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Longman Dictionary of Contemporary English
private sector
▪ In a television statement on Oct. 8 Rafsanjani said that the plan included the sale of state-owned factories to the private sector.
▪ Services can be contracted out or turned over to the private sector.
▪ The private sector now offers another rich seam to mine.
▪ The private sector often complains about public enterprise, arguing that government should not compete with business.
▪ The deficit is created by the actions of the private sector.
▪ What are the pluses and minuses of practicing law in the private sector?
▪ When governments contract activities to the private sector, those governments still make the policy decisions and provide the financing.
▪ Will such businesses be sufficiently profitable to generate the interest of the private sector?
private sector

n. (context business English) All organizations in an economy or jurisdiction that are not controlled by government, including privately owned businesses and not-for-profit organizations.

Private sector

The private sector is the part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the State (areas of the economy controlled by the state being referred to as the public sector).