Answer:

1. Increase investment in Education: Education is a fundamental tool of development. It not only helps in increasing human capabilities but also helps in the development of the country. Investing in education aids in creating a highly skilled workforce, increasing innovation and productivity, and improving overall socioeconomic conditions. Investing in education can help to catch up with rich countries as it lays down the foundation for the country's development.

2. Infrastructure Development: Infrastructure development is crucial in facilitating economic growth, generating employment opportunities, and attracting foreign investment. It can aid in the development of vital sectors such as agriculture, transport, and communication, among others. Infrastructure development requires long-term investment and collaboration between the private and public sectors. Emerging economies that invest in infrastructure development can catch up quickly with developed countries in terms of economic growth and development.

3. Promotion of Entrepreneurship: Encouraging entrepreneurship can create jobs, expand the tax base and improve living standards. Entrepreneurship can promote innovation and stimulate the creation of new business ventures, which can help the country move towards industrialization. Emerging economies that promote entrepreneurship can access new markets, create employment opportunities, and diversify their economy. By promoting entrepreneurship, emerging economies can catch up with developed economies in terms of economic development and growth.