How to get economic growth in developing countries?

Underdeveloped and developing countries are facing the dilemma of  not getting high economic growth owing to weak political /economic system,financial corruption, strong corporate institution, class differentiation, heavy dependence on import, direct or indirect investment etc..There may be as many reasons as we can think about.

All these countries need to make variety of strategic plans to economise the expenditure viz a viz investment initiatives including;

Investing in infrastructure: Developing countries often lack basic infrastructure such as roads, bridges, ports, and power plants, which can impede economic growth. Investing in these areas can help to improve transportation and communication, making it easier for businesses to operate and for goods and services to be exchanged.

Promoting education and human capital development: A well-educated workforce is critical for economic growth. Investing in education and training can help to improve the skills and productivity of workers, which in turn can help to attract foreign investment and boost economic growth.

Improving the business environment: Developing countries often have weak institutions and a difficult business environment. This can make it difficult for businesses to operate and for entrepreneurs to start new companies. Improving the business environment by simplifying regulations, reducing corruption, and providing access to credit can help to promote economic growth.

Encouraging foreign investment: Developing countries can attract foreign investment by creating a stable and predictable policy environment and by offering incentives to foreign investors.

Emphasize on export-oriented growth: Developing countries can boost their economic growth by expanding their export markets. This can be achieved by investing in industries that are competitive on the global market and by reducing trade barriers.

Implementing sound macroeconomic policies: Developing countries should implement sound macroeconomic policies such as low inflation, a balanced budget, and a flexible exchange rate. This can help to create a stable economic environment that is conducive to growth.

Encouraging entrepreneurship and innovation: Supporting small and medium-sized enterprises and encouraging entrepreneurship and innovation can help to create new businesses, jobs and spur economic growth.