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Managing Large Projects in Emerging Markets

The term, Emerging Market, was coined by IFC’s Antoine W van Agtmael in 1981. World Bank defines an emerging market economy (EME) as an economy with low-to-middle per capita income. EME countries comprise approximately 80 per cent of the global population, and represent about 20 per cent of the world’s economies. These countries include big or small economies with low or high growth rates. Countries like India and China, which are growing at fast rates are included in EMEs since they are still in the process of economic reforms and are emerging into the global economy. A number of EMEs attract foreign direct investments. They provide enough scope and opportunities for foreign investors to start business projects or participate in the infrastructure development and financing. Such activities create employment opportunities and wealth in the EMEs as well as cause transfer of technology.