What are the Obstacles of industrialization in LDC?

Answer 1

Obstacles to industrialization in Less Developed Countries (LDCs) include inadequate infrastructure, such as poor transportation and energy supply, which hinders production and distribution. Limited access to financing and technology restricts investment in modern industries, while a lack of skilled labor can impede the growth of a capable workforce. Additionally, political instability and weak governance can create an uncertain business environment, deterring both domestic and foreign investment. Lastly, reliance on agriculture and raw material exports can stifle diversification into manufacturing sectors.