A developing country can substantially increase its economic growth if its businesspeople are willing to invest in modern industries that have not yet been pursued there  But being the first to invest in an industry is very risky
Moreover, businesspeople have little incentive to take this risk since if the business succeeds, many other people will invest in the same industry, and the competition will cut into their profits
A developing country can increase its prospects for economic growth by providing added incentive for investment in modern industries that have not yet been pursued there.