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By Marjan STOJILJKOVIC, Senior Manager, Risk Advisory at Deloitte Luxembourg
The industrial sector is a driver of wealth, economic prosperity, and broader societal goals. As such, it has played a crucial role in the modern economy’s development. Moving people from informal subsistence farming into formal manufacturing jobs improved their productivity, made the agricultural sector more efficient, and raised government revenues through taxation that, in turn, were invested in social well-being.
The inclusion of industrialization as the ninth Sustainable Development Goal (SDG 9) reaffirms its central role in the overall development picture. However, industrial activities also take a toll on the environment, as the sector progressively becomes...
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