ka noored gasellid nõudma rohkem riigi teenuseid: investeeringute kaitselepinguid kiire majanduskasvuga riikidega, riiklikke strateegiaid kaubanduse arendamiseks, tõhusat saatkondade võrgustikku heade majandusdiplomaatidega ning riigiasutusi, mis edendaks senisest hoogsamalt eksporti ja kindlustaks suurte ettevõtete tehtavaid investeeringuid tõusvatele turgudele.

Viimasel ajal räägivad aga ettevõtjad, samuti ministrid ja tippametnikud üksteise järel hoopis sellest, et Eesti valitsemiskulud on liiga suured ja riik ülepea liiga kallis. Soovitatakse üle vaadata ametnike hulk ja funktsioonid, pannakse ette valitsuskulud külmutada. Samas võib juhtuda, et ettevõtjate soovi järgi reformitud riigiaparaat ei ole sugugi väiksem ega odavam.

Tõenäoliselt ei ole odavat riiki soovijatele näppu juhtunud Yale’i poliitikateadlase David Cameroni uurimustöö, mis leidis tähelepanuväärselt tiheda seose riigi kulutuste ja sissetuleku vahel inimese kohta. Turud on selle järgi kõige enam arenenud ja efektiivseimad nendes riikides, kus neid aitavad tugevad riigi institutsioonid. Kusjuures sama rikkustaseme juures oli valitsus suurem just selles riigis, mille majanduses oli väliskaubandusel suurem osakaal.

Aga mis kasu sellisest suure riigiaparaadi abiga maailmas ringi rassimisest siis eestlastele on? Kuna Eesti turg on nii pisike, siis sõltuvad meie tootjad ja teenusepakkujad just välisturgudest. Selle valguses saab väita, et Eesti rikkus ei suurene, sest riskantsetele, kuid head kasumimäära pakkuvatele turgudele sisenemiseks on meie valitsus liiga õhuke.

Tehingute toimumiseks on vaja palju riigi rahastatud eeltingimusi, alates konflikti puudumisest ja tavalisest tänavajulgeolekust kuni usaldatava valuutani. Enne tehingut peab keegi uurima kauba vastavust kehtivatele standartidele ning kontrollima selle väidetava omaniku staatust. Sõlmitud leping peab kehtima ja seda peab olema võimalik kohtus vaidlustada. Maksude tasumine peab olema selge jne.

Kujutlege nüüd, kuidas saaks õhuke riik osutada selliseid teenuseid (kaitsevõime, politsei ja piirivalve, (kesk)pangad, standardiametid, notarid, maksuametid) meie noortele gasellidele ja endiselt uljatele mäkradele välismaal. Firmadel endil ei ole selleks tööks ei raha ega võimu.

Riigiaparaadi suurus ei tohiks seega meie ettevõtjatel pinnuks silmas olla ning seda ei tuleks pidada majanduse arengu takistajaks. Vastupidi, valitsused kasvavad suureks suhteliselt väikestes riikides, mille majandus on kõige enam maailmale avatud. Valitsuse toel maailma vallutavaid ettevõtjaid on meil vaja aga selleks, et tagada meie oma inimeste sotsiaalne edukus.

Thursday, January 23, 2014

Müksame Eesti edukaks


Artikkel ilmus 23. jaanuari Äripäevas : http://www.aripaev.ee/blog/2014/1/23/muksame-eesti-edukaks 

Kuidas Eestit edukamaks teha? Pakun, et Eesti edu suurendamisel võiks proovida müksamist (nudging). Paljud riigipead kasutavad seda suurepärast tehnikat. Suurbritannia peaministri David Cameroni müksamisministeerium (nagu  New York Times on tema meeskonda naljatamisi nimetanud) tegeleb näiteks nii tööpuuduse leevendamise kui maksude laekumise parandamisega. USA president Barack Obama kasutab müksamiskiirsalka, et mõjutada inimesi enam hoiustama või maju soojustama.

Müksamine on käitumispsühholoogia ja poliitökonoomia võte, mis proovib positiivseid tulemusi saavutada käitumise kaudse mõjutamisega, mitte keelamise ja käskimise kaudu. Kõige lihtsam müksamisnäide on tervisliku koolitoidu alalt. Edu ei saavutata mitte rämpstoidu keelamisega, vaid laste silmade kõrgusele asetatud apetiitsete puu- ja juurviljakaussidega. Sellised käitumispsühholoogiale ülesehitatud müksud suurendavad tervislikku toitumist, mis ongi eesmärk. Müksamine on edukas, sest otsusetegija dilemmade (isuäratav rämpstoit või tervislik juurvili, tarbimine täna või hoiustamine tulevikuks, homsed suured küttearved või pööningu koristamine ja soojustamine täna) peale on ette mõeldud ja positiivsed valikuvariandid käeulatusse pandud.

Kohe tekib küsimus, kuidas kasutada müksamist Eesti edukamaks muutmiseks ja kuidas edukust üldse mõõta. Kuigi meil on põhjust majanduse ja ka inimarengunäitajate edenemise pärast uhked olla, on rikkus rahva edukuse arendamisel ainult siis head tööriist, kui tekitab töökohti, suurendab keskklassi ja loob ehituskivid heaoluühiskonnaks, kus kõik inimesed saavad oma andeid realiseerida.
Taiwani näide. Loomulikult ei loo üks müks kõiki eduka heaoluühiskonna tekke eeldusi. Kuid väikesi mükse tööstuspoliitikas võiks valitsus siiski proovida. Londoni majanduskooli professor Robert Wade on märkinud, et peale Lääneriikide on maailmas vaid seitse riiki, mis on viimase 200 aasta jooksul kõrge arengutaseme saavutanud. Lühidalt - edukaks saada on erakordselt keeruline. Miks ei võiks Eesti, mis on neoliberaalsete poliitikate omandamises juba maailma esirinnas, vahelduseks proovida mõnd Aasia-riikide tehnikat majanduskasvu ja sotsiaalse edukuse loomiseks?
Taiwanis käis asi nii: inseriharidusega müksamismeeskonna ülesandeks oli majandussektorid omavahel ära jagada ning ettevõtetega, käsitöömeistritega, väikeettevõtjatega tihedad suhted sisse seada. Suure osa ajast pididki mehed tehastes ja töökodades veetma ja sealseid probleeme ja käitumist uurima. Pange tähele, et riigi edukamaks muutmiseks ei valitud välja mitte üht lemmiksektorit, millest poliitikud nõrkemisi uusaastakõnedes jahvatada saaks – eesmärk oli informatsiooni võimalikult laiapõhjaliselt kahes suunas liigutada. Esiteks uurida, mis täpselt hoiab ettevõtteid tagasi tootlikkust suurendamast, Lääne suurfirmadele allhanget pakkumast (alguses), ja hiljem juba ise üleilmseid turge vallutamast ja tarneahelaid loomast.
Vastutasuks jagasid müksajad omakorda teavet, kuidas saaks ettevõtted maailma konkurentsis püsida, ning pakkusid välja kiire kasumiiha taltsutamiseks lahendusi, neid sobivalt käeulatusse nihutades. Sellised avalikkusele nähtamatud müksamismeeskonnad olid ka eri sektori firmade ning kohalike ja välismaiste firmade sünergia tekitatamise taga. Niimoodi käitumispsüholoogiat tööstussektorisse üle kandes müksati mitu aastakümmet järjest, tuues kaasa nii rikkuse kui ka sotsiaalse edu.
Rikkusest ei piisa. Muideks, eelmisel aastal loodi Harvardi ülikooli Business Schooli professori Michael Porteri eestvedamisel sotsiaalse edukuse indeks. Ja kuigi see Eestit ja teisi väikeseid riike esialgu ei hõlmanud, on esialgne järeldus sotsiaalse edukuse indeksi uuringutest selline, et rikkamates riikides on sotsiaalne edukus tavaliselt suurem (teatud piirini küll ja mõningate eranditega). Seega, isegi kui indeks raha kokkuajamist otseselt ei mõöda (nagu SKT ja osaliselt ka inimarenguindeks), on korrelatsioon riigi majanduse ja sotsiaalse edukuse vahel positiivne. Ühenduslüliks nende vahel ongi töökohad. Just nii nagu Maailmapanga eelmise aasta arenguraport, mis keskendus just töökohtadele, pikalt kirjutas.
Edukuse sõnum. Rikkus on seega sotsiaalse edukuse jaoks vajalik, kuid ebapiisav tegur. Ning kui Eesti paremliberaalid on sotsiaalse edukuse Eesti majanduskliimat ja -kasvu lakkamatult kiites ära unustanud, siis Eesti vasakpoolsed, kes kannatamatult võimule soovivad tulla, unustavad, et sotsiaalselt edukaks ei saa ilma rikkust loomata. Tööstussektorite vaikne, kuid pidev müksamine töökohtade loomiseks on üks võimalus sotsiaalse edukuse suurendamiseks. ARTIKKEL ILMUB TALLINNA KAUBAMAJA, DANSKE BANKI, EMT, RAIDLA LEJINS & NORCOUSI, SAKU ÕLLETEHASE, TALLINNA VEE JA ÄRIPÄEVA ARVAMUSKONKURSI EDUKAS EESTI RAAMES