The paper provides a review of country experiences on public enterprise reform and privatization in a regional and socio-economic context. The discussion concludes that there is no single optimum strategy. Differences in socio-economic setting dictate that selective and properly evaluated procedures be used specific to and enterprise. The success or failure of a strategy however rests on whether or not the favorable macro-economic environment is set right apriori. The experiences of many developing countries witness that the central question is not one of ownership but that of proper mix of managerial skills at the enterprise level.