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English definition of “public enterprise”

public enterprise

noun     ECONOMICS
[U] the economic system that is based upon the principle of companies being owned by the government and not by people and businesses : They have yet to come to terms with the idea that in a modern state there is a role for public enterprise .
[C] a business that is owned by the government : Several public enterprises may be privatised .
→ Compare private enterprise
(Definition of public enterprise noun from the Cambridge Business English Dictionary © Cambridge University Press)
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