NATIONAL FRAMEWORK FOR LOCAL ECONOMIC DEVELOPMENT (2006. LED is about promoting local approaches to respond to local needs and conditions, but also within the context of national and global economic trends and events. It aims to base economic activity on social conditions and local resources as well as regional capabilities and local competitive advantage. The aims of LED are: “To create robust and inclusive local economies that exploit local opportunities, address local needs and contribute to national development objectives, such as economic growth, jobs and equity”; To eradicate poverty and create sustainable work opportunities, this can be achieved through the formation of co‐operatives in previously disadvantaged areas. To integrate the first and second economies; and Practising LED is about creating an enabling environment, building economic capability and facilitating productive networks at the local level”.
