A UNITED NATIONS General Assembly Distr. GENERAL A/RES/52/209 27 February 1998 Fifty-second session Agenda item 96 (b) RESOLUTION ADOPTED BY THE GENERAL ASSEMBLY [without reference to a Main Committee (A/52/L.70)] 52/209. Business and development The General Assembly, Recalling its resolutions 47/171 of 22 December 1992 entitled "Privatization in the context of economic restructuring, economic growth and sustainable development", 48/180 of 21 December 1993 entitled "Entrepreneurship and privatization for economic growth and sustainable development" and 50/106 of 20 December 1995 entitled "Business and development", as well as the Agenda for Development,1 Welcoming the fact that many countries continue to attach major importance to the privatization of enterprises, demonopolization and administrative deregulation in the context of their economic restructuring policies, as a means to increase efficiency, economic growth and sustainable development, Recognizing the importance of the market and the private sector for the efficient functioning of economies in various stages of development, Recognizing the sovereign right of each State to decide on the development of its private and public sectors, taking into account the comparative advantages of each sector, bearing in mind the economic, social and cultural diversity in the world, 1. Takes note of the report of the Secretary-General entitled "Entrepreneurship and privatization for economic growth and sustainable development";2 2. Underlines the positive role of the private sector in supporting economic growth and development as well as in the mobilization of resources; 1 Resolution 51/240, annex. 2 A/52/428. 98-76957 /...